2017 Chairman's Address to AGM
Sydney, April 26, 2017 AEST (ABN Newswire) - DroneShield Ltd (
ASX:DRO) (DRSHF:OTCMKTS) is pleased to provide the Company's 2017 Chairman's Address to AGM.
The 2016 financial year has seen a significant growth of the business and the public listing in June 2016. The IPO shareholders have enjoyed approximately a 100% appreciation in the value of their shareholdings (including the value of their attached options). This value appreciation reflects a number of factors, including early sales to large customers, demonstrated potential for large sales, the rapidly growing size of the counterdrone market, product development, team build out, and the macro environment for the industry.
The need for DroneShield products continues to grow quickly, with almost daily incidents globally across all verticals that we cover - military, prisons, law enforcement, airports, events, critical infrastructure and VIP security.
DroneShield is well positioned to take full advantage of this opportunity. It has been shipping product to paying customers since the beginning of the industry in early 2014, a premium well-recognised industry name, and has intellectual property patents and trademarks to support its position. Its acoustics detection technology is unique globally, offering a number of advantages over other detection methods. Since launch, its DroneGun portable rifle drone jammer has received very substantial global publicity by both the media and customers, with paid early deployments including by the Swiss Police at the World Economic Forum in Davos this year.
The company has achieved its stated objective at the time of the IPO to ramp up its sales and engineering teams, which are now largely in place across Australia and US, working seamlessly.
The company has no debt, and a balance sheet of approximately $3.1m as at end of last month. I am confident of continued improvements in the Group's financial results with a strong sales pipeline and new and improved products due for release, supported by significant industry tailwinds. We enter 2017 with a confident outlook.
To view the full release, please visit:
http://abnnewswire.net/lnk/L9AU9I6P
To view the presentation for AGM, please visit:
http://abnnewswire.net/lnk/1BPCBA01
About DroneShield Ltd
DroneShield Ltd (ASX:DRO) (OTCMKTS:DRSHF) is an Australian publicly listed company with its head office in Sydney and teams in the US and UK. We specialise in RF sensing, Artificial Intelligence and Machine Learning, Sensor Fusion, Electronic Warfare, Rapid Prototyping and MIL-SPEC manufacturing.
Our capabilities are used to protect Military, Government, Law Enforcement, Critical Infrastructure, Commercial and VIPs throughout the world.
Through our team of primarily Australian based engineers - we offer customers bespoke solutions and off-the-shelf products designed to suit a variety of terrestrial, maritime or airborne platforms.
DroneShield is proudly exporting Australian capability to customers throughout the world and supporting Australia's defence, national security and other organisations protect people, critical infrastructure and vital assets.
.
| ||
|
