TIDMSEE
RNS Number : 7144J
Seeing Machines Limited
06 December 2018
Seeing Machines Limited
6 December 2018
Issue of Shares and Total Voting Rights
Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the
"Group"), the advanced computer vision technology company that
designs AI-powered operator monitoring systems to improve transport
safety, announced that the Board has issued a total of 1,376,785
ordinary shares of no par value in the Group ("New Ordinary
Shares") to key members of staff under the terms of the Group's
Short Term Incentive ("STI") scheme and, consistent with past
practice, to Non-Executive Directors as part of their remuneration
(together the "Awards").
In line with Seeing Machines' usual practice of conducting
annual reviews of performance and remuneration, the Awards made
pursuant to the STI scheme are based on performance for the
financial year to 30 June 2018.
Details of the Awards are as follows:
1. STI Scheme - variable pay component
The Group's STI scheme applies to the Chief Executive Officer
(CEO), the Executive team and selected key individuals. The Board
determines the STI component of CEO remuneration and the People,
Culture & Remuneration Committee ("PC&RC") approves
recommendations by the CEO for his/her direct reports. Awards under
the STI scheme are made annually based on a percentage of the
individuals' fixed remuneration, but are a variable pay component
and are not guaranteed.
Awards under the STI scheme are typically by way of cash,
although the Board has flexibility in determining if the awards
should be in equity, a combination of the two or at the choice of
the individual. The Group's STI scheme is designed to motivate and
reward performance over a year. Accordingly, a total of 843,343 New
Ordinary Shares have been issued as part-payment to key
individuals, none of whom are directors or Persons Discharging
Managerial Responsibilities (PDMR) of Seeing Machines.
2. Issue of Shares to Non-Executive Directors
Consistent with previous practice, up to and including FY 2018,
each Non-Executive Director of the Company receives 25 per cent of
their annual remuneration in the form of new Ordinary Shares,
issued annually in arrears.
Accordingly, a total of 533,442 New Ordinary Shares have been
issued in respect of the period from 1 July 2017 to 30 June 2018 to
current and former directors, pro-rated where the director was in
office for less than the whole period, calculated at the issue
price of 6.75 pence being the volume weighted average closing share
price on the AIM taken over the 5 trading days from 19 to 25
September 2018 (then converted using the current foreign exchange
rate, of 1 GBP = 1.80591 AUD).
The New Ordinary Shares issued to current Non-Executive
Directors, and their resultant holding in Seeing Machines, are set
out in the table below.
Director New Ordinary New Total Shareholding Per cent. of
Shares issued total voting
rights
Jim Walker 123,102 727,660 0.03%
-------------------- ---------------------------- -------------------
Rudy Burger 102,585 626,383 0.03%
-------------------- ---------------------------- -------------------
Les Carmichael 102,585 429,987 0.02%
-------------------- ---------------------------- -------------------
YK Ng 102,585 1,411,190 0.06%
-------------------- ---------------------------- -------------------
Tim Crane 102,585 643,953 0.03%
-------------------- ---------------------------- -------------------
Application has been made for the New Ordinary Shares to be
admitted to trading on AIM and admission is expected to occur on 10
December 2018 ("Admission"). Following Admission, the total issued
share capital of the Group will be 2,287,825,900 Ordinary Shares
with no Ordinary Shares held in treasury. Therefore, the total
number of voting rights in the Group post Admission will be
2,287,825,900 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.
Enquiries:
Seeing Machines Limited www.seeingmachines.com +61 2 6103 4700
Ken Kroeger, CEO
Sophie Nicoll - VP, Marketing & Communications
Cenkos Securities plc (Nominated Adviser
and Joint Broker)
Neil McDonald/Beth McKiernan/Pete Lynch +44 131 220 6939
Canaccord Genuity Limited (Joint Broker) +44 20 7523 8000
Simon Bridges/Richard Andrews
Instinctif Partners +44 20 7427 1412
Adrian Duffield/Kay Larsen/Chantal Woolcock
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
About Seeing Machines - www.seeingmachines.com
Seeing Machines (LSE: SEE), a global company headquartered in
Australia, is an industry leader in computer vision technologies
which enable machines to see, understand and assist people. The
Company's machine learning vision platform has the know-how to
deliver real-time identification and understanding of drivers
through Artificial Intelligence (AI) analysis of heads, faces and
eyes. This insight enables Driver Monitoring Systems (DMS), which
monitor driver/operator identification and attention and can detect
drowsiness and distraction across multiple transport sectors.
Seeing Machines develops DMS for the Automotive, Commercial
Fleet, Aviation, Rail and Off-Road markets. The Company has offices
in Australia, USA, Europe and Asia, and delivers multi-platform
solutions to industry leaders in each vertical.
DMS is becoming a core safety technology integrated into ADAS
offerings for the automotive industry, particularly with the
development of semi-autonomous and self-driving cars. DMS is also
increasingly seen to be an integral safety feature across the
Commercial Transport & Logistics industry globally.
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Mr Jim Walker
------------------------------------ ---------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status: Non-executive Director
------------------------------------ ---------------------------------
b) Initial notification/Amendment: Initial Notification
------------------------------------ ---------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name: Seeing Machines Limited
------------------------------------ ---------------------------------
b) LEI: 549300LNJJPZ2SU7A197
------------------------------------ ---------------------------------
4. 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 Ordinary shares of no par
instrument, type of instrument: value
ISIN: AU0000XINAJ0
Identification code:
------------------------------------ ---------------------------------
b) Nature of the transaction: Issue of shares under Company's
Employee Benefits Plan
(Award 2)
------------------------------------ ---------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
6.75 pence 123,102
----------
------------------------------------ ---------------------------------
d) Aggregated information: Single transaction as in
* Aggregated volume: 4 c) above
* Price:
------------------------------------ ---------------------------------
e) Date of the transaction: 2018-12-06
------------------------------------ ---------------------------------
f) Place of the transaction: Outside a trading venue
------------------------------------ ---------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Mr Rudy Burger
------------------------------------ ---------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status: Non-executive Director
------------------------------------ ---------------------------------
b) Initial notification/Amendment: Initial Notification
------------------------------------ ---------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name: Seeing Machines Limited
------------------------------------ ---------------------------------
b) LEI: 549300LNJJPZ2SU7A197
------------------------------------ ---------------------------------
4. 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 Ordinary shares of no par
instrument, type of instrument: value
ISIN: AU0000XINAJ0
Identification code:
------------------------------------ ---------------------------------
b) Nature of the transaction: Issue of shares under Company's
Employee Benefits Plan
(Award 2)
------------------------------------ ---------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
6.75 pence 102,585
----------
------------------------------------ ---------------------------------
d) Aggregated information: Single transaction as in
* Aggregated volume: 4 c) above
* Price:
------------------------------------ ---------------------------------
e) Date of the transaction: 2018-12-06
------------------------------------ ---------------------------------
f) Place of the transaction: Outside a trading venue
------------------------------------ ---------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Mr Les Carmichael
------------------------------------ ---------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status: Non-executive Director
------------------------------------ ---------------------------------
b) Initial notification/Amendment: Initial Notification
------------------------------------ ---------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name: Seeing Machines Limited
------------------------------------ ---------------------------------
b) LEI: 549300LNJJPZ2SU7A197
------------------------------------ ---------------------------------
4. 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 Ordinary shares of no par
instrument, type of instrument: value
ISIN: AU0000XINAJ0
Identification code:
------------------------------------ ---------------------------------
b) Nature of the transaction: Issue of shares under Company's
Employee Benefits Plan
(Award 2)
------------------------------------ ---------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
6.75 pence 102,585
----------
------------------------------------ ---------------------------------
d) Aggregated information: Single transaction as in
* Aggregated volume: 4 c) above
* Price:
------------------------------------ ---------------------------------
e) Date of the transaction: 2018-12-06
------------------------------------ ---------------------------------
f) Place of the transaction: Outside a trading venue
------------------------------------ ---------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Mr Yong Kang (YK) Ng
----------------------------------------- --------------------------------
2. Reason for the notification
---------------------------------------------------------------------------
a) Position/status: Non-executive Director
----------------------------------------- --------------------------------
b) Initial notification/Amendment: Initial Notification
----------------------------------------- --------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name: Seeing Machines Limited
----------------------------------------- --------------------------------
b) LEI: 549300LNJJPZ2SU7A197
----------------------------------------- --------------------------------
4. 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, Ordinary shares of no par
type of instrument: value
ISIN: AU0000XINAJ0
Identification code:
----------------------------------------- --------------------------------
b) Nature of the transaction: Issue of shares under Company's
Employee Benefits Plan (Award
2)
----------------------------------------- --------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
6.75 pence 102,585
----------
----------------------------------------- --------------------------------
d) Aggregated information: Single transaction as in
* Aggregated volume: 4 c) above
* Price:
----------------------------------------- --------------------------------
e) Date of the transaction: 2018-12-06
----------------------------------------- --------------------------------
f) Place of the transaction: Outside a trading venue
----------------------------------------- --------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Mr Timothy Crane
----------------------------------------- --------------------------------
2. Reason for the notification
---------------------------------------------------------------------------
a) Position/status: Non-executive Director
----------------------------------------- --------------------------------
b) Initial notification/Amendment: Initial Notification
----------------------------------------- --------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name: Seeing Machines Limited
----------------------------------------- --------------------------------
b) LEI: 549300LNJJPZ2SU7A197
----------------------------------------- --------------------------------
4. 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, Ordinary shares of no par
type of instrument: value
ISIN: AU0000XINAJ0
Identification code:
----------------------------------------- --------------------------------
b) Nature of the transaction: Issue of shares under Company's
Employee Benefits Plan (Award
2)
----------------------------------------- --------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
6.75 pence 102,585
----------
----------------------------------------- --------------------------------
d) Aggregated information: Single transaction as in
* Aggregated volume: 4 c) above
* Price:
----------------------------------------- --------------------------------
e) Date of the transaction: 2018-12-06
----------------------------------------- --------------------------------
f) Place of the transaction: Outside a trading venue
----------------------------------------- --------------------------------
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END
MSCUGGMPPUPRGCQ
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December 06, 2018 09:33 ET (14:33 GMT)
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