Seeing Machines Limited Distributor Orders 1,000 Guardian units (3223B)

TIDMSEE

RNS Number : 3223B

Seeing Machines Limited

16 June 2016

Seeing Machines Limited

("Seeing Machines" or the "Company")

South-East Asian Distributor Orders 1,000 Guardian units

16 June 2016

Seeing Machines Limited, (AIM: SEE), the AIM listed vehicle operator monitoring technology company, is pleased to announce the appointment of Guardian South East Asia Pte. Ltd. ("Guardian SEA") as a non-exclusive distributor to market, sell and service Seeing Machines' Guardian driver fatigue and distraction intervention solution in Singapore and Malaysia. As part of the agreement, Guardian SEA has purchased 1,000 Guardian units on normal commercial terms, the Company's single largest sale of Guardian units to date.

Guardian SEA is wholly owned by V S Industry Berhad ("VSI"), a leading integrated electronics manufacturing services provider, and a strategic investor in Seeing Machines. Guardian SEA and VSI bring extensive regional knowledge and industry relationships to accelerate market penetration of Seeing Machines' Guardian Solution into the South-East Asian region.

Seeing Machines and Guardian SEA expect to capitalise on the significant growth in cross-border transportation of goods between Singapore, Malaysia and Thailand, as well as the opportunity to protect passengers using extensive public bus networks in Singapore and other major cities in the region. Seeing Machines and Guardian SEA have been actively working on opportunities in the public bus market, including by conducting joint product demonstrations with local public transport authorities.

Paul Angelatos, COO of Seeing Machines: "We're very excited to be working with the team at Guardian South-East Asia and formally expand our operations in the region. Their expertise and local relationships will help to protect not only drivers, but also millions of commuters who rely upon safe, efficient public transportation."

For the purposes of the AIM Rules, VSI is a related party of the Company as it holds 12.1 per cent. of the issued share capital of the Company and is therefore a substantial shareholder. As a result, the purchase of the 1,000 Guardian units by VSI constitutes a related party transaction for the purposes of the AIM Rules. Accordingly, under AIM Rule 13, the Company's directors (with the exception of Mr YK Ng, who is also a director of VSI) confirm that they consider, having consulted with the Company's nominated adviser, that the terms of this transaction are fair and reasonable insofar as the Company's shareholders are concerned.

Enquiries:

 
 Seeing Machines Limited      www.seeingmachines.com / 
                               [phone] 
 Ken Kroeger, Managing        [e-mail] 
  Director and CEO 
 Media inquiries: Adrian      [e-mail] 
  Dean 
  finnCap Ltd, Broker for Seeing Machines 
  Ed Frisby / Emily Watts, 
   Corporate Finance          [phone] 
  Joanna Scott, Corporate 
   Broking 
  Newgate, Investment Communications for Seeing Machines 
  Robyn McConnachie           Tel: [phone] / Mob: 
                               [phone] 
                               [e-mail] 
   Bob Huxford 
                               Tel: [phone] / Mob: 
   Adam Lloyd                  [phone] 
                               [e-mail] 
 
                               Tel: [phone] / Mob: 
                               [phone] 
                               [e-mail] 
 
 

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, 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

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June 16, 2016 02:00 ET (06:00 GMT)