Australian-based Seeing Machines this morning announced that it had signed a five year deal with the UK bus-maker Guardian to deploy its technology into passenger transport vehicles. The move comes ahead of new EU safety rules which will mandate technology such as that supplied by Seeing Machines be installed across all buses and coaches. Current plans from the company also include rolling out the OEM deal to other manufacturers, with a total potential market of up to 4000 vehicles a year. The Seeing Machines share price traded as much as 10% higher shortly after the open before giving back some of those gains.
The AIM listed Brazilian focused natural resource development company issued an update this morning advising that they had sold down the investment in Blencowe Resources to focus cash on the company’s new gold strategy. The move, combined with a funding round in August, means the company is well capitalised to progress with the Paranaita resource where significant deposits are believed to lie. The Jangada share price was up 15% by 8.30am.
AIM listed cybersecurity company Smarttech247 issued a year end trading update today along with news that it planned to delist from public markets. Full year revenues are expected to come in ahead of guidance although some margin weakness is observed. The forward sales pipeline continues to improve but with management stating that the current system significantly undervalues the business, the big line here is the proposed exit from public markets. The Smarttech247 share price was down 61% in early trade.
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