Seeing Machines Share Discussion Threads

[unionhall] 23/10/2020 08:56

I don't think a US institutional investor will have invested $20m based on a few recent RNS'- fluff or otherwise. They are not idiots and will have done extensive due-diligence over months.

I am happy this is out of the way as it has always been a possible blot on the horizon.

It is at a very small discount which is great.

At least now, if the contracts do land, there is no reason for the share-price not to respond as we have all been hoping.

All imho....

[sarumike] 23/10/2020 08:34

Another placing, more dilution. Jam tomorrow.They need to start winning sizeable contracts.

[base7] 23/10/2020 08:23

Our share price performance over the last few days made this predictable & we all now want to know who the Investor is & a 10% dilution will hopefully prove to be a small price to pay.Hopefully we didn’t desperately need the funds but the strategic investor wanted 10% in new shares rather than buying in The Market -k owing that would force the price higher.For a tiny speculative tech stock a large % of our shares are now owned by IIs.I take this as a positive & hopefully our share price will respond the way SEYEs did after their recent raise

[abid6814] 23/10/2020 07:47

This feels like relatively good news considering the last fundraise was at 3p.Takes away lingering concerns in relation to funding ahead of what I hope as others do on this board for some material RNS announcements with financial amounts. Somewhat ironic the first one of those is a fundraiser!What I am most interested in is who is the strategic U.S investor and what signal that will send to the market when we know who it is next week.Does it also give Lombard and others an opportunity to also increase their investment through open buying on the market to retain their pre dilution stakes.Now let's see what happens next!

[amt] 23/10/2020 07:20

I thought they had enough cash, what's going on.

[amt] 23/10/2020 07:19

USD 20m raised by placing. Why don't they name the investor, it will show up in the holdings. 10% dilution.

[skinny] 23/10/2020 07:16

.

Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the "Company"), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, annouces that it has issued 372,000,000 new ordinary shares of no par value each (the "New Ordinary Shares") to a well known US institutional investor, at a price of 4.10 pence per New Ordinary Share, raising gross proceeds of approximately US$20 million (the "Placing"). The Placing was introduced and arranged by Stifel, and was conducted at a modest premium.

The net proceeds of the Placing will be used to strengthen the Company's balance sheet and for general working capital and corporate purposes.

Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur and dealings will commence in the New Ordinary Shares at 8.00 a.m. on 28 October 2020.

Total Voting Rights

Following Admission, the Company's issued and fully paid share capital will consist of 3,737,214,374 ordinary shares, all of which carry one voting right per share. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of ordinary shares and voting rights in the Company will be 3,737,214,374. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Paul McGlone, CEO of Seeing Machines, comment: "This strategic placement is the first success in our strategy to attract new US-based support for the company and I believe this transaction will generate additional significant on market interest from more US-based growth-focused technology investors.

"This support represents fresh validation of our strategy and that the business is truly at an inflection point underpinned by Seeing Machines' world-leading technology and people. We are delighted that this placement, together with our other initiatives and business opportunies is expected to fully fund our current business plan."

[unionhall] 22/10/2020 21:53

I cannot see the finals making any difference unless they give very specific guidance to much increased revenues in 2020/21.

They need to release contract info with monetary values attached imo.

They have issued every other type of RNS.

[rjcdc] 22/10/2020 21:46

There are loads of applications and the potential is huge... they just need to start earning some dollars from something other than fleet.....

Intrigued to see how this will look after the finals. Might be exactly as expected in which case it’s another waiting game for 6 months...

[shallwe] 22/10/2020 16:40

Exactly. Happy days ahead.

[dc74] 22/10/2020 16:32

If you can add air traffic control stations to aviation, not a giant leap then you have a further market. Thinking further outside transport and into robotics how well could See help robots interpret human emotions.

[shallwe] 22/10/2020 15:15

DMS is big, but it's not all about DMS. Look at the three pillars (RNS a few weeks ago), aviation (think yesterday's RNS), fleet, general licencing deals (recent semiconductor RNS) and to a lesser extent rail and medical and not forgetting Caterpillar.The market is huge and at long last it's being sold correctly via license deals.The future is very visible - pun intended.

[rjcdc] 22/10/2020 14:13

Chart wise the retrace isn’t actually that bad a thing... especially if it holds here. It does suggest the next leg up will push beyond recent highs...

But Wtf does anyone know about anything anymore...

[base7] 22/10/2020 12:57

I agree that there will be OEMs who will want to pay lip service to DMS & buy the cheapest product in the market -although my understanding is that we have a low cost option which would be cheaper than our competitors while being technologically superior.There are , of course, also OEMs who dont believe that DMS is of any value, eg Tesla, despite their surging sales

[skinny] 22/10/2020 12:54

And therein lies the rub!

[seans66] 22/10/2020 12:51

All car companies want to improve safety. SEE tech is proven to do that. Let's see how the next 6 months play out. One decent confirmed contract & this will rocket.

[gnnmartin] 22/10/2020 12:38

I've sold most of my SEE, though I still have 100,000. The problem for SEE that worries me is that, paradoxically, the fact that driver alertness monitoring is now (or shortly to be) mandated is actually bad for SEE. If a company wishes to install a device because it thinks it will give it a USP in the marketplace, it is quite likely to choose the best device available. But if a company is forced to instal a device that it is not convinced its customers want, it is quite likely to install the cheapest.

I saw this played out when tyre pressure monitoring was mandated. There were schemes that gave accurate tyre readings all the time, and there were cheaper cunning schemes that gave a warning when the car was in motion if the tyre pressures were grossly out of spec. The latter were cheaper and outsold the former.

[shallwe] 22/10/2020 11:42

'around 3p'Good luck. Lol.

[insideryou] 22/10/2020 09:45

Hence why I sold out at 4.6...hoping to buy back around 3p

[rjcdc] 22/10/2020 09:29

Ffs, this share does my nut.

Let’s see where it ends the day...

[skinny] 22/10/2020 08:59

Back below 4p again!

[base7] 22/10/2020 07:55

I have never come across a company who obsess so openly about their primary competitor & I am not even sure that it is ethical.They have clearly been doing well ,certainly as reflected in their SP,if not increasing revenue,diverse income streams & technological advances.If they & we win 30% + of the total Market, we will all be doing well & we have 2 additional divisions (Fleet already being profitable ) which will be major contributors to our offering.I am majorly disappointed that our share price has made no progress & I hope that in the Finals statement PM is able to provide reassurance that a fundraising will not be necessary.
We have been on the "charm offensive " since Sept with several positive RNS s ,although none of which refer to $$$ & a concern of mine is that this offensive was intended to bolster our share price ahead of a "final" fundraising, but we will soon know.
there remains scope for more positive news before Results & perhaps our first MOU will be announced as a contract .