Seeing Machines Limited
21 November 2024
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, announces that the Board has issued a total of
118,904,187 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 Group 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.
Following this issue, the Trust holds a total of 133,685,819
ordinary shares of no par value representing 3.1% of the enlarged
issued share capital of the Company.
Application will be made for
118,904,187 New Ordinary Shares to be admitted to trading on AIM
and admission is expected to occur on or around 26 November 2024
("Admission"). Following Admission, the total issued share capital
of the Group will be 4,271,645,483
Ordinary Shares with no Ordinary Shares held in
treasury. Therefore, the total number of voting rights in the Group
post Admission will be 4,271,645,483
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.
Kate Hill, Seeing Machines Chair, commented: "An important
element of our remuneration strategy is to award key members of our
team with shares in the Company in order to retain them in the
business and align their interests with those of our
shareholders. This issue of New Ordinary Shares to the Seeing
Machines Trust is the first issue since 2019 and covers the Award
period from 2021 through to 2024, as well as anticipated further
awards through to 2027. The most recent award was largely
structured immediately post-Covid when it was important to retain
and incentivise key staff, and 54,604,331 of the shares under that
award have met the criteria for vesting."
Enquiries:
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Seeing Machines Limited
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+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)
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+44 20 7710
7600
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Alex Price
Fred Walsh
Ben Good
Sarah Wong
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DGA
Group (Media Enquiries)
James Styles
Methuselah Tanyanyiwa
Matthias Jarosz
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+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.
www.seeingmachines.com