Result of EGM

RNS Number : 5295W

Seeing Machines Limited

30 December 2013

 



30 December 2013

Seeing Machines Limited

("Seeing Machines" or the "Company")

Results of EGM

Completion of Placing

Seeing Machines Limited (AIM:SEE), the AIM-listed technology company with a focus on computer vision based operator monitoring and intervention technology and services, is pleased to announce the results of the Extraordinary General Meeting which took place earlier today at its Australian office.  All resolutions were approved by shareholders (as set out in the table below) and the Second Tranche of 230 million placing shares, as announced by the Company on 29 November 2013, has now been approved and will be issued on 31 December 2013.

	Resolution 1		Resolution 2		Resolution 3		Resolution 4		Resolution 5
		%age		%age		%age		%age		%age
Votes for	183,711,174	99.86	181,661,174	98.74	188,559,841	99.71	169,987,341	99.77	188,714,841	98.64
Votes against	260,000	0.14	2,310,000	1.26	544,000	0.29	389,000	0.23	2,594,000	1.36
Total Shares Voted	183,971,174	100	183,971,174	100	189,103,841	100	170,376,341	100	191,308,841	100

The net proceeds of the total capital raising will provide the Company with working capital and further flexibility to pursue its development strategy. The Company plans to allocate capital to develop and promote its mine site solution through Caterpillar Global Mining and to grow a greater presence in the road transport, aviation safety and, over time, consumer electronics markets, alongside key partners.

Ken Kroeger, the Company's CEO, and James Walker, Chief Financial Officer, have participated in the Second Tranche of the Placing. Their participation and resultant interest following admission of the Second Tranche is set out in the table below:

Director/key executive	Number of Placing Shares subscribed	Total interest including Placing Shares subscribed	Percentage of enlarged share capital following admission of the Second Tranche
Ken Kroeger, CEO through his investment vehicle Insperience Pty Ltd	680,000	7,878,607	1.0%
James Walker, CFO, through his investment vehicle Kirri Cove Pty Limited	320,000	2,393,019	0.3%

The Placing Shares will rank pari passu in all respects with the existing Ordinary Shares. Admission to trading on AIM for the 230,000,000 Ordinary Shares is expected to occur on 31 December 2013.

Total Voting Rights

Following the issue of the Second Tranche, the total issued share capital of the Company will be 802,226,253 Ordinary Shares. Accordingly, as at 31 December 2013, the total voting rights in the Company will be 802,226,253.

Details of the Australian Offer and Overseas Offer

The Australian Offer and Overseas Offer, when combined, seek to raise up to £1 million at an issue price of 5 pence per share or an AUD equivalent.  Details were posted by the Company to share and Depositary Interest holders on 30 December 2013.

Enquiries:

www.seeingmachines.com

Seeing Machines Limited
Ken Kroeger, Managing Director and CEO	[phone] [e-mail]
James Walker, CFO	[phone] [e-mail]
Terry Winters, Chairman	[phone] [e-mail]
finnCap Ltd
Ed Frisby / Ben Thompson, Corporate Finance	[phone]
Simon Starr, Corporate Broking
Newgate Threadneedle, Investment Communications for Seeing Machines
Graham Herring	Tel: [phone] Mob: [phone] [e-mail]
Robyn McConnachie	Tel: [phone] Mob: [phone] [e-mail]

About Seeing Machines Limited

Seeing Machines, (AIM: SEE), is an AIM-listed technology company that specialises in visual computing systems that track faces, eye and facial features in real time. Its software and engineering services are used in products and applications that range from devices that detect eye disease to prevent loss of sight, to those that improve driver safety and save lives. Seeing Machines technology is used worldwide across the automotive, mining, gaming, transport and aviation industries; as well as many of the leading academic research groups, transportation authorities, and Defence Departments. Seeing Machines is based in Canberra, Australia, and Tucson, Arizona and counts Freeport McMoRan, BHP Billiton, Newmont, Cloud Peak Energy, Toll Mining Services and Teck Resources among its mining customers.

 

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