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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Seeing Machines Limited | LSE:SEE | London | Ordinary Share | AU0000XINAJ0 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.05 | -1.17% | 4.24 | 4.20 | 4.25 | 4.29 | 4.15 | 4.285 | 4,409,194 | 16:35:04 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Computer Related Svcs, Nec | 57.77M | -15.55M | -0.0037 | -11.35 | 174.55M |
From Apr 2019 to Apr 2024
TIDMSEE
RNS Number : 2784Y
Seeing Machines Limited
16 May 2016
Seeing Machines Limited
("Seeing Machines" or "the Company")
Automotive Business Term Sheet Signed
16 May 2016
Seeing Machines Limited, (AIM: SEE), the AIM listed vehicle operator monitoring technology company, is pleased to announce that it has signed a term sheet with a US-based investment firm with extensive experience in automotive technologies, for investment into a separately funded company solely focused on commercialising Seeing Machines' technology in the automotive market. Seeing Machines would retain a significant equity stake in the new company. The term sheet is non-binding, except for customary legal obligations and due diligence. Seeing Machines and its advisors are working with the lead investor and other investors to finalise the investment round.
Ken Kroeger, Seeing Machines CEO commented: "This continued execution of our multi-sector transport strategy builds on our successful venture with Caterpillar for rugged off-road industries. We believe that spinning out the automotive driver monitoring business will sufficiently resource the automotive business, further develop our automotive industry relationships and maximise the return for Seeing Machines' shareholders."
"Additionally, the Company continues to develop and deliver driver monitoring systems (DMS) for a global car maker, for their first and second-generation DMS platforms, launching first in early 2018 models. The automotive industry requires the highest levels of reliability and this strong continued support confirms Seeing Machines' ability to deliver the automotive industry's requirement for driver monitoring technology."
Enquiries:
Hot Features
Premium
Seeing Machines Limited www.seeingmachines.com /
+61 2 6103 4700
Ken Kroeger, Managing Ken.Kroeger@seeingmachines.com
Director and CEO
Media inquiries: Adrian Adrian.dean@seeingmachines.com
Dean
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
Robyn McConnachie Tel: +44 20 7653 9852 / Mob:
+44 7885 466 559
Robyn.mcconnachie@newgatecomms.com
Bob Huxford
Tel: +44 20 7653 9848 / Mob:
Adam Lloyd +44 7469 154 806
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, BHP Billiton, Freeport, Electro Motive Diesel, Boeing, Takata, SEMCo and Eye Tracking Inc among its customers or partners.
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGRBXGDUSXBBGLU
(END) Dow Jones Newswires
May 16, 2016 02:00 ET (06:00 GMT)
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