RNS23 Apr 2019 09:41
Seeing Machines Limited Result of GM, Offer and Total Voting Rights
Source: UK Regulatory (RNS & others)
TIDMSEE
RNS Number : 7720W
Seeing Machines Limited
23 April 2019
23 April 2019
Seeing Machines Limited
Result of General Meeting, Offer and Total Voting Rights
Result of General Meeting
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, is pleased to report that, further to the announcements on 20 and 22 March 2019 relating to the conditional Placing and Subscriptions to raise gross proceeds of GBP27.77 million (approximately AUD51.3 million), all resolutions put to shareholders at the General Meeting held earlier today were duly passed.
Result of Offer
In addition, Seeing Machines is pleased to announce that valid acceptance have been received in respect of, and the Company will issue, 126,794,082 new Ordinary Shares (the "Offer Shares") at a price of 3 pence per Offer Share pursuant to the Offer, resulting in gross proceeds received under the Offer of GBP3.8 million (approximately AUD6.9 million).
Accordingly, pursuant to the Placing, Subscriptions and Offer, the Company has raised gross proceeds of GBP31.57 million. The Placing, Subscriptions and Offer remain conditional on admission of the Placing Shares and Subscription Shares becoming effective at 8.00 a.m. on 24 April 2019 ("Admission").
Total Voting Rights
Application has been made for a total of 1,052,402,416 Ordinary Shares to be admitted to trading on 24 April 2019. With effect from Admission, the total issued share capital of the Group will be 3,365,214,334 Ordinary Shares with no Ordinary Shares held in treasury. Therefore, the total number of voting rights in the Group will be 3,365,214,334 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.
Ken Kroeger, CEO of Seeing Machines, said:
"We are very pleased with the continued support of our shareholders. The automotive and fleet sectors are increasingly recognising the risks posed by driver inattention and fatigue in single vehicles as well as across commercial and passenger transport.
"Our industry leading driver monitoring technology, developed over many years, has been consistently validated through regulatory and government recommendations globally and with seven automotive OEM programs.
"These additional funds will be instrumental in ensuring that we are well placed to continue to leverage the market opportunities as they rapidly grow and evolve."
Enquiries:
+61 2 6103
Seeing Machines Limited www.seeingmachines.com 4700
Ken Kroeger - CEO
Sophie Nicoll - VP, Marketing & C