Business
Result of GM, Offer and Total Voting Rights
Result of GM, Offer and Total Voting Rights.
About this update from Seeing Machines Limited
[{"type":"text","content":"\n \nRNS Number : 7720W Seeing Machines Limited 23 April 2019 \n\n23 April 2019\nSeeing Machines Limited\n \nResult of General Meeting, Offer and Total Voting Rights\n \nResult of General Meeting\n \nSeeing Machines Limited (AIM: SEE, \"Seeing Machines\" or the \"Group\"), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, is pleased to report that, further to the announcements on 20 and 22 March 2019 relating to the conditional Placing and Subscriptions to raise gross proceeds of £27.77 million (approximately AUD51.3 million), all resolutions put to shareholders at the General Meeting held earlier today were duly passed. \n \nResult of Offer\n \nIn addition, Seeing Machines is pleased to announce that valid acceptance have been received in respect of, and the Company will issue, 126,794,082 new Ordinary Shares (the \"Offer Shares\") at a price of 3 pence per Offer Share pursuant to the Offer, resulting in gross proceeds received under the Offer of £3.8 million (approximately AUD6.9 million). \n \nAccordingly, pursuant to the Placing, Subscriptions and Offer, the Company has raised gross proceeds of £31.57 million. The Placing, Subscriptions and Offer remain conditional on admission of the Placing Shares and Subscription Shares becoming effective at 8.00 a.m. on 24 April 2019 (\"Admission\").\n \nTotal Voting Rights\n \nApplication has been made for a total of 1,052,402,416 Ordinary Shares to be admitted to trading on 24 April 2019. With effect from Admission, the total issued share capital of the Group will be 3,365,214,334 Ordinary Shares with no Ordinary Shares held in treasury. Therefore, the total number of voting rights in the Group will be 3,365,214,334 and this figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in Seeing Machines.\n \nKen Kroeger, CEO of Seeing Machines, said:\n \n\"We are very pleased with the continued support of our shareholders. The automotive and fleet sectors are increasingly recognising the risks posed by driver inattention and fatigue in single vehicles as well as across commercial and passenger transport. \n \n\"Our i...