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Seeing Machines Limited was notified on 31 December 2024 that Lombard Odier Asset Management (Europe) Limited, a person closely associated with Non-Executive Director Michael Brown, sold 159,652,749 ordinary shares. This transaction occurred on 24 December 2024 at 4.09 pence per share on the London Stock Exchange. Following the sale, Lombard holds 485,230,164 ordinary shares, representing 9.87% of the Company's issued share capital.
| Date | 31 Dec 2024 |
| Time | 08:00:01 |
| Category | Director/PDMR dealings |
| ID | 7302R |
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:
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Seeing Machines Limited |
+61 2 6103 4700 |
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Paul McGlone - CEO Sophie Nicoll - Corporate Communications |
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Stifel (Nominated Adviser and Broker) |
+44 20 7710 7600 |
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Alex Price Fred Walsh Ben Good |
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DGA Group (Media Enquiries) James Styles Methuselah Tanyanyiwa Matthias Jarosz |
+44 20 7664 5095
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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.
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
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Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name: |
Lombard Odier Asset Management (Europe) Limited
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Reason for the notification |
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Position/Status: |
A person closely associated with the Company's Non-Executive Director, Michael Brown
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b) |
Initial notification/Amendment: |
Initial notification
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name: |
Seeing Machines Limited
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b) |
LEI: |
549300LNJJPZ2SU7A197
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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 |
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a) |
Description of the financial instrument, type of
Identification Code
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Ordinary shares of nil par value
ISIN: AU0000XINAJ0 |
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b) |
Nature of the transaction: |
Sale of Ordinary Shares
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c) |
Price(s) and volume(s):
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d) |
Aggregated information: · Aggregated volume · Price |
N/A - single transaction |
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e) |
Date of the transaction: |
24 December 2024
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f) |
Place of the transaction: |
London Stock Exchange
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