Seeing Machines Limited Statement regarding Press Speculation (2368H)

TIDMSEE

RNS Number : 2368H

Seeing Machines Limited

09 March 2018

9 March 2018

Seeing Machines Limited

Statement regarding Press Speculation

Seeing Machines Limited (AIM: SEE) ("Seeing Machines" or the "Company"), an industry leader in computer vision technologies which enable machines to see, understand and assist people, notes the recent press rumour and speculation and confirms that it is in negotiations to deliver its FOVIO Driver Monitoring Systems ("DMS") for an additional new Automotive OEM.

If secured, this program design win would be a significant win for Seeing Machines, working with one or more Tier 1 automotive supplier for a new third OEM, again validating the strengths of the FOVIO DMS.

This opportunity forms a part of Seeing Machines' current potential sales pipeline, and if won, would not materially change management's overall expectations in relation to likely financial performance of the business in the coming years. At this time there can be no certainty that this sales opportunity will result in a sales contract for the Company. A further announcement will be made as and when appropriate.

Enquiries:

 
 Seeing Machines Limited               www.seeingmachines.com / +61 
                                        2 6103 4700 
 Ken Kroeger, Executive Chairman       [e-mail] 
  & Interim CEO                         [e-mail] 
  Media inquiries 
 
 finnCap Ltd (Nominated Adviser 
  and Joint Broker)                    [phone] 
 Ed Frisby / Emily Watts, Corporate 
  Finance 
  Tim Redfern / Richard Chambers, 
  Corporate Broking 
 
 Canaccord Genuity Limited (Joint 
  Broker)                              [phone] 
 Simon Bridges 
  Richard Andrews 
  Alexander Napier 
 

About Seeing Machines

Seeing Machines (LSE: SEE) is an industry leader in computer vision technologies which enable machines to see, understand and assist people. The Company deploys its FOVIO machine learning vision platform to deliver real-time understanding of drivers through AI analysis of heads, faces and eyes for Driver Monitoring Systems (DMS), which monitor driver attention state including drowsiness and distraction. DMS is increasingly considered a core automotive safety technology as well as an enabling technology for ADAS/Autonomous Driving. The Company's pioneering commercial fleet solution (Guardian) delivers an after-market, in-cabin safety intervention system with 24/7 monitoring and cloud analytics services delivered on a telematics SaaS basis. The Company also serves Aviation, Rail and Off-Road markets, and they are seeking to innovate in new markets. Based in Canberra, Australia with the intention to grow in the USA and Europe, the Company delivers multi-platform solutions from embedded software and processors to aftermarket system and service solutions to industry leaders globally. www.seeingmachines.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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March 09, 2018 02:52 ET (07:52 GMT)