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Seeing Machines ( (GB:SEE) ) has provided an update.
Seeing Machines announced a significant transaction involving the sale of 159,652,749 ordinary shares by Lombard Odier Asset Management, a key shareholder associated with the company’s Non-Executive Director, Michael Brown. These shares were acquired by Mitsubishi Electric Mobility to increase their stake in Seeing Machines to 19.9%, in line with the Australian Corporations Act. This transaction highlights the strategic significance of the partnership between Seeing Machines and Mitsubishi, and demonstrates Lombard’s support in facilitating this milestone. The deal is expected to enhance Seeing Machines’ shareholder base and contribute to its continued growth and value creation.
More about Seeing Machines
Seeing Machines, headquartered in Australia and founded in 2000, is a global leader in vision-based monitoring technology. The company specializes in AI-powered operator monitoring systems aimed at enhancing transport safety. Its technology is utilized across various sectors including automotive, commercial fleet, off-road, and aviation. Seeing Machines operates internationally with offices in Australia, USA, Europe, and Asia.
YTD Price Performance: -12.96%
Average Trading Volume: 10,538,957
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £230M
Learn more about SEE stock on TipRanks’ Stock Analysis page.
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