Changes to Board of Directors

RNS Number : 6111X

Seeing Machines Limited

15 January 2014

 



Seeing Machines Limited

("Seeing Machines" or the "Company")

Changes to Board of Directors

Seeing Machines Limited (AIM: SEE), the AIM-listed technology company with a focus on computer vision based operator monitoring and intervention technology and services, announces the following changes to its Board of Directors, all to take effect on 15 January 2014.

After serving on the Board of Seeing Machines Limited for over 13 years, Dr Alex Zelinsky will retire from his position as a Non-executive Director. Dr Zelinsky is the current Chief Defence Scientist of the Commonwealth of Australia and is the Chief Executive of Australia's Defence Science and Technology Organisation. Due to the increasingly high demands of these roles, Alex has advised the Company that he has decided it is appropriate to focus his energies on his current full-time roles. Dr Zelinsky was one of the founders of Seeing Machines and is recognised widely for his leading expertise in computer vision technologies.

The Company is pleased to announce that Dr Rudolph Edward (Rudy) Burger, 55, will join the Board as a Non-executive Director. Over the past twenty-five years, he has founded five digital media technology companies in the US, run a European public company, and served as a senior executive for two global 500 companies. He is widely recognised as an effective, dynamic leader with a proven track record in management, strategic planning, business development, and M&A. Dr Burger is currently Founder and Managing Partner of Woodside Capital Partners, an investment bank headquartered in Palo Alto, California. He also serves as a Board Member of Bango PLC (AIM: BGO) and served as a Board Member of ServicePower Technologies Plc (AIM: SVR) until 2012. Rudy has a BSc and MSc from Yale University and a PhD from Cambridge University. 

The Company is also pleased to announce the appointment of James David Walker, 44, to the Board as CFO. James joined the Company as Chief Financial Officer in June 2013. His contributions since then have been substantial, not the least of which is his leading role, with the CEO, in successfully driving and concluding the Company's recent Placing. James is a fellow of the Institute of Chartered Accountants in Australia.

Terry Winters, Chairman of Seeing Machines, commented: "The Board warmly acknowledges Dr Zelinsky's contribution to the Company over many years and wishes him continued success in his roles with the Department of Defence. We welcome Dr Burger and look forward to the commercial and technical contributions he will bring as a result of his tremendous experience and insights. The promotion of James Walker to the Board reflects the strong contributions he has made so far in his role as CFO. I am pleased we have a strong Board in place to take the Company forward."

The following disclosures are required regarding Rudy Burger's appointment pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:

Current directorships and partnerships:

Woodside Capital Partners International LLC

Woodside Capital Securities LLC

Woodside Capital Partners, Inc.

Woodside Capital Partners (UK) LTD

Bango PLC (AIM: BGO)

Past directorships and partnerships held over the last 5 years:

ServicePower Technologies Plc (AIM: SVR)

Dr Burger served on the board of Scipher Plc which was placed into administrative receivership on 21 September 2004.

Rudy Burger has no shareholding in the Company.

The following disclosures are required regarding James Walker's appointment pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:

Current directorships and partnerships:

Kirri Cove Pty Limited

Past directorships and partnerships held over the last 5 years:

Fluorotechnics Limited (ASX: FLS)

Gelcompany Inc.

Gelcompany GmbH.

Gelcompany GmbH, a former subsidiary of Fluorotechnics Limited, the board of which James left in December 2010, was placed into voluntary administration in October 2011.

James Walker, CFO, holds 320,000 ordinary shares in the Company ("Ordinary Shares") through his investment vehicle Kirri Cove Pty Limited and is interested in 2,073,019 Ordinary Shares relating to the Company's long term incentive plan ("LTIP Shares") which he will be entitled to subject to certain conditions being met. James holds the voting rights to the LTIP Shares. Including the LTIP Shares, James has a total beneficial interest in 2,393,019 Ordinary Shares representing approximately 0.3% of the total voting rights in the Company.

No further disclosure is required under AIM Rule 17 and paragraph (g) to Schedule Two of the AIM Rules with respect to Rudy Burger or James Walker.

Enquiries:

Seeing Machines Limited	www.seeingmachines.com
Terry Winters, Chairman Ken Kroeger, Managing Director and CEO	[phone] [e-mail] [phone] [e-mail]
James Walker, CFO	[phone] [e-mail]
finnCap Ltd
Ed Frisby / Ben Thompson, Corporate Finance	[phone]
Simon Starr, Corporate Broking
Newgate Threadneedle, Investment Communications for Seeing Machines
Graham Herring	Tel: [phone] Mob: [phone] [e-mail]
Robyn McConnachie	Tel: [phone] Mob: [phone] [e-mail]

About Seeing Machines

Seeing Machines, (AIM: SEE), is an AIM-listed technology company that specialises in operator monitoring and intervention technologies and services. Its software and engineering services are used in products and applications that range from devices that improve driver safety and save lives to assessing trainees in simulators and simplifying the relationships between people and technology. Seeing Machines technology is used worldwide across the automotive, mining, transport and aviation industries; as well as many of the leading academic research groups and transportation authorities. Seeing Machines is headquartered in Australia and has offices in Tucson, Arizona and San Francisco, California. The company counts Caterpillar, BHP Billiton, Freeport McMoran, MIT, Boeing and General Motors amongst its customers.

 

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