Seeing Machines Regulatory News (SEE)

25 Sep 2007 10:23

Seeing Machines Limited25 September 2007 25 September 2007 Seeing Machines Limited ("Seeing Machines" or the "Company") Further Placing Further to yesterday's announcement (24 September 2007) regarding a fundraising, Seeing Machines (AIM: SEE), a leading developer of advanced computerbased imaging software systems, is pleased to announce the conclusion today ofthe supplementary fund raising of £112,869.85 before expenses via the issue of4,514,794 new Ordinary Shares at 2.5p per share through a placing (the "FurtherPlacing") to directors and staff of the Company, conditional on shareholderapproval. The Further Placing is in addition to the placing announced yesterday of up to51,485,206 new ordinary shares at 2.5 pence per share (the "Placing") and bringsthe potential total of the funds raised in the combined placings to £1.4 millionbefore expenses, via the issue of up to 56,000,000 new ordinary shares at the2.5p per share placing price. Commenting on the two placings Fulton Muir, Chairman of Seeing Machines said "The funds raised in this placing provide a solid base of working capital for thecompany to accelerate the commercialization of our new product lines, includingthe Driver State Sensor, faceAPI and the upcoming TrueField Analyzer. Theseefforts comprise a central element of our strategy to transition the Companyfrom its history of development and net cash burn to self sustainability and touse that as a platform to realize our significant commercial potential. Theplacing has been fully subscribed, and at a placing price of 2.5 pence per shareit compares favourably with the prevailing mid-market price of 2.375 pence pershare." As announced yesterday a circular containing a Notice of Meeting convening aGeneral Meeting of the Company in Acton, ACT, Australia on 26 October 2007 forthe purpose of seeking the required shareholder approval for the two placingshas been posted to shareholders and is available from the investor pages of theCompany's web site www.seeingmachines.com. A presentation by the Companyprovided to potential investors in the Placing is also available from those samepages on the Company's website. --- ENDS --- Enquiries: Seeing Machines Limited Insinger de Beaufort Parkgreen CommunicationsNick Cerneaz, CEO Peter Ward, Chris Ben Knowles, Erica Caldwell Nelson+61 (0) 2 6125 6501 +44 (0) 20 7190 7015 +44 (0) 20 7851 7480www.seeingmachines.com Notes to editors: About Seeing Machines Seeing Machines is an award winning Technology Company which focuses on visionbased human machine interfaces. Formed in 2000 in Canberra, Australia, SeeingMachines' purpose is to commercialise its computer-vision across a range ofindustries and applications. Seeing Machines deliver advanced computer vision solutions for researches anddevelopers in human factors, transportation safety, computer human interaction,robotics, medical research and psychology. The flagship product faceLAB(R)provides an automated and contact-free gaze and head tracking technology, itsolves the problem of observing human behaviour naturally, non-intrusively andwith a high degree of accuracy and usability. Building on these unique facetracking and pupil measurement and monitoring capabilities, the TrueFieldAnalyzer(R) is new medical device to assist clinicians detect and manage eyediseases such as glaucoma. The TrueField Analyzer(R) offers a new objective method to help doctors diagnoseand manage a range of eye diseases including glaucoma, age related maculardegeneration and diabetic retinopathy. Glaucoma affects about 2-3% of thepopulation over 40 years of age and is a leading source of blindness. Unlikemost other devices available to the clinician the TrueField Analyzer is acompletely objective test and it is quick and easy for patients and techniciansalike. The device measures both eyes concurrently and due to the reliabilitythat arises from the objective nature of the test, it has the potential tobecome a new standard in the measurement of visual field defects and thus in thediagnosis and management of disease such as glaucoma. More generally Seeing Machines' computer vision systems are able to measure theorientation and position of a human head, estimate eye-gaze direction, detecteye blinks and track other facial features. This functionality is achievedentirely though visual means, using video cameras connected to advanced imageprocessing software, with no attachments required on the subject. Products suchas faceLAB(R) are designed to allow human factors researchers and designers toassess the interaction of an operator in an environment and this findsapplication in designing operator environments, such as cockpits for cars,trucks, trains, and aeroplanes for instance, and other industrial designapplications, as well as medical and psychological research situations. Thetechnology has been developed into the Driver State Sensor (DSS2) product forapplication in monitoring vehicle drivers and if it detects drowsiness (fatigue)or that the driver is distracted and their attention has been diverted from theroad, alarms are raised to alert the driver to these events. In largerdeployments, such as in fleet and mining equipment operations, the data isavailable in both real-time and off-line modes for fleet management, drivertraining and awareness programs The systems work in real-time, enabling the behaviour of subjects to be trackedin real-time. This technology is paving the way in promoting safer drivingconditions and works to enhance the driving experience and to eliminateaccidents caused through driver drowsiness or distraction. There are many different sectors that can benefit from this revolutionarysoftware, for which it has been developed, including: automotive; academicresearch; medicine/healthcare; defence; autostereoscopy (next generationdisplays); sport; and games. This information is provided by RNS The company news service from the London Stock Exchange