TIDMSEEN

RNS Number : 4609Y

SEEEN PLC

13 May 2021

SEEEN plc

("SEEEN", the "Company" or the "Group")

New Product Launch and Appointment of Sales Adviser,

Grant of Options

and

Notice of Results

SEEEN plc (AIM: SEEEN), the global media and video technology platform delivering transformative video AI for improved digital marketing yield and connected audience experiences, is pleased to announce that it has launched a new product, Dialog-To-Clip, for sale to video creators on Adobe (R) 's app store. Adobe (R) is the world's leading company for digital media tools. SEEEN's Dialog-To-Clip offering brings SEEEN's "Key Video Moments" technology to approximately 10 million users of the Adobe (R) Premiere Pro (R) video editing platform.

During April, the Group announced strong Q1 results and the start of Q2 with a business-to-business product sale. The Group stated that as part of its Go-to-Market plan, it would be "rolling out additional video technology products to its target customer base starting in 2Q." Today's launch of Dialog-To-Clip, as discussed below, solves a major problem for video creators: how to cut the time and pain of annotating and editing "Key Video Moments".

In order to further focus the Group on sales, the Company has made a strategic advisory appointment of a senior business development executive to accelerate its Go-To-Market plan. The Company has also incentivized the Dialog-To-Clip team for additional commercial results with options priced at a 30% premium to yesterday's closing price.

Dialog-To-Clip launch

SEEEN's Dialog-To-Clip product has been approved by Adobe (R) as a plug-in for Premiere Pro (R) users and is now available for video editors to purchase both on the Adobe (R) Creative Cloud (R) Exchange and on the Company's website. The Adobe (R) Creative Cloud (R) Exchange is one venue where the millions of users of Premiere Pro (R) can see and purchase plug-ins to optimise their video editing workflows. The Company will also be supplementing expected sales through the Creative Cloud (R) Exchange with targeted marketing to Premiere Pro (R) users.

SEEEN developed Dialog-To-Clip with input from our customers who face competitive pressure to produce more content at less cost. Dialog-To-Clip achieves these efficiencies by replacing the traditional timeline editing processes, which are labor intensive, with fast, accurate, and AI-driven in-video search. SEEEN's automated process draws upon its Jetstream (TM) and CreatorSuite (TM) technology components.

How Dialog-To-Clip Works:

Dialog-To-Clip is available as a panel inside Adobe (R) Premiere Pro (R) . It streamlines the editing process via an interactive, speaker diarized video transcript. From this transcript, a video editor can quickly search, identify and automatically create video clip assets from within a video. Without this product, video editors need to watch the full video and manually fast-forward and reverse through the video to a particular location in order to find, mark and extract a clip.

Appointment of Sales Adviser

In addition to the above product launch, the Company has also strengthened its sales function, including the recent appointment of William Jennings as a Sales Adviser to accelerate the Go-To-Market sales plan for its product portfolio, including CreatorSuite(TM) and JetStream(TM) , with larger brands and publishers. Bill has significant professional experience in senior sales management for online video, including most recently at Firework Networks, a short form video business enabling publishers to deploy "Shorts" (short videos for marketing and advertising purposes).

Grant of Options

The Company has today granted options over ordinary shares at an exercise price of 65 pence, 30% above the current market price, to the key employees and advisers involved in development of the Dialog-To-Clip product and the Company's sales plan. In total, the Company issued 625,000 options which vest 1/3(rd) on the first anniversary, 1/3(rd) on the second anniversary and 1/3(rd) on the third anniversary subject to the employee or adviser still being employed or actively involved with the Company (the "Grant of Options").

Post the Grant of Options, the Company has a total of 14.5% of its fully diluted share capital under option over ordinary shares.

Notice of Results

The Group intends to publish its Final Audited Results for the financial year ended 31 December 2020 in the week commencing 14 June 2021.

Todd Carter, SEEEN CEO, commented: "We are extremely pleased to commercialize Dialog-To-Clip. Customers are seeking more efficient video workflows and are attracted by SEEEN's value proposition. The introduction of Dialog-To-Clip is an important commercial step towards our vision of enabling a transformative video experience platform. By moving data intensive video editing functions closer to the user, we will reinforce the powerful value proposition of SEEEN's Cloud-Based solutions like CreatorSuite (TM) and JetStream (TM) that empower creators and enable publishers to reap higher returns from digital marketing.

In parallel with this product launch, we are delighted to appoint Bill Jennings, who has a strong track record in the online video industry, as a Sales Adviser to accelerate our Go-To-Market strategy with large video providers who seek to publish and commercialize their libraries by extracting "Key Video Moments" for consumers."

Enquiries:

 
 SEEEN 
 Patrick DeSouza, Chairman                          Tel: +1 203 654 5426 
 Todd Carter, CEO                                   Tel: +1 917 776 3027 
 Adrian Hargrave, CFO                               Tel: +44 7775 701 
  Bill Jennings, Senior Sales Advisor                838 
                                                     Tel: +1 917 647-3067 
 
 Panmure Gordon                                     Tel: +44 20 7886 
  (Financial Adviser, Nominated Adviser &            2500 
  Joint Broker) 
 Alina Vaskina / Sandy Clark (Corporate Advisory) 
 Erik Anderson / Rupert Dearden (Corporate 
  Broking) 
 
 Dowgate Capital (Joint Broker)                     Tel: +44 20 3903 
                                                     7721 
 Stephen Norcross 
 

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May 13, 2021 02:00 ET (06:00 GMT)

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