Business
Admission to AIM-Replacement
Admission to AIM-Replacement.
About this update from Seeing Machines Limited
[{"type":"text","content":"\n Seeing Machines Limited\n01 December 2005\n\nThis announcement replaces the RNS announcement (reference number 9511U)\nreleased at 07:00am on 1 December 2005. The number of Ordinary Shares in issue\nprior to admission should have read 191,212,874. The full amended press release\nis below:\n\n\n\n1st December 2005\n\n\n\n\n Seeing Machines Limited\n\n Placing and Admission to AIM\n\n\n\nSeeing Machines Limited ('Seeing Machines' or 'the Company') announces it has\ntoday commenced trading on AIM (TIDM: SEE) following the successful placing of\n55 million Placing Shares at 3p to raise approximately £1.65 million gross.\nInsinger de Beaufort acted as Nominated Adviser and Broker.\n\n\n\nKey Statistics\n\nPlacing Price 3p\nNumber of Ordinary Shares in issue immediately prior to Admission 191,212,874\nNumber of Ordinary Shares to be conditionally issued on Admission 8,787,129\nNumber of Placing Shares 55,058,328\nNumber of Ordinary Shares in issue immediately following Admission (including the Placing\nShares) 255,058,331\nPlacing Shares as a percentage of the Enlarged Share Capital 21.59%\nMarket capitalisation of the Company at the Placing Price on Admission £7.65m\nEstimated net proceeds of the Placing receivable by the Company £1.25m\n\n\n\nThe principal activity of the Company is the development of computer vision\nprocessing technologies that allow machines to see and track human faces and\nmoving objects. These technologies are used in the development of new products\nand applications that range from devices to improve road safety and save lives\nto those that can detect and manage eye disease and prevent loss of eyesight.\n\n\n\nThe proceeds of the Placing will be used to:\n\n• implement product development opportunities in global automotive,\n transport and healthcare markets;\n\n• fund further development of the existing technology portfolio;\n\n• investigate and progress the commercialisation of opportunities in new\n markets such as entertainment, robotics and security;\n\n• expand the sales team and establish a European office; and\n\n• for general working capital purposes.\n\n\n\nSeeing Machines is based at the Australian National University Campus in\nCanberra. It was incorporated in July 2000 and commenced trading in November\n2000 in order to commercialise research into vision-based human-machine\ninte...