Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
New leadership to drive Seeing Machines
Seeing Machines (SEE:AIM) 4.38p
Gain to date: 21%
Original entry point: Buy at 3.62p, 21 July 2016
Board room changes at Seeing Machines (SEE:AIM) hint at the increasing opportunities for the company.
Mike McAuliffe has been appointed the new chief executive officer of the driver monitoring system technology specialist.
He had been running the company’s automotive business Fovio since September 2016 and was instrumental in developing Seeing Machines’ strategy in this area.
A major car manufacturer has already signed up to install Seeing Machines’ platform in some luxury cars due for launch this year.
Former boss Ken Kroeger moves to an executive chairman role. That suggests he will remain hands-on with driving the development of new market opportunities, perhaps where his industry insight and expertise is best put to work. These include fleet trucks, rail, planes and more.
This is a company potentially on the cusp of transformation in terms of mass market adoption of its technology.
FinnCap believes the shares could go as high as 12p, implying more than 170% upside from the current level. We remain positive on the investment case. (SF)