Seeing Machines Limited Board Changes (1496R)

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RNS Number : 1496R

Seeing Machines Limited

25 October 2023

Seeing Machines Limited

25 October 2023

Board Changes

Seeing Machines appoints new Non-Executive Director

Yong Kang Ng steps down as Non-Executive Director

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, is pleased to announce that it has appointed Stephane Vedie as a non-executive director and to the Seeing Machines board, effective immediately.

Stephane Vedie is a seasoned CEO with a track record of growth and significant expertise in M&A. He has 25 years experience in the automotive industry, working for global corporations in Europe and North America, and is currently the CEO of LUXIT Group based in Michigan USA, a global lighting supplier to the automotive industry. Prior to LUXIT Group, Mr Vedie was CEO of Magneti Marelli (now Marelli) and prior to that, CEO for global company Varroc Lighting Systems (now Plastic Omnium Lighting). He is currently a non-executive director of CLM Search Ltd in London.

Stephane holds a Master's degree in Purchasing Management (DESS/MBA) from Grenoble University (1997) and a Master's degree in Business from the Graduate Business School of Amiens in France (1996). He will become a member of the Risk, Audit and Finance Committee upon appointment

Additionally, Yong Kang (YK) Ng, non-executive director of the Seeing Machines board since 2016, and a member of the Risk, Audit & Finance Committee, has advised his intention not to stand for re-election at the Company's Annual General Meeting in November this year.

Kate Hill, Chair of Seeing Machines commented: "On behalf of my colleagues, I'm delighted to welcome Stephane to the Seeing Machines board where his considerable automotive industry pedigree will be invaluable as we continue to grow our OEM and Aftermarket businesses globally. Stephane has an excellent mix of leadership, corporate and industry experience that will bolster our team and help us navigate the next, exciting phase for the Company, in support of Paul and his management team.

I'd also like to take this opporutnity to thank YK Ng for his contribution to the Company over the past seven years, and in particular to call out the assistance he has provided through his expertise in product manufacturing. He has been a pleasure to work with and we all wish him well in his future endeavours."

Enquiries:

 
 Seeing Machines Limited                         +61 2 6103 4700 
 Paul McGlone - CEO 
  Sophie Nicoll - Corporate Communications 
 
 Stifel Nicolaus Europe Limited (Nominated 
  Adviser and Broker) 
  Alex Price                                    +44 20 7710 7600 
 Fred Walsh 
  Nick Adams 
  Ben Burnett 
 
   Dentons Global Advisors (Media Enquiries) 
   James Styles 
   Jonathon Brill 
   Methuselah Tanyanyiwa 
   seeingmachines@dentonsglobaladvisors.com     +44 20 7664 5095

In relation to the appointment of Mr Vedie, the Company confirms that there is no further information to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules for Companies save as disclosed below:

 
 Full Name:                              Stephane Hervé Vedie 
 
 Age:                                    49 
 
 Current Directorships / Partnerships:   LUXIT Group 
                                          Varroc TYC 
                                          CLM Search 
                                          SHV Advisory LLC 
 Directorships / Partnerships            Varroc Lighting Systems 
  in last 5 years :

About Seeing Machines (AIM: SEE), a global company founded in 2000 and headquartered in Australia, is an industry leader in vision-based monitoring technology that enable machines to see, understand and assist people. Seeing Machines is revolutionizing global transport safety. Its technology portfolio of AI algorithms, embedded processing and optics, power products that need to deliver reliable real-time understanding of vehicle operators. The technology spans the critical measurement of where a driver is looking, through to classification of their cognitive state as it applies to accident risk. Reliable "driver state" measurement is the end-goal of Driver Monitoring Systems (DMS) technology. Seeing Machines develops DMS technology to drive safety for Automotive, Commercial Fleet, Off-road and Aviation. The company has offices in Australia, USA, Europe and Asia, and supplies technology solutions and services to industry leaders in each market vertical.

www.seeingmachines.com

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October 25, 2023 02:00 ET (06:00 GMT)

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