Issue of Shares

RNS Number : 3439C

Seeing Machines Limited

28 September 2018

 

Seeing Machines Limited

28 September 2018

Issue of Shares

Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the "Group"), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, has today issued 33,062,772 ordinary shares of no par value in the Group ("New Ordinary Shares") to be held in the existing Group trust (the "Trust").

The New Ordinary Shares, which rank pari passu with the existing Ordinary Shares in Seeing Machines, will be held in the Trust until such time as the beneficiaries of the Group's Employee Benefits Plan (the "Award"), the terms of which were announced on 2 November 2017 and 15 June 2018, 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.

The abovementioned Awards span forty people within the Group and form the basis of long-term incentive plans which are used to attract and retain world class scientific, engineering and business talent.

Application has been made for the New Ordinary Shares to be admitted to trading on AIM and admission is expected to occur on 4 October 2018 ("Admission"). Following Admission, the total issued share capital of the Group will be 2,286,449,115 Ordinary Shares with no Ordinary Shares held in treasury. Therefore, the total number of voting rights in the Group post Admission will be 2,286,449,115 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 www.seeingmachines.com	[phone]
Ken Kroeger, CEO Sophie Nicoll - VP, Marketing & Communications
Cenkos Securities plc (Nominated Adviser and Joint Broker) Neil McDonald/Beth McKiernan/Pete Lynch	[phone]
Canaccord Genuity Limited (Joint Broker)	[phone]
Simon Bridges/Richard Andrews
Instinctif Partners	[phone]
Adrian Duffield/Kay Larsen/Chantal Woolcock

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

About Seeing Machines - www.seeingmachines.com 

Seeing Machines (LSE: SEE), a global company headquartered in Australia, is an industry leader in computer vision technologies which enable machines to see, understand and assist people. The Company's machine learning vision platform has the know-how to deliver real-time identification and understanding of drivers through Artificial Intelligence (AI) analysis of heads, faces and eyes. This insight enables Driver Monitoring Systems (DMS), which monitor driver/operator identification and attention and can detect drowsiness and distraction across multiple transport sectors.

Seeing Machines develops DMS for the Automotive, Commercial Fleet, Aviation, Rail and Off-Road markets. The Company has offices in Australia, USA, Europe and Asia, and delivers multi-platform solutions to industry leaders in each vertical.

DMS is becoming a core safety technology integrated into ADAS offerings for the automotive industry, particularly with the development of semi-autonomous and self-driving cars. DMS is also increasingly seen to be an integral safety feature across the Commercial Transport & Logistics industry globally.

 

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