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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.185 | 4.40% | 4.39 | 4.30 | 4.34 | 4.505 | 4.185 | 4.295 | 7,555,243 | 16:35:25 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Computer Related Svcs, Nec | 57.77M | -15.55M | -0.0037 | -11.62 | 178.71M |
From Apr 2019 to Apr 2024
TIDMSEE
RNS Number : 0321J
Seeing Machines Limited
26 June 2017
Seeing Machines Limited
("Seeing Machines", the "Company", or, together with its subsidiaries the "Group")
CEO Long Term Incentive Equity Program
26 June 2017
Seeing Machines (AIM:SEE), an industry leader in computer vision based human sensing technologies which enable breakthrough solutions in performance, safety and user experiences, advises that further to the announcement on 9 May 2017, the Remuneration Committee has granted incentive equity rights to recently appointed CEO Mike McAuliffe (the "Grant Date") under its CEO Long Term Incentive Equity Program.
Subject to his continued employment with the Seeing Machines group, Mr McAuliffe has been granted rights to acquire 37,161,379 ordinary shares of no par value in the Company ("Ordinary Shares"), totaling 2.5% of the Company's current issued share capital. Two thirds of the rights (representing 24,786,640 Ordinary Shares) have been granted as options over Ordinary Shares ("Options") and one third (12,374,739 Ordinary Shares) have been granted as performance rights (the "Performance Rights"). Both the Options and Performance Rights will vest monthly over 48 months, with the first vesting date being 29 August 2016, the date Mr McAuliffe began employment with the Group.
The Performance Rights entitle Mr McAuliffe to be automatically issued 257,807 Ordinary Shares for no exercise price, on a monthly basis. The Options vest in equal tranches (being 516,388 Options) on a monthly basis and can be exercised at Mr McAuliffe's discretion over a ten year period at an exercise price of 3.89 pence, which is the average market price of the Company's shares over the 5 trading days before the Grant Date and they shall expire on the tenth anniversary of the first vesting date of 29 June 2017. The schedule of Options and Performance rights are set out in a table below.
Blocking Listing Application
The Company today announces that an application has been made to the London Stock Exchange for a block listing of securities in respect of 37,161,379 Ordinary Shares to be admitted to trading on AIM.
These Ordinary Shares will be issued from time to time in order to satisfy the requirement to allot Ordinary Shares arising from the Options and Performance Rights detailed above. It is expected that admission will become effective on 29 June 2017.
The Ordinary Shares will be issued credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares of the Company. The Company will provide six monthly updates in its block listing return, at which point any changes to total voting rights arising from the issuance of Ordinary Shares from Performance Rights will also be stated.
Mike McAuliffe
Hot Features
Premium
Details of the person discharging managerial
responsibilities/person closely associated
--- ----------------------------------------------------------------------
a) Name: Mr Michael McAuliffe
--- --------------------------------- -----------------------------------
Reason for the notification
--- ----------------------------------------------------------------------
a) Position/status: Chief Executive Officer
--- --------------------------------- -----------------------------------
b) Initial notification/Amendment: Initial notification
--- --------------------------------- -----------------------------------
Details of the issuer, emission allowance market
participant, auction platform, auctioneer or
auction monitor
--- ----------------------------------------------------------------------
a) Name: Seeing Machines Limited
--- --------------------------------- -----------------------------------
b) LEI: n/a
--- --------------------------------- -----------------------------------
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 Performance Rights
instrument, type of instrument: and Options Grant
ISIN: AU0000XINAJ0
Identification code:
--- --------------------------------- -----------------------------------
b) Nature of the transaction: Issue of performance
rights and share
options
--- --------------------------------- -----------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
------------------- -----------
Nil - performance
rights 12,374,739
------------------- -----------
3.89 pence
- options 24,786,640
------------------- -----------
Total 37,161,379
------------------- -----------
--- --------------------------------- -----------------------------------
d) Aggregated information: See 4c) above and
* Aggregated volume: the schedules appended
to this announcement
* Price:
--- --------------------------------- -----------------------------------
e) Date of the transaction: 2017-06-23
--- --------------------------------- -----------------------------------
f) Place of the transaction: Outside a trading
venue
--- --------------------------------- -----------------------------------
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
Enquiries:
Seeing Machines Limited www.seeingmachines.com
/ +61 2 6103 4700
Mike McAuliffe, CEO Mike.McAuliffe@seeingmachines.com
Media enquiries Sophie.Nicoll@seeingmachines.com
finnCap Limited
Ed Frisby / Emily Watts, Corporate
Finance +44 20 7220 0500
Tim Redfern / Richard Chambers,
Corporate Broking
Canaccord Genuity Limited
Simon Bridges +44 20 7523 8000
About Seeing Machines
Seeing Machines, (AIM: SEE) is an industry leader in computer vision based human sensing technologies which enable breakthrough solutions in performance, safety and user experiences. With more than 15 years of R&D investment and proven industry experience, Seeing Machines uses advanced sensing technologies and machine learning algorithms to deliver precision tracking and analysis of heads, faces and eyes for multiple emerging applications. A primary application is Driver Monitoring Systems to detect and deal with drowsiness, distraction and broader cognitive states which enables intelligent ADAS / Autonomous Driving adoption. A further key application is in-vehicle real time delivery of precision eye tracking in real world conditions, normalizing for all light conditions (and challenges such as sunglasses) for smart display systems etc. It delivers its AI based technology platform in a range of solutions from embedded software to proprietary processors to full systems including a 24/7 monitoring and intervention telematics service ("Guardian") for the commercial trucking sector - which prevents accidents and saves costs and lives. Seeing Machines' technology has been adopted by global industry leaders across the transportation spectrum such as Caterpillar. Seeing Machines is headquartered in Canberra, Australia and currently has offices and people in Melbourne, Tucson, Silicon Valley, Detroit and UK.
The attached notifications, made in accordance with the requirements of the EU Market Abuse Regulation, give further detail on the above.
Performance Rights
Vesting Schedule
Number of
rights 12,374,739
Vesting
start date 29-Aug-16
Number of
months 48
Number vesting per
month 257,807
Vest this Cumulative
Year Month month vested
2016 Sep 257,807 257,807
Oct 257,807 515,614
Nov 257,807 773,421
Dec 257,807 1,031,228
2017 Jan 257,807 1,289,035
Feb 257,807 1,546,842
Mar 257,807 1,804,649
Apr 257,807 2,062,457
May 257,807 2,320,264
Jun 257,807 2,578,071
Jul 257,807 2,835,878
Aug 257,807 3,093,685
Sep 257,807 3,351,492
Oct 257,807 3,609,299
Nov 257,807 3,867,106
Dec 257,807 4,124,913
2018 Jan 257,807 4,382,720
Feb 257,807 4,640,527
Mar 257,807 4,898,334
Apr 257,807 5,156,141
May 257,807 5,413,948
Jun 257,807 5,671,755
Jul 257,807 5,929,562
Aug 257,807 6,187,370
Sep 257,807 6,445,177
Oct 257,807 6,702,984
Nov 257,807 6,960,791
Dec 257,807 7,218,598
2019 Jan 257,807 7,476,405
Feb 257,807 7,734,212
Mar 257,807 7,992,019
Apr 257,807 8,249,826
May 257,807 8,507,633
Jun 257,807 8,765,440
Jul 257,807 9,023,247
Aug 257,807 9,281,054
Sep 257,807 9,538,861
Oct 257,807 9,796,668
Nov 257,807 10,054,475
Dec 257,807 10,312,283
2020 Jan 257,807 10,570,090
Feb 257,807 10,827,897
Mar 257,807 11,085,704
Apr 257,807 11,343,511
May 257,807 11,601,318
Jun 257,807 11,859,125
Jul 257,807 12,116,932
Aug 257,807 12,374,739
Options Vesting Schedule
Number of rights 24,786,640
Vesting start date 29-Aug-16
Number of months 48
Number vesting per
month 516,388
Vest this Cumulative
Year Month month vested
2016 Sep 516,388 516,388
Oct 516,388 1,032,777
Nov 516,388 1,549,165
Dec 516,388 2,065,553
2017 Jan 516,388 2,581,942
Feb 516,388 3,098,330
Mar 516,388 3,614,718
Apr 516,388 4,131,107
May 516,388 4,647,495
Jun 516,388 5,163,883
Jul 516,388 5,680,272
Aug 516,388 6,196,660
Sep 516,388 6,713,048
Oct 516,388 7,229,437
Nov 516,388 7,745,825
Dec 516,388 8,262,213
2018 Jan 516,388 8,778,602
Feb 516,388 9,294,990
Mar 516,388 9,811,378
Apr 516,388 10,327,767
May 516,388 10,844,155
Jun 516,388 11,360,543
Jul 516,388 11,876,932
Aug 516,388 12,393,320
Sep 516,388 12,909,708
Oct 516,388 13,426,097
Nov 516,388 13,942,485
Dec 516,388 14,458,873
2019 Jan 516,388 14,975,262
Feb 516,388 15,491,650
Mar 516,388 16,008,038
Apr 516,388 16,524,427
May 516,388 17,040,815
Jun 516,388 17,557,203
Jul 516,388 18,073,592
Aug 516,388 18,589,980
Sep 516,388 19,106,368
Oct 516,388 19,622,757
Nov 516,388 20,139,145
Dec 516,388 20,655,533
2020 Jan 516,388 21,171,922
Feb 516,388 21,688,310
Mar 516,388 22,204,698
Apr 516,388 22,721,087
May 516,388 23,237,475
Jun 516,388 23,753,863
Jul 516,388 24,270,252
Aug 516,388 24,786,640
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHGMGZVMFVGNZM
(END) Dow Jones Newswires
June 26, 2017 02:00 ET (06:00 GMT)
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