Board Changes

Seeing Machines

27/03/2025 07:11

RNS Number : 4695C

Seeing Machines Limited

27 March 2025

 

 

Seeing Machines Limited ("Seeing Machines" or the "Company")

 

 

27 March 2025

 

Board Changes

 

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 Michael Brown, a non-executive director of the Seeing Machines board since 2020 and a member of the People, Culture and Remuneration Committee, will be stepping down as a director of the Company with effect from today.  

 

Mr Brown was the nominee director for a major shareholder, Lombard Odier, and his resignation coincides with the shareholding of Lombard Odier falling below 10% after the recent introduction of Mitsubishi Electric Mobility Corporation (MELMB) onto the Company's share register.

 

With the resignation of Mr Brown, the remaining non-executive directors are all considered to be independent directors. At this stage the Board does not propose to appoint another director. Mr Stephane Vedie will become a member of the People, Culture and Remuneration Committee.

 

Kate Hill, Chair of Seeing Machines, commented: "On behalf of my fellow Board members I'd like to thank Michael for his unwavering support of the Company and advice throughout his tenure.  His insight and observations have been extremely helpful in navigating the past 5 years.  Michael leaves the Board at a time when the Company has funding in place beyond the point at which we expect to become self-financing.  We will continue to work with Michael and his colleagues at Lombard Odier, our second largest shareholder, and remain grateful for their support.  I know they, like us, believe the upcoming regulations will represent a key moment in the Company's journey."

 

 

Enquiries:

 

Seeing Machines Limited
+61 2 6103 4700
Paul McGlone - CEO
Sophie Nicoll - Corporate Communications
Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)
+44 20 7710 7600
Alex Price
Fred Walsh
Ben Good
Sarah Wong
DGA Group (Media Enquiries)
James Styles
 Methuselah Tanyanyiwa
 Matthias Jarosz
seeingmachines@dgagroup.com
+44 20 7664 5095


 

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' 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

 

 

 

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