REG - Seeing Machines Ltd - Board Changes

Seeing MachinesAnnouncement

27/03/2025 07:15

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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)                                                     +44 20 7664 5095

 James Styles

Methuselah Tanyanyiwa

Matthias Jarosz

 seeingmachines@dgagroup.com (mailto:seeingmachines@dentonsglobaladvisors.com)

 

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 (http://www.seeingmachines.com)

 

 

 

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