Issue of Performance Rights

RNS Number : 6401W

Seeing Machines Limited

23 December 2021

 

Seeing Machines Limited

("Seeing Machines" or the "Company")

23 December 2021

Issue of Performance Rights

Seeing Machines Limited (AIM: SEE), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, announces that it has awarded performance rights in respect of a total of 64,996,414 Ordinary Shares ("Performance Rights") to 56 staff under its existing Long Term Incentive ("LTI") scheme.  

14,845,702 of the Performance Rights under the LTI have been awarded in recognition of the past achievement of the Company's objectives in FY2021. These awards vest annually in three equal tranches.

The balance of the Performance Rights, namely 50,150,712 have been granted under Key Person Agreements in respect of a total of 27 nominated key people. These people have been identified as having key roles directly related to the Company's long-term success and the allocation of accelerated Performance Rights has been implemented by the Board to successfully retain these employees and affirm successful delivery on a range of projects and customer commitments. These awards have an accelerated grant with delayed vesting taking place on 1 July 2024. The awards are forefeited in the event that the relevant individual does not remain with Seeing Machines.

The Performance Rights have an exercise price ranging between 9.3 and 9.4 pence, being the  30 day VWAP prior to 30 June 2021 (relating to the accelerated Performance Rights) and the 5 day VWAP prior to 30 June 2021 (relating to the non-accelerated LTI Performance Rights).

Of the 64,986,215 Performance Rights issued to staff under the LTI scheme, a total of 4,856,164 Performance Rights have been issued to Naomi Rule, CFO. Following this grant, Ms Rule now holds Performance Rights over a total of 6,036,368 Ordinary Shares, representing 0.15% of the current issued share capital.

Enquiries:

Seeing Machines Limited	[phone]
Paul McGlone - CEO Sophie Nicoll - Corporate Communications
Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)	[phone]
Alex Price Nick Adams
Lionsgate Communications (Media Enquiries) Jonathan Charles	[phone]

About Seeing Machines (AIM: SEE), a global company founded in 2000 and headquartered in Australia, is an industry leader in vision-based monitoring technology that enable machines to see, understand and assist people. Seeing Machines' technology portfolio of AI algorithms, embedded processing and optics, power products that need to deliver reliable real-time understanding of vehicle operators. The technology spans the critical measurement of where a driver is looking, through to classification of their cognitive state as it applies to accident risk. Reliable "driver state" measurement is the end-goal of Driver Monitoring Systems (DMS) technology. Seeing Machines develops DMS technology to drive safety for Automotive, Commercial Fleet, Off-road and Aviation. The company has offices in Australia, USA, Europe and Asia, and supplies technology solutions and services to industry leaders in each market vertical.

www.seeingmachines.com

11	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Ms Naomi Rule
	Reason for the notification
a)	Position/status:	Chief Financial Officer
b)	Initial notification/Amendment:	Initial notification
	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Seeing Machines Limited
b)	LEI:	549300LNJJPZ2SU7A197
	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of Identification Code	Ordinary shares of nil par value ISIN: AU0000XINAJ0
b)	Nature of the transaction:	Issue of Performance Rights
c)	Price(s) and volume(s):	Price(s) Volume(s) 9.4p 838,123 9.3p 4,018,041
d)	Aggregated information: · Aggregated volume: · Price:	Aggregated Volume: 4,84,164 Aggregated Value: £452,461.37
e)	Date of the transaction:	22 December 2021
f)	Place of the transaction:	Outside a trading venue

 

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