DroneShield shares jump on $5.2m European contract announcement
Make us a preferred source
Make us a preferred source on Google
The news: DroneShield has announced a $5.2 million follow-on contract for a European military end-customer, which will receive handheld counterdrone systems and associated accessories.
The numbers: At 10:05am AEDT, shares in DroneShield had lifted 10.9% to $1.94. They were also up 158% in the year to date.
DroneShield has now signed 12 contracts worth a total of $70 million with this European reseller.
The context: For the latest contract, the products are already in stock and will be delivered in the fourth quarter of this calendar year for a cash payment without any further material conditions.
The company previously announced that its contract announcement threshold will increase from $5 million to $20 million in 2026, unless there are other reasons for announcing a smaller order.
This update was contained in an incorrect contract announcement on 10 November, which was later withdrawn. The incorrect announcement occurred during a period in which three DroneShield directors, including CEO Oleg Vornik were selling their entire shareholdings following the vesting of performance shares.
The source: ASX
