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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Seeing Machines Ltd | AQSE:SEE.GB | Aquis Stock Exchange | Ordinary Share | AU0000XINAJ0 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.0062 | -0.15% | 4.0438 | 3.80 | 4.30 | 4.05 | 4.0438 | 4.05 | 54,170 | 09:09:36 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMSEE
RNS Number : 6255N
Seeing Machines Limited
27 October 2016
Seeing Machines Limited
Issue of Shares to Directors and Staff
and Total Voting Rights
27 October 2016
Seeing Machines (AIM: SEE), the AIM-listed company with a focus on operator monitoring and intervention sensing technologies and services, announces that on 26 October the Board resolved to issue ordinary shares of no par value in the Company ("Ordinary Shares") and grant performance rights to certain Directors and staff under the terms of the Company's Employee Benefits Plan (the "Awards"). In line with the Company's usual practice of conducting annual reviews of performance and remuneration, the Awards are based on performance for the 2016 financial year. Consistent with past practice, the Company is also issuing Ordinary Shares as part of the remuneration of Non-Executive Directors.
The Awards
Under the Employee Benefits Plan, the Company makes the following Awards:
1. General staff award ("Award 1"): The issue of new Ordinary Shares at nil cost to eligible staff who are not covered by the Company's other incentive schemes, calculated as a standard monetary value across all individuals.
These individuals have been awarded a number of new Ordinary Shares equivalent to AUD 1,500 (GBP 938) at an issue price is 5.5847 pence per share (the "Issue Price"), pro-rated for individuals who were not eligible for the full financial year. The Issue Price is the volume weighted average share price on AIM for the 5 trading days following the publication of the Company's 2016 Annual Report and Accounts on 3 October 2016. A total of 262,980 new Ordinary Shares have been awarded to 29 staff.
2. Executive Short Term Incentive Plan ("Award 2"): The issue of new Ordinary Shares at nil cost to executives and other senior staff as a short term incentive, the value determined by the individual's performance and remuneration.
A total of 944,208 new Ordinary Shares have been issued to 17 staff at the Issue Price.
3. Executive Long Term Incentive Plan - Performance Rights ("Award 3"): The award of performance rights (the "Performance Rights") to certain executives and senior management as a long term incentive, the value determined by the individual's remuneration and performance. The number of Performance Rights offered is calculated using the same Issue Price as the other Awards. This does not involve the immediate issue of any new Ordinary Shares. Individuals are only able to exercise the Performance Rights, and have new Ordinary Shares issued to them at nil cost, if certain conditions are met.
For seven executives, the conditions are that, at 1 July 2019 (being three years from the end of the 2016 financial year): (a) the Company's share price meets a target share price set by the Board when it made the offer; and (b) the executive is still employed by the Company (subject to a limited number of exceptions). The Performance Rights vest in proportion to the target share price. If less than 90 per cent. of the target share price is achieved, then none of the Performance Rights vest.
For five senior staff, the conditions are that 50 per cent. of Performance Rights will vest on 1 July 2018 (being two years from the end of the 2016 financial year), and 50 per cent. will vest on 1 July 2019, provided the staff member is still employed by the Company (subject to a limited number of exceptions) and that their personal performance meets certain minimum standards as assessed during each annual performance review.
If these conditions are met then the staff member may exercise their Performance Rights and the Company will issue the number of new Ordinary Shares, calculated at the Issue Price, as set out in the award. If all vesting conditions are met and all Performance Rights are exercised, a total of 5,388,772 new Ordinary Shares would be issued under Award 3.
Executive Director: Ken Kroeger, Chief Executive Officer, is participating in Award 3. His shareholding is described below:
Hot Features
Premium
Holdings prior to
Awards
------------------------------- ----------- -----------------------------------------
Ordinary Shares 2,336,643 Held through Cook Kroeger Superannuation
Fund
------------------------------- ----------- -----------------------------------------
Long term incentive 2,803,125 Shares issued in 2012, vested but
plan - vested shares still held by trustee
------------------------------- ----------- -----------------------------------------
Long term incentive 4,089,628 Shares issued in 2013 & 2014, unvested,
plan - unvested shares held by trustee
------------------------------- ----------- -----------------------------------------
Long term incentive 1,680,684 Performance rights in 2015, unvested
plan - unvested performance
rights
------------------------------- ----------- -----------------------------------------
This Award
------------------------------- ----------- -----------------------------------------
Long term incentive 1,974,038 Performance Rights, unvested
plan - Award 3
------------------------------- ----------- -----------------------------------------
Holdings post Awards
------------------------------- ----------- -----------------------------------------
Sub-total - Ordinary
Shares and vested
shares 5,139,768
------------------------------- ----------- -----------------------------------------
Total 12,884,118 Includes all Ordinary Shares, vested
shares, unvested shares and unvested
performance rights. Represents
approximately 1.19 per cent. of
current total voting rights in
the Company
------------------------------- ----------- -----------------------------------------
4. Issue of Shares to Non-Executive Directors ("Award 4")
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.
A total of 969,180 new Ordinary Shares will be issued in respect of the period from 1 October 2015 to 30 September 2016 (pro-rated where the director was in office for less than the whole period) calculated at the Issue Price, allocated to Non-Executive Directors as set out in the table below.
Director New Shares issued New Total Shareholding Per cent. of total
voting rights
---------------- ------------------ ----------------------- -------------------
Terry Winters 274,438 2,166,914 0.20%
---------------- ------------------ ----------------------- -------------------
Jim Walker 164,663 320,849 0.03%
---------------- ------------------ ----------------------- -------------------
Rudy Burger 137,219 293,405 0.03%
---------------- ------------------ ----------------------- -------------------
Les Carmichael 90,978 90,978 0.01%
---------------- ------------------ ----------------------- -------------------
YK Ng 72,181 72,181 0.01%
---------------- ------------------ ----------------------- -------------------
Peter Housden 82,557 82,557 0.01%
---------------- ------------------ ----------------------- -------------------
New Ordinary Shares will also be issued to former non-executive directors David Gaul and Michael Roberts, pro-rated to cover their period in office. Mr Gaul will be issued 65,038 shares and Mr Roberts will be issued 82,106 shares.
The value of the new Ordinary Shares is included in the cap on non-executive directors' remuneration as set out in the Company's Constitution.
Note: The number of shares has been calculated using an exchange rate of 1 GBP: 1.631 AUD as at 12 October 2016.
Admission to AIM and Total Voting Rights
A total of 2,176,368 New Ordinary Shares will be issued to staff and Directors under Award 1, Award 2 and Award 4 described above. Application will be made for these 2,176,368 New Ordinary Shares to be admitted to trading on AIM. It is expected that admission will occur on 2 November 2016. Immediately following the admission of the New Ordinary Shares, the Company will have 1,075,759,779 ordinary shares in issue.
The attached notifications, made in accordance with the requirements of the EU Market Abuse Regulation, give further detail on the above.
Ken Kroeger
1. Details of the person discharging managerial responsibilities/person
closely associated
--- -------------------------------------------------------------------------
a) Name: Mr Ken Kroeger
--- ----------------------------------------- ------------------------------
2. Reason for the notification
--- -------------------------------------------------------------------------
a) Position/status: Chief Executive Officer
--- ----------------------------------------- ------------------------------
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: n/a
--- ----------------------------------------- ------------------------------
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, Performance rights (option
type of instrument: to acquire ordinary shares
of no par value subject
Identification code: to performance conditions)
ISIN: AU0000XINAJ0
--- ----------------------------------------- ------------------------------
b) Nature of the transaction: Issue of performance rights
under the Company's Employee
Benefits Plan (Award 3)
--- ----------------------------------------- ------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---------- ----------
nil 1,974,038
---------- ----------
--- ----------------------------------------- ------------------------------
d) Aggregated information: Single transaction as
* Aggregated volume: in 4 c) above
* Price:
--- ----------------------------------------- ------------------------------
e) Date of the transaction: 2016-10-27
--- ----------------------------------------- ------------------------------
f) Place of the transaction: Outside a trading venue
--- ----------------------------------------- ------------------------------
Paul Angelatos
1. Details of the person discharging managerial responsibilities/person
closely associated
--- -------------------------------------------------------------------------
a) Name: Mr Paul Angelatos
--- ----------------------------------------- ------------------------------
2. Reason for the notification
--- -------------------------------------------------------------------------
a) Position/status: Chief Operations Officer
(PDMR)
--- ----------------------------------------- ------------------------------
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: n/a
--- ----------------------------------------- ------------------------------
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, Performance rights (option
type of instrument: to acquire ordinary shares
of no par value subject
Identification code: to performance conditions)
ISIN: AU0000XINAJ0
--- ----------------------------------------- ------------------------------
b) Nature of the transaction: Issue of performance rights
under the Company's Employee
Benefits Plan (Award 3)
--- ----------------------------------------- ------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---------- ----------
nil 860,116
---------- ----------
--- ----------------------------------------- ------------------------------
d) Aggregated information: Single transaction as
* Aggregated volume: in 4 c) above
* Price:
--- ----------------------------------------- ------------------------------
e) Date of the transaction: 2016-10-27
--- ----------------------------------------- ------------------------------
f) Place of the transaction: Outside a trading venue
--- ----------------------------------------- ------------------------------
Terry Winters
1. Details of the person discharging managerial responsibilities/person
closely associated
--- ------------------------------------------------------------------------
a) Name: Mr Terry Winters
--- ----------------------------------------- -----------------------------
2. Reason for the notification
--- ------------------------------------------------------------------------
a) Position/status: Chairman
--- ----------------------------------------- -----------------------------
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: n/a
--- ----------------------------------------- -----------------------------
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
type of instrument: par value
Identification code:
ISIN: AU0000XINAJ0
--- ----------------------------------------- -----------------------------
b) Nature of the transaction: Issue of shares under
Company's Employee Benefits
Plan (Award 4)
--- ----------------------------------------- -----------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---------- ----------
Nil 274,438
---------- ----------
--- ----------------------------------------- -----------------------------
d) Aggregated information: Single transaction as
* Aggregated volume: in 4 c) above
* Price:
--- ----------------------------------------- -----------------------------
e) Date of the transaction: 2016-10-27
--- ----------------------------------------- -----------------------------
f) Place of the transaction: Outside a trading venue
--- ----------------------------------------- -----------------------------
Jim Walker
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: n/a
--- ----------------------------------------- -----------------------------
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
type of instrument: par value
Identification code:
ISIN: AU0000XINAJ0
--- ----------------------------------------- -----------------------------
b) Nature of the transaction: Issue of shares under
Company's Employee Benefits
Plan (Award 4)
--- ----------------------------------------- -----------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---------- ----------
Nil 164,663
---------- ----------
--- ----------------------------------------- -----------------------------
d) Aggregated information: Single transaction as
* Aggregated volume: in 4 c) above
* Price:
--- ----------------------------------------- -----------------------------
e) Date of the transaction: 2016-10-27
--- ----------------------------------------- -----------------------------
f) Place of the transaction: Outside a trading venue
--- ----------------------------------------- -----------------------------
Rudy Burger
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: n/a
--- ----------------------------------------- -----------------------------
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
type of instrument: par value
Identification code:
ISIN: AU0000XINAJ0
--- ----------------------------------------- -----------------------------
b) Nature of the transaction: Issue of shares under
Company's Employee Benefits
Plan (Award 4)
--- ----------------------------------------- -----------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---------- ----------
Nil 137,219
---------- ----------
--- ----------------------------------------- -----------------------------
d) Aggregated information: Single transaction as
* Aggregated volume: in 4 c) above
* Price:
--- ----------------------------------------- -----------------------------
e) Date of the transaction: 2016-10-27
--- ----------------------------------------- -----------------------------
f) Place of the transaction: Outside a trading venue
--- ----------------------------------------- -----------------------------
Les Carmichael
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: n/a
--- ----------------------------------------- -----------------------------
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
type of instrument: par value
Identification code:
ISIN: AU0000XINAJ0
--- ----------------------------------------- -----------------------------
b) Nature of the transaction: Issue of shares under
Company's Employee Benefits
Plan (Award 4)
--- ----------------------------------------- -----------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---------- ----------
Nil 90,978
---------- ----------
--- ----------------------------------------- -----------------------------
d) Aggregated information: Single transaction as
* Aggregated volume: in 4 c) above
* Price:
--- ----------------------------------------- -----------------------------
e) Date of the transaction: 2016-10-27
--- ----------------------------------------- -----------------------------
f) Place of the transaction: Outside a trading venue
--- ----------------------------------------- -----------------------------
Peter Housden
1. Details of the person discharging managerial responsibilities/person
closely associated
--- ------------------------------------------------------------------------
a) Name: Mr Peter Housden
--- ----------------------------------------- -----------------------------
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: n/a
--- ----------------------------------------- -----------------------------
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
type of instrument: par value
Identification code:
ISIN: AU0000XINAJ0
--- ----------------------------------------- -----------------------------
b) Nature of the transaction: Issue of shares under
Company's Employee Benefits
Plan (Award 4)
--- ----------------------------------------- -----------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---------- ----------
Nil 82,557
---------- ----------
--- ----------------------------------------- -----------------------------
d) Aggregated information: Single transaction as
* Aggregated volume: in 4 c) above
* Price:
--- ----------------------------------------- -----------------------------
e) Date of the transaction: 2016-10-27
--- ----------------------------------------- -----------------------------
f) Place of the transaction: Outside a trading venue
--- ----------------------------------------- -----------------------------
YK Ng
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: n/a
--- ----------------------------------------- -----------------------------
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
type of instrument: par value
Identification code:
ISIN: AU0000XINAJ0
--- ----------------------------------------- -----------------------------
b) Nature of the transaction: Issue of shares under
Company's Employee Benefits
Plan (Award 4)
--- ----------------------------------------- -----------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---------- ----------
Nil 72,181
---------- ----------
--- ----------------------------------------- -----------------------------
d) Aggregated information: Single transaction as
* Aggregated volume: in 4 c) above
* Price:
--- ----------------------------------------- -----------------------------
e) Date of the transaction: 2016-10-27
--- ----------------------------------------- -----------------------------
f) Place of the transaction: Outside a trading venue
--- ----------------------------------------- -----------------------------
Enquiries:
Seeing Machines Limited www.seeingmachines.com / +61 2 6103
4700
Ken Kroeger, Managing Director Ken.Kroeger@seeingmachines.com
and CEO
Media inquiries marketing@seeingmachines.com
finnCap Ltd, Broker for Seeing Machines
Ed Frisby / Emily Watts, Corporate
Finance +44 20 7220 0500
Joanna Scott, Corporate Broking
Newgate, Investment Communications for Seeing Machines
Bob Huxford Tel: +44 20 7653 9848 / Mob: +44
7469 154 806
Adam Lloyd Bob.huxford@newgatecomms.com
Tel: +44 20 7653 9842 / Mob: +44 7966
609 084
Adam.lloyd@newgatecomms.com
About Seeing Machines
Seeing Machines, (AIM: SEE) is focused on operator monitoring and intervention sensing technologies and services. With more than 15 years of experience, Seeing Machines uses advanced detection and prevention safety assistance technologies to track eye and facial movement in order to monitor fatigue, drowsiness and distraction events, such as microsleeps, texting and cell phone use as they occur, while providing for a real-time intervention strategy, which improves operator, driver and environmental safety, preserves assets, and reduces risk. Seeing Machines' technology is used worldwide across the automotive, mining, transport and aviation industries; as well as many of the leading academic research groups and transportation authorities. Seeing Machines is headquartered in Australia and has offices in Tucson, Arizona and Mountain View, California. The Company counts Caterpillar, Electro Motive Diesel, Progress Rail, Boeing, Takata, SEMCo, and Eye Tracking Inc among its partners.
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHFESSUWFMSEFS
(END) Dow Jones Newswires
October 27, 2016 05:14 ET (09:14 GMT)
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