REG - Seeing Machines Ltd - Issue of Performance Rights

Seeing MachinesAnnouncement

23/12/2021 10:35

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RNS Number : 6401W  Seeing Machines Limited  23 December 2021

 

Seeing Machines Limited

("Seeing Machines" or the "Company")

 

23 December 2021

 

Issue of Performance Rights

Seeing Machines Limited (AIM: SEE), the advanced computer vision technology
company that designs AI-powered operator monitoring systems to improve
transport safety, announces that it has awarded performance rights in respect
of a total of 64,996,414 Ordinary Shares ("Performance Rights") to 56 staff
under its existing Long Term Incentive ("LTI") scheme.

 

14,845,702 of the Performance Rights under the LTI have been awarded in
recognition of the past achievement of the Company's objectives in FY2021.
These awards vest annually in three equal tranches.

 

The balance of the Performance Rights, namely 50,150,712 have been granted
under Key Person Agreements in respect of a total of 27 nominated key people.
These people have been identified as having key roles directly related to the
Company's long-term success and the allocation of accelerated Performance
Rights has been implemented by the Board to successfully retain these
employees and affirm successful delivery on a range of projects and customer
commitments. These awards have an accelerated grant with delayed vesting
taking place on 1 July 2024. The awards are forefeited in the event that the
relevant individual does not remain with Seeing Machines.

 

The Performance Rights have an exercise price ranging between 9.3 and 9.4
pence, being the  30 day VWAP prior to 30 June 2021 (relating to the
accelerated Performance Rights) and the 5 day VWAP prior to 30 June 2021
(relating to the non-accelerated LTI Performance Rights).

 

Of the 64,986,215 Performance Rights issued to staff under the LTI scheme, a
total of 4,856,164 Performance Rights have been issued to Naomi Rule, CFO.
Following this grant, Ms Rule now holds Performance Rights over a total of
6,036,368 Ordinary Shares, representing 0.15% of the current issued share
capital.

 

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

 Nick Adams

 Lionsgate Communications (Media Enquiries)                     +44 7791 892509

 Jonathan Charles

 

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)

 

 11  Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                             Ms Naomi Rule
     Reason for the notification
 a)  Position/status:                                  Chief Financial Officer
 b)  Initial notification/Amendment:                   Initial notification
     Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name:                                             Seeing Machines Limited
 b)  LEI:                                              549300LNJJPZ2SU7A197

     Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of  Ordinary shares of nil par value

                                                       ISIN: AU0000XINAJ0

     Identification Code

 b)  Nature of the transaction:                        Issue of Performance Rights
 c)  Price(s) and volume(s):

Price(s)  Volume(s)
                                                       9.4p      838,123
                                                       9.3p      4,018,041
 d)  Aggregated information:                           Aggregated Volume: 4,84,164

     ·     Aggregated volume:                          Aggregated Value: £452,461.37

     ·     Price:
 e)  Date of the transaction:                          22 December 2021
 f)  Place of the transaction:                         Outside a trading venue

d)

Aggregated information:

·     Aggregated volume:

·     Price:

Aggregated Volume: 4,84,164

Aggregated Value: £452,461.37

e)

Date of the transaction:

22 December 2021

f)

Place of the transaction:

Outside a trading venue

 

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