LONDON - Seeing Machines Limited (AIM: SEE), an advanced computer vision technology company specializing in AI-powered operator monitoring systems for transport safety, disclosed a significant share transaction involving an entity associated with a company director. On December 24, Lombard Odier Asset Management (Europe) Limited, linked to Non-Executive Director Michael Brown, sold 159,652,749 ordinary shares of Seeing Machines at a price of 4.09 pence each.
Post-transaction, Lombard maintains a stake of 485,230,164 ordinary shares, equating to 9.87% of Seeing Machines' issued share capital. This sale is part of a broader agreement where Mitsubishi Electric (OTC:MIELY) Mobility aims to acquire a 19.9% ownership stake in Seeing Machines, as per the Australian Corporations Act.
Seeing Machines CEO Paul McGlone expressed gratitude to Lombard for their role in this key transaction and acknowledged the continued involvement of Michael Brown as a non-executive director on the board. The company views this development as a milestone that aligns with its strategic goals and values the support from Lombard and its shareholders in realizing this objective.
This news comes on the heels of the December 23 announcement detailing Mitsubishi Electric Mobility's share purchase. The transaction is seen as a significant step for Seeing Machines as it continues to expand its shareholder base and strengthen its market position in the transport safety sector.
The information provided in this report is based on a press release statement by Seeing Machines Limited.
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