REG - Seeing Machines Ltd - Issue of Shares and Total Voting Rights

Seeing MachinesAnnouncement

21/11/2024 08:30

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RNS Number : 1560N  Seeing Machines Limited  21 November 2024

 

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:

 

 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

 

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 (http://www.seeingmachines.com)

 

 

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