No exposure to Silicon Valley Bank
Seeing Machines Limited
("Seeing Machines" or the "Company")
13 March 2023
No exposure to Silicon Valley Bank
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, provides the following response to enquiries about Silicon Valley Bank ("SVB").
Seeing Machines confirms that it does not have any exposure to SVB or SVB UK, either in the form of cash deposits, debt facilities or investments.
The Company has a strong balance sheet, with cash at 31 December 2022 of US$52.2m (30 June 2022: US$40.5m).
Enquiries:
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Seeing Machines Limited |
+61 2 6103 4700 |
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Paul McGlone - CEO Sophie Nicoll - Corporate Communications |
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Stifel Nicolaus Europe Limited (Nominated Adviser and Broker) |
+44 20 7710 7600 |
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Alex Price Fred Walsh Nick Adams Ben Burnett |
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Dentons Global Advisors (Media Enquiries)
James Styles |
+44 20 7664 5095
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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 is revolutionizing global transport safety. Its 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.
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