Droneshield announces 367% lift in profit, mandatory exec share policy
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The news: Counter-drone technology company DroneShield has reported a 367% surge in full-year statutory profit to $3.5 million.
The numbers: Revenue rose 276% year on year to $216.5 million, as the company’s sales pipeline increased 92% to $2.3 billion, or 300 opportunities.
The context: DroneShield also announced a new trading policy and disclosure policy following the launch of a governance review in November. The review was prompted after a controversial selldown of shares by chief executive Oleg Vornik and two other board members triggered a severe selloff late last year.
DroneShield’s board has now established a mandatory minimum shareholding policy for all directors and senior executives. The CEO will be expected to hold ordinary shares equivalent to 200% of their annual salary, and each director will be expected to hold ordinary shares in the company equivalent to their annual base fee.
