REG - Seeing Machines Ltd - PDMR/PCA Dealing

Seeing MachinesAnnouncement

31/12/2024 08:00

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RNS Number : 7302R  Seeing Machines Limited  31 December 2024

31 December 2024

 

Seeing Machines Limited

 

PDMR/PCA Dealing

 

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, was notified on 31 December
2024 that Lombard Odier Asset Management (Europe) Limited ("Lombard"), an
entity closely associated with the Company's Non-Executive Director, Michael
Brown, acting in its capacity as discretionary investment manager for the
account and on behalf of funds or accounts managed by it and/or as agent of
Lombard Odier Asset Management (USA) Corp, acting as discretionary investment
manager for the account and on behalf of funds or accounts managed by them on
24 December sold 159,652,749 ordinary shares of Seeing Machine at 4.09 pence
per share.

Following this transaction Lombard holds 485,230,164 ordinary shares,
representing 9.87% of the Company's issued share capital.

 

Paul McGlone, CEO of Seeing Machines, commented:

"As detailed in the announcement on 23 December, Mitsubishi Electric Mobility
has purchased the abovementioned shares from Lombard Odier as part of their
desire to achieve 19.9% ownership in the Company, in accordance with the
Australian Corporations Act. Accessing a portion of shares from our largest
longstanding shareholder assisted in this process and demonstrates Lombard's
recognition of the significance of the agreement entered into by Seeing
Machines and Mitsubishi. We are grateful to Lombard Odier for their support in
effecting this milestone transaction and I look forward to continuing to work
with Michael Brown, who remains on our board as a non-executive director, and
our enlarged shareholder base to deliver significant value".

 

Enquiries:

 

 Seeing Machines Limited                                            +61 2 6103 4700
 Paul McGlone - CEO

 Sophie Nicoll - Corporate Communications

 Stifel (Nominated Adviser and Broker)                                                   +44 20 7710 7600
 Alex Price

 Fred Walsh

 Ben Good

 DGA Group (Media Enquiries)                                        +44 20 7664 5095

 James Styles

 Methuselah Tanyanyiwa

 Matthias Jarosz

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

 

The below notification, made in accordance with the requirements of the EU
Market Abuse Regulation, provides further detail on the transaction.

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 

 

     Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                             Lombard Odier Asset Management (Europe) Limited

     Reason for the notification
 a)  Position/Status:                                  A person closely associated with the Company's Non-Executive Director, Michael
                                                       Brown

 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

      Identification Code                              ISIN: AU0000XINAJ0

 b)  Nature of the transaction:                        Sale of Ordinary Shares

 c)  Price(s) and volume(s):                            Price(s)   Volume(s)

                                                 4.09 Pence  159,652,749

 d)  Aggregated information:                           N/A - single transaction

     ·      Aggregated volume

     ·      Price
 e)  Date of the transaction:                          24 December 2024

 f)  Place of the transaction:                         London Stock Exchange

d)

Aggregated information:

·      Aggregated volume

·      Price

N/A - single transaction

e)

Date of the transaction:

24 December 2024

 

f)

Place of the transaction:

London Stock Exchange

 

 

 

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