Issue of Shares and Total Voting Rights

RNS Number : 1950E

Seeing Machines Limited

05 July 2021

 

Seeing Machines Limited

5 July 2021

Issue of Shares and Total Voting Rights

Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the "Company"), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, announced that the Board has approved the issueof a total of 70,000,000 new ordinary shares of no par value in the Group ("New Ordinary Shares") for the benefit of key members of staff for previously announced performance awards under the terms of the Group's Long Term Incentive ("LTI") scheme (the "Award").

The New Ordinary Shares, which rank pari passu with the existing Ordinary Shares in Seeing Machines, will be held in the existing Seeing Machines Executive Share Plan Trust (the "Trust") until such time as the beneficiaries of the Award exercise the performance rights and options. On the exercise of such performance rights and options, the Trust will transfer the shares to the relevant beneficiary and a separate announcement will be released at that time. Following this issue, the Trust holds a total of 80,784,198 ordinary shares of no par value, representing 1.8 per cent. of the enlarged issued share capital of the Group.

Application has been made for 70,000,000 New Ordinary Shares to be admitted to trading on AIM and admission is expected to occur on 9 July 2021 ("Admission"). Following Admission, the total issued share capital of the Group will be 3,875,617,804 Ordinary Shares with no Ordinary Shares held in treasury. Therefore, the total number of voting rights in the Group post Admission will be 3,875,617,804 and this figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in Seeing Machines.

Enquiries:

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

The person responsible for arranging the release of this announcement on behalf of Seeing Machines is Sophie Nicoll, Corporate Communications.

About Seeing Machines (LSE: 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

 

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