Seeing Machines Limited
("Seeing Machines" or the "Company")
Result of Offer and Total Voting Rights
16 January 2018
Seeing Machines Limited (AIM: SEE) ("Seeing Machines" or the "Company"), an industry leader in computer vision technologies which enable machines to see, understand and assist people, is pleased to announce that further to the announcement made on 5 December 2017, the Offer was significantly oversubscribed by nearly five times with valid acceptances having been received in respect of 236,832,787 Ordinary Shares.
Qualifying Participants have been scaled back proportionately to their applications, resulting in gross proceeds to be received under the Offer of £2.40 million (approximately AUD 4.16 million), through the issue of 48,000,000 new Ordinary Shares (the "Offer Shares") at a price of 5 pence per Offer Share. The Offer follows the earlier successful fundraising of £35 million.
Application has been made for the Offer Shares to be admitted to trading on AIM and admission is expected to occur on 17 January 2018 ("Admission"). Following Admission, the total issued share capital of the Company will be 2,240,438,973 Ordinary Shares with no Ordinary Shares held in treasury. Therefore, the total number of voting rights in the Company post Admission will be 2,240,438,973 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.
Capitalised terms not otherwise defined in this announcement shall have the same meaning ascribed to such terms in the announcement entitled "Successful Placing and Subscriptions to raise £35m" released on 5 December 2017, unless the context requires otherwise. 1 GBP:1.73 AUD.
Mike McAuliffe, CEO commented: "We are very pleased by this overwhelming demand in the Seeing Machines public offer, building on the recent over-subscribed £35 million institutional offer. We are gratified in the confidence placed in us by our existing and many new shareholders who see the significant market opportunity for the Company and more importantly the capability and progress of the Company towards realising these opportunities. We are fully committed to achieving these growth goals for all stakeholders and shareholders."
Enquiries:
Seeing Machines Limited |
www.seeingmachines.com / +61 2 6103 4700 |
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Mike McAuliffe, CEO |
[email protected] |
Media enquiries |
[email protected] |
finnCap Ltd |
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Ed Frisby / Emily Watts, Corporate Finance |
+44 20 7220 0500 |
Tim Redfern / Richard Chambers, Corporate Broking |
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Canaccord Genuity Limited |
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Simon Bridges |
+44 20 7523 8000 |
Richard Andrews Alexander Napier |
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About Seeing Machines
Seeing Machines (LSE: SEE) is an industry leader in computer vision technologies which enable machines to see, understand and assist people. The Company deploys its machine learning vision platform to deliver real-time understanding of people and drivers through AI analysis of head-tracking, face-tracking and eye-tracking for Driver Monitoring Systems (DMS), which monitor driver attention state including drowsiness and distraction. DMS is now considered a primary automotive safety technology as well as a core enabling technology for ADAS/Autonomous Driving. The Company's pioneering commercial fleet solution (Guardian) delivers an after-market, in-cabin safety intervention system with 24/7 monitoring and cloud analytics services delivered on a telematics SaaS basis. The Company also serves the Aviation, Rail and Off-Road markets as well as driving innovative solutions for new markets. Based in Canberra, Australia with a growing global footprint, the Company delivers multi-platform solutions from embedded software and processors to aftermarket systems and service solutions to industry leaders globally. www.seeingmachines.com.
