Voluntary Escrow of Founder's Shares
Sydney, June 22, 2018 AEST (ABN Newswire) - DroneShield Ltd (
ASX:DRO) (DRSHF:OTCMKTS) ("DroneShield" or the "Company") is pleased to announce entry into a one-year voluntary restriction deed in relation to 14,438,334 fully paid ordinary shares (as well as 2,227,500 Class A Performance Shares, 2,227,500 Class B Performance Shares and 2,227,500 Class C Performance Shares) of the Company held by Mr. John Franklin, a founder of the Company, effective today.
The entry into the voluntary restriction deed confirms Mr. Franklin's previously-stated wish to remain a long-term shareholder of the Company, and not to divest his investment.
The Company has a relevant interest in all of the ordinary and performance shares referenced above because the Company effectively controls the exercise of the power to dispose of the securities, even though the Company cannot exercise any voting power in relation to the ordinary shares and has no ownership interest in the ordinary shares or performance shares. An initial substantial shareholder notice in respect of the Company's relevant interest in the ordinary shares is attached along with a copy of the executed voluntary restriction deed.
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.
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