Business
CES Las Vegas and Result of Offers
CES Las Vegas and Result of Offers.
About this update from Seeing Machines Limited
[{"type":"text","content":"\n \nRNS Number : 1267C Seeing Machines Limited 14 January 2015 \n\nSeeing Machines Limited\n(\"Seeing Machines\" or the \"Company\")\n \nResults of Australian and Overseas Offers\n \nDemonstration of next generation driver system at\n Consumer Electronics Show (CES) in Las Vegas\n \n· Offers raise £570,600, to supplement £5.7 million raised in December 2014 placing.\n· Next generation driver monitoring system demonstrated with Jaguar at CES in Las Vegas.\n \n \n14 January 2015\n \nResults of Australian Offer and Overseas Offer\n \nSeeing Machines Limited (AIM: SEE), the AIM listed technology company with a focus on operator monitoring and intervention sensing technologies and services, announces that, further to its announcement on 4 December 2014, it has finalised the Australian and Overseas Offers (the \"Offer\") and raised £570,600 (approximately $1.05 million) through the issue of 10,378,188 new Ordinary Shares (the \"Offer Shares\") at a price of 5.5 pence (or 10 Australian cents) per Ordinary Share to eligible Seeing Machines Shareholders and Depositary Interest holders. The Offer follows an earlier successful raising of £5.7 million from new and existing institutional investors, as announced on 4 December 2014.\n \nThe net proceeds of the Offer will provide the Company with working capital and further flexibility to pursue its six-sector business strategy, in particular to accelerate its engagement with a growing list of global car makers as well as launching a new product for the commercial transport market. \n \nDemonstration at Consumer Electronics Show\n \nAt the International Consumer Electronics Show (CES), held last week in Las Vegas, Seeing Machines demonstrated its next-generation driver monitoring system (DMS) in a modified Jaguar F-TYPE on the Intel stand. The prototype DMS was jointly developed with Takata and Jaguar Land Rover. The DMS uses attention-monitoring sensors to detect eye and facial movements so it can identify if the driver has become inattentive, either due to drowsiness or distraction. The interactive demonstration of the Company's technology at CES generated extremely positive responses from the automotive and silicon industries as well as the broader...