PDMR/PCA Dealing
Lombard Odier sold 159.7m shares at 4.09p to Mitsubishi Electric Mobility, reducing stake to 9.87%.
- Shares sold 159,652,749
- Price per share 4.09 pence
- Lombard's remaining stake 9.87%
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Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the "Company"), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, was notified on 31 December 2024 that Lombard Odier Asset Management (Europe) Limited ("Lombard"), an entity closely associated with the Company's Non-Executive Director, Michael Brown, acting in its capacity as discretionary investment manager for the account and on behalf of funds or accounts managed by it and/or as agent of Lombard Odier Asset Management (USA) Corp, acting as discretionary investment manager for the account and on behalf of funds or accounts managed by them on 24 December sold 159,652,749 ordinary shares of Seeing Machine at 4.09 pence per share.
Following this transaction Lombard holds 485,230,164 ordinary shares, representing 9.87% of the Company's issued share capital.
Paul McGlone, CEO of Seeing Machines, commented:
"As detailed in the announcement on 23 December, Mitsubishi Electric Mobility has purchased the abovementioned shares from Lombard Odier as part of their desire to achieve 19.9% ownership in the Company, in accordance with the Australian Corporations Act. Accessing a portion of shares from our largest longstanding shareholder assisted in this process and demonstrates Lombard's recognition of the significance of the agreement entered into by Seeing Machines and Mitsubishi. We are grateful to Lombard Odier for their support in effecting this milestone transaction and I look forward to continuing to work with Michael Brown, who remains on our board as a non-executive director, and our enlarged shareholder base to deliver significant value".
The below notification, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on the transaction.
Details of the person discharging managerial responsibilities/person closely associated
- Name: Lombard Odier Asset Management (Europe) Limited
Reason for the notification
- Position/Status: A person closely associated with the Company's Non-Executive Director, Michael Brown
- Initial notification/Amendment: Initial notification
- Name: Seeing Machines Limited
- LEI: 549300LNJJPZ2SU7A197
- Description of the financial instrument, type of Identification Code Ordinary shares of nil par value ISIN: AU0000XINAJ0
- Nature of the transaction: Sale of Ordinary Shares
- Price(s) and volume(s): Price(s) Volume(s) 4.09 Pence 159,652,749
- Aggregated information: · Aggregated volume · Price N/A - single transaction
- Date of the transaction: 24 December 2024
- Place of the transaction: London Stock Exchange
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.