Seeing Machines Limited Statement regarding Press Speculation (2368H)
March 09 2018 - 2:52AM
UK Regulatory
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 Ken.Kroeger@seeingmachines.com
& Interim CEO Sophie.Nicoll@seeingmachines.com
Media inquiries
finnCap Ltd (Nominated Adviser
and Joint Broker) +44 20 7220 0500
Ed Frisby / Emily Watts, Corporate
Finance
Tim Redfern / Richard Chambers,
Corporate Broking
Canaccord Genuity Limited (Joint
Broker) +44 20 7523 8000
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
END
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