Proactiveinvestors USA & Canada XTEK Ltd https://www.proactiveinvestors.com Proactiveinvestors USA & Canada XTEK Ltd RSS feed en Sun, 21 Jul 2019 18:21:06 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - XTEK signs second agreement with U.S. military ]]> https://www.proactiveinvestors.com/companies/news/179188/xtek-signs-second-agreement-with-us-military-179188.html XTEK (ASX:XTE) has signed an agreement with the U.S. Government’s Combating Terrorism Technical Support Office (CTTSO) to fabricate and test combat helmets and flat panels produced using XTEK’s XTclave™ technology.

Under the agreement, the U.S. Government CTTSO will cover the costs related to this 18-month project, which aims to create advanced, lightweight combat helmets.

The value of this agreement is US$644,000.

Philippe Odouard, managing director, commented: “The U.S. Government is the world leader in military technology, and for the second time they have committed funds to XTEK for research and testing, which demonstrates their interest in our XTclave and associated technology.

“We are confident that we will achieve a good result from the latest research initiative as we have proven on a number of occasions that XTclave is capable of producing composites with complex shapes and structures that are lighter and that can offer a higher level of protection.”


XTclave™ technology

XTclave™ is a trademarked technology that makes it possible to manufacture lighter, stronger and stiffer composite articles more efficiently.

This is the second time that the U.S. Government has provided funding for research on the company’s XTclave technology.

The first test program, which was announced in 2013, was undertaken under the U.S. Foreign Comparative Testing (FCT) program with the U.S. Army.

The FCT program was to test XTclave manufactured rigid armour inserts used in body armour.

This latest agreement confirms the U.S. military’s interest in XTEK’s patent protected technology, which can not only produce stronger and lighter ballistic-resistant composites but is also ideally suited to complex shaped geometries like helmets.


Background

XTEK is a leader in homeland security equipment for the military and police sectors.

The supply and maintenance of small unmanned aerial systems (SUAS) is becoming a major focus for XTEK.

In addition, XTEK has developed a range of new technologies which it is now commercialising for the international market.

XTclave™ composite protection products and XTatlas™ real-time geospatial video provide novel solutions for western military forces.


Proactive's CEO Sessions

Philippe Odouard, managing director for XTEK, is presenting at the Proactive's CEO Sessions.

Click on one of the cities below to attend and hear more on XTEK:

- Sydney: Wednesday, 14th June
- Melbourne: Thursday, 15th June

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Wed, 14 Jun 2017 11:00:00 -0400 https://www.proactiveinvestors.com/companies/news/179188/xtek-signs-second-agreement-with-us-military-179188.html
<![CDATA[News - XTEK Ltd's chairman increases stake on-market ]]> https://www.proactiveinvestors.com/companies/news/165540/xtek-ltds-chairman-increases-stake-on-market-70914.html XTEK Ltd's (ASX:XTE) chairman, Uwe Boettcher, has snapped up some more shares in the company through an on-market trade.

Boettcher purchased 30,000 shares at $0.295, to lift his total holding past 4.9 million.

XTEK recently outlined that it is poised to deliver a significantly stronger result in FY17, over the previous corresponding period, underpinned by orders in hand of $2 million.

At the end of August 2016, Boettcher commented:

"XTEK has a robust pipeline of contracts that should drive a big upswing in revenue from this financial year onwards and the company should see the benefits from our technology developments over the coming months.

"What’s more, the recent capital raise has bolstered our balance sheet.

"The capabilities of our board, with the appointment of Phillipe Odouard as a non-executive director, have been strengthened."

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 08 Sep 2016 10:30:00 -0400 https://www.proactiveinvestors.com/companies/news/165540/xtek-ltds-chairman-increases-stake-on-market-70914.html
<![CDATA[News - XTEK Ltd set for growing revenues in Financial Year 2017 ]]> https://www.proactiveinvestors.com/companies/news/165539/xtek-ltd-set-for-growing-revenues-in-financial-year-2017-70754.html XTEK Ltd (ASX:XTE) is poised to deliver a significantly stronger result in FY17, over the previous corresponding period, underpinned by orders in hand of $2 million.

The company expects to sign a number of new sales agreements in the coming months, including one for the support of existing Small Unmanned Aerial Systems (SUAS) used by the Australian Army.

XTEK is also diversifying its revenue and increasing margins through value adding and innovation.

Uwe Boettcher, chairman, commented:

"XTEK has a robust pipeline of contracts that should drive a big upswing in revenue from this financial year onwards and the company should see the benefits from our technology developments over the coming months.

"What’s more, the recent capital raise has bolstered our balance sheet.

"The capabilities of our board, with the appointment of Phillipe Odouard as a non-executive director, have been strengthened.

"His experience in negotiating complex contracts with global defence companies while he was the chief executive of Quickstep Holdings Limited will greatly assist XTEK in achieving its goal of becoming an exporter of its unique technology."


Australian Defence Force

XTEK was selected as the Preferred Tenderer in April 2016, for the Australian Defence Force Land 129 Phase 4 program, to supply and support a fleet of SUAS for the Australian Army.

Contract negotiations are underway and are expected to be finalised this financial year.

Although the value of the contracts will only be determined after further negotiations with Defence and after Government approval, they are expected to be worth many millions of dollars and will cover hardware sales and ongoing maintenance (through-life support) for the SUAS.

Maintenance contracts will provide recurring revenue.

Assuming the Land 129 Phase 4 contract is signed in the current financial year, revenue will significantly contribute to XTEK’s earnings from FY18 onwards.


Commercialisation

The company is expecting to provide an update before the end of the calendar year on the commercialisation efforts for its two key technology developments – XTatlasTM and XTclaveTM.

XTEK will demonstrate XTatlasTM to potential technology partners and customers, including the Australian Defence Force, over the coming months.

The Australian launch of XTatlasTM will take place 6-8 September at Land Forces 16, the major land forces conference in Australia.

This will be followed by a launch in Europe in September and the USA after that.

Final testing results under the US government-funded Foreign Comparative Testing (FCT) program for body armour created in the XTclaveTM plant will be provided to the US Department of Defense in Q2 FY17.

XTEK noted that it is pleased with the results to date.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 31 Aug 2016 10:00:00 -0400 https://www.proactiveinvestors.com/companies/news/165539/xtek-ltd-set-for-growing-revenues-in-financial-year-2017-70754.html
<![CDATA[News - XTEK Ltd completes share placement ]]> https://www.proactiveinvestors.com/companies/news/165538/xtek-ltd-completes-share-placement-70624.html XTEK Ltd (ASX:XTE) has now completed the share placement raising $750,000 through the issue of circa 2.3 million shares at $0.332.

Including funds from the recent share purchase plan, the company raised at total of $2 million.

Funds raised from the placement will be used to expand marketing, sales and contract support, for commercialisation of XTatlasTM technology, to continue development and commercialisation of XTclaveTM and to supplement working capital.

The technology geo-references live aerial video onto a digital map to deliver high definition video images in context to the map in real-time.


XTatlas™ further details

XTatlas™ introduces a disruptive game changer capability in the UAS market.

The technology includes an electro-optical aviation payload and associated ground station software that can geo-reference video from the payload onto a background map in the ground station in real time.

This delivers a high definition video image in context to a digital map in real-time and mosaic mapping in near real-time.


XTatlas™ commercialisation

Commercialisation has commenced, with global demand identified from UAS operators, defence and other government agencies, including police and emergency services.

Technology licences will be achieved initially through existing geospatial and UAS partner distribution networks in Europe and the U.S.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 23 Aug 2016 16:30:00 -0400 https://www.proactiveinvestors.com/companies/news/165538/xtek-ltd-completes-share-placement-70624.html
<![CDATA[News - XTEK Ltd attracts sophisticated and professional investors ]]> https://www.proactiveinvestors.com/companies/news/165537/xtek-ltd-attracts-sophisticated-and-professional-investors-70507.html XTEK Ltd (ASX:XTE) has completed a placement to sophisticated and professional investors raising $750,000.

Including funds from the recent share purchase plan, the company raised at total of $2 million, at $0.332 per share.

Funds raised from the placement will be used to expand marketing, sales and contract support, for commercialisation of XTatlasTM technology, to continue development and commercialisation of XTclaveTM and to supplement working capital.

The technology geo-references live aerial video onto a digital map to deliver high definition video images in context to the map in real-time.


XTatlas™ further details

XTatlas™ introduces a disruptive game changer capability in the UAS market.

The technology includes an electro-optical aviation payload and associated ground station software that can geo-reference video from the payload onto a background map in the ground station in real time.

This delivers a high definition video image in context to a digital map in real-time and mosaic mapping in near real-time.

Currently, drone / UAS video feeds are incapable of overlaying a video image in context to a map or of producing accurate mapping on the fly.

Therefore, UAS used by Defence and Government intelligence agencies are generally not optimised from a contextual awareness perspective.

The creation of accurate mapping and overlay images from video is usually a post flight process; and is difficult to generate without survey accurate ground control.

XTatlas™ solves this problem by considerably enhancing situational awareness, providing faster target acquisition and ultimately reducing operator fatigue.

It also creates fast, highly accurate Mosaic Mapping.


XTatlas™ commercialisation

Commercialisation has commenced, with global demand identified from UAS operators, defence and other government agencies, including police and emergency services.

Technology licences will be achieved initially through existing geospatial and UAS partner distribution networks in Europe and the U.S.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 17 Aug 2016 12:00:00 -0400 https://www.proactiveinvestors.com/companies/news/165537/xtek-ltd-attracts-sophisticated-and-professional-investors-70507.html
<![CDATA[News - XTEK Ltd to reveal raising ]]> https://www.proactiveinvestors.com/companies/news/165536/xtek-ltd-to-reveal-raising-70429.html XTEK Ltd (ASX:XTE) has been granted a trading halt by the ASX, pending details of a capital raising.

The halt will remain in place until the opening of trade on Wednesday 17th August 2016, or earlier if an announcement is made to the market.

XTEK has a unique focus on the Australian Homeland Security Market, with expertise in the delivery of protection and sustainment solutions for the government, law enforcement, military and commercial sectors.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Mon, 15 Aug 2016 11:30:00 -0400 https://www.proactiveinvestors.com/companies/news/165536/xtek-ltd-to-reveal-raising-70429.html
<![CDATA[News - XTEK Ltd appoints Philippe Odouard a non-executive director ]]> https://www.proactiveinvestors.com/companies/news/163556/xtek-ltd-appoints-philippe-odouard-a-non-executive-director-69926.html XTEK Ltd (ASX:XTE) has appointed Philippe Odouard as an non-executive director, commencing 1 August 2016.

Odouard has considerable executive management and board experience within the global aerospace and defence sectors.

He joins XTEK after leaving Quickstep Holdings Ltd (ASX:QHL), where he held appointments as the general manager, strategy & business development (aerospace & defence), executive director, chief executive officer and managing director.

During his time at Quickstep, he turned it from a technology start-up in advanced composite manufacturing to a profitable $50 million company involving large contracts with Lockheed Martin, Northrop Grumman and BAE Systems.

Uwe Boettcher, chairman, commented:

“I look forward to Philippe joining the XTEK Board and helping drive the change in emphasis of the company towards significantly increasing revenue and profit through robust commercialisation of XTEK innovations.”

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 20 Jul 2016 14:30:00 -0400 https://www.proactiveinvestors.com/companies/news/163556/xtek-ltd-appoints-philippe-odouard-a-non-executive-director-69926.html
<![CDATA[News - XTEK Ltd secures $2M of Australian Defence Force contracts ]]> https://www.proactiveinvestors.com/companies/news/163555/xtek-ltd-secures-2m-of-australian-defence-force-contracts-69798.html XTEK Ltd (ASX:XTE) has started the new financial year strongly after being awarded Australian Defence Force (ADF) purchase orders valued at $2 million.

The contracts cover the manufacture and supply of components and ancillary parts for a long range precision rifle used by the ADF.

Uwe Boettcher, chairman, commented: ““These orders demonstrate the commitment of XTEK and its suppliers to increasing Australian Industry Content to deliver world-class solutions to the ADF and other security forces in this country.

“The 2017 financial year is shaping to be a period of growth for our company and we are anticipating further contract wins in the coming months.”


Sales details

The Blaser (Blaser Jagdwaffen GmbH, Germany) Tactical 2 Long Range Weapon System is a long range precision rifle used by the ADF.

Under the contracts, XTEK will upgrade the existing fleet of weapons, supply additional weapon systems and provide spare parts for the total fleet of weapons.

These orders position XTEK as a leader in the design and manufacture of value added security and tactical components and systems for Australian Law Enforcement and Military Agencies.

XTEK has worked closely with the Australian Army and Blaser to modify, supply and support the XTEK enhanced Blaser Tactical 2 Long Range Weapon System providing a tailored product that services the unique needs of the Australian Army.

XTEK designs and manufactures a number of enhancements for the Blaser Tactical 2 Long Range Weapon System, including the chassis system, receiver, customised rails and mounts for specific accessory interfaces.

The Australian Industry Content is significant with over 200 weapon components per weapon system to be manufactured in South Australia.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 13 Jul 2016 13:00:00 -0400 https://www.proactiveinvestors.com/companies/news/163555/xtek-ltd-secures-2m-of-australian-defence-force-contracts-69798.html
<![CDATA[News - XTEK Ltd increases cash position, focus on XTatlas™ commercialisation ]]> https://www.proactiveinvestors.com/companies/news/163554/xtek-ltd-increases-cash-position-focus-on-xtatlas-commercialisation-69473.html XTEK Ltd (ASX:XTE) has now raised $1.25 million from an underwritten Share Purchase Plan (SPP) with a final discounted VWAP price of $0.332 per share.

SPP applications totalled $908,500, with Patersons Securities, the Underwriter, placing the shortfall of $341,500.

Funds raised from the SPP will be used to expand marketing, sales and contract support, and for commercialisation of XTatlas™ technology.

The technology geo-references live aerial video onto a digital map to deliver high definition video images in context to the map in real-time.

XTEK aims to license the technology with multiple Unmanned Aerial Systems (UAS) suppliers to integrate XTatlas™ into their systems and also build and sell XTEK XTatlas™ capable UAS.

The Company recently showcased the technology to the Global Supply Chain Forum that was held in Canberra this month.

The Global Supply Chain Forum, involving executives from several global defence prime contractors, will provide opportunities for the commercialisation of XTatlas™.


XTatlas™ further details

XTatlas™ introduces a disruptive game changer capability in the UAS market.

The technology includes an electro-optical aviation payload and associated ground station software that can geo-reference video from the payload onto a background map in the ground station in real time.

This delivers a high definition video image in context to a digital map in real-time and mosaic mapping in near real-time.

Currently, drone / UAS video feeds are incapable of overlaying a video image in context to a map or of producing accurate mapping on the fly.

Therefore, UAS used by Defence and Government intelligence agencies are generally not optimised from a contextual awareness perspective.

The creation of accurate mapping and overlay images from video is usually a post flight process; and is difficult to generate without survey accurate ground control.

XTatlas™ solves this problem by considerably enhancing situational awareness, providing faster target acquisition and ultimately reducing operator fatigue.

It also creates fast, highly accurate Mosaic Mapping.


XTatlas™ commercialisation

Commercialisation has commenced, with global demand identified from UAS operators, defence and other government agencies, including police and emergency services.

Technology licences will be achieved initially through existing geospatial and UAS partner distribution networks in Europe and the U.S.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 28 Jun 2016 10:00:00 -0400 https://www.proactiveinvestors.com/companies/news/163554/xtek-ltd-increases-cash-position-focus-on-xtatlas-commercialisation-69473.html
<![CDATA[News - XTEK Ltd's chairman Uwe Boettcher increases stake on-market ]]> https://www.proactiveinvestors.com/companies/news/163553/xtek-ltds-chairman-uwe-boettcher-increases-stake-on-market-69428.html XTEK Ltd's (ASX:XTE) chairman, Uwe Boettcher, has increased his stake in the company through an on-market purchase.

Boettcher purchased 25,000 shares at $0.385 per share, lifting his direct stake to circa 4.9 million.

XTEK has a unique focus on the Australian Homeland Security Market, with expertise in the delivery of protection and sustainment solutions for the government, law enforcement, military and commercial sectors.

XTEK aims to license the XTatlas™ technology with multiple Unmanned Aerial Systems (UAS) suppliers to integrate XTatlas™ into their systems and also build and sell XTEK XTatlas™ capable UAS.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 24 Jun 2016 14:30:00 -0400 https://www.proactiveinvestors.com/companies/news/163553/xtek-ltds-chairman-uwe-boettcher-increases-stake-on-market-69428.html
<![CDATA[News - XTEK Ltd showcases XTatlas™ technology to Global Supply Chain Forum ]]> https://www.proactiveinvestors.com/companies/news/163552/xtek-ltd-showcases-xtatlas-technology-to-global-supply-chain-forum-69259.html XTEK Ltd (ASX:XTE) has a unique focus on the Australian Homeland Security Market, with expertise in the delivery of protection and sustainment solutions for the government, law enforcement, military and commercial sectors.

Hosted by the Australian Capital Territory Government, the company showcased its proprietary technology XTatlas™ to the Global Supply Chain Forum that was held this week in Canberra.

The technology geo-references live aerial video onto a digital map to deliver high definition video images in context to the map in real-time.

XTEK aims to license the XTatlas™ technology with multiple Unmanned Aerial Systems (UAS) suppliers to integrate XTatlas™ into their systems and also build and sell XTEK XTatlas™ capable UAS.

The Global Supply Chain Forum, involving executives from several global defence prime contractors, will provide opportunities for the commercialisation of XTatlas™.


XTatlas™ further details

XTatlas™ introduces a disruptive game changer capability in the UAS market.

The technology includes an electro-optical aviation payload and associated ground station software that can geo-reference video from the payload onto a background map in the ground station in real time.

This delivers a high definition video image in context to a digital map in real-time and mosaic mapping in near real-time.

Currently, drone / UAS video feeds are incapable of overlaying a video image in context to a map or of producing accurate mapping on the fly.

Therefore, UAS used by Defence and Government intelligence agencies are generally not optimised from a contextual awareness perspective.

The creation of accurate mapping and overlay images from video is usually a post flight process; and is difficult to generate without survey accurate ground control.

XTatlas™ solves this problem by considerably enhancing situational awareness, providing faster target acquisition and ultimately reducing operator fatigue.

It also creates fast, highly accurate Mosaic Mapping.


XTatlas™ commercialisation

Commercialisation has commenced, with global demand identified from UAS operators, defence and other government agencies, including police and emergency services.

Technology licences will be achieved initially through existing geospatial and UAS partner distribution networks in Europe and the U.S.


XTEK company focus

XTEK designs, manufactures, sells and supports specialist equipment and machinery to help protect and sustain defence, police, security and other agencies.

The company operates three key divisions.

These include Agency Business; Logistics Engineering; and XTEK Innovations which was part of the showcase this week, as it encompasses the proprietary technology of XTatlas™, XTclaveTM.

The Agency business division underpins XTEK’s income through sales and lifetime support including repairs, maintenance, engineering upgrades and modifications.

This includes: Unmanned Aircraft Systems, Explosive Ordnance Disposal, Forensics, High Risk Security Solutions and Protective Security.

Logistics engineering provides recurring revenue from ongoing support including maintenance, repairs and engineering modifications for equipment supplied by Agency business.

XTEK designs and sells its own range of tactical weapon accessories.

XTatlas™ and XTclaveTM can be used to target major global markets.


Share purchase plan (SPP)

XTEK intends to raise $1.25 million through an underwritten SPP at a maximum issue price of $0.42.

The new securities will be offered at a 12.5% discount to the volume weighted average price (VWAP) over the 5 trading days prior to and including the closing date of the offer.

Patersons Securities is acting as lead manager to the offer and underwriter.

Eligible holders are able to purchase between $1,000 and $15,000 of new shares. The SPP is currently open until the 22nd June 2016.


Analysis

XTEK is leveraged to increasing defence spending, being an Australian Defence Force Recognised Supplier, an approved maintenance facility and a Member of the Defence Industry Security Panel.

Key management and staff have distinguished military and police backgrounds and experience in the Homeland Security market; ensuring expert sales advice, after-sales service, training, support and consultancy for our clients.

Recent tenders won include being the preferred tenderer for the supply of Small Unmanned Aerial Systems to the Australian Army (ADF Land 129 Phase 4) with initial revenues of up to $20 million expected.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 17 Jun 2016 09:00:00 -0400 https://www.proactiveinvestors.com/companies/news/163552/xtek-ltd-showcases-xtatlas-technology-to-global-supply-chain-forum-69259.html
<![CDATA[News - XTEK Ltd to open share purchase plan to promote growth ]]> https://www.proactiveinvestors.com/companies/news/163551/xtek-ltd-to-open-share-purchase-plan-to-promote-growth-69010.html XTEK Ltd (ASX:XTE) will open its underwritten share purchase plan tomorrow to raise up to $1.25 million to support recent growth initiatives.

These include being named recently as the preferred tenderer to supply Unmanned Aircraft Systems (UAS) to the Australian Defence Force (ADF).

Initial revenues of up to $20 million are expected from the UAS tender.

Funding will also be used to commercialise development activities such as XTEK's XTatlasTM aerial video mapping technology.

XTEK has multiple potential company-making catalysts in the next nine months.


Background

XTEK is a leader in homeland security equipment for military, police and commercial sectors.

XTEK designs, manufactures, sells and supports specialist equipment and machinery to help protect and sustain defence, police, security and other agencies. 

XTEK operates three key divisions:
- Agency Business
- Logistics Engineering
- XTEK Innovations (proprietary technology: XTatlasTM, XTclaveTM)


Share purchase plan (SPP)

XTEK intends to raise $1.25 million through an underwritten SPP at a maximum issue price of $0.42.

The new securities will be offered at a 12.5% discount to the volume weighted average price (VWAP) over the 5 trading days prior to and including the closing date of the offer.

Patersons Securities is acting as lead manager to the offer and underwriter.

Eligible holders are able to purchase between $1,000 and $15,000 of new shares.

The SPP opens on 3 June, 2016 and closes on 22 June, 2016.


Upcoming milestones

XTEK anticipates the following milestones:
Q1 FY17 - Complete US Department of Defense foreign comparative testing project for XTclaveTM.
Q1 FY17 - Initial Support contract signed for ADF LAND 129 Phase 4.
Q1 FY17 - Australian and European launch of XTatlasTM contextual mapping system.
Q3 FY17 - Acquisition contract signed for ADF LAND129 Phase 4.
Q3 FY17 - Acquisition contract signed for supply of tactical bomb response, forensics
and unmanned ground vehicle equipment to a government client.
Q3 FY17 - Phase 2 of XTatlasTM complete.
Q4 FY17 - Build new commercial scale XTclaveTM manufacturing plant.
Q4 FY17 - Secure sales of XTEK Blaser Tac2 sniper rifle components to ADF.
Q4 FY18 - Initial supply of UAS to ADF.
Q1 FY19 - Follow on supply of UAS to ADF.


Analysis

XTEK has won a number of significant tenders to help continue the company's growth.

The Agency business division underpins XTEK’s income through lifetime support including repairs, maintenance, engineering upgrades and modifications.

XTEK owns and develops proprietary technologies in XTatlasTM and XTclaveTM which is can use to target major global markets.
 
The company has a number of upcoming share price catalysts over the coming nine months.

XTEK is also set to benefit from increased government spending on defence.

The 2016 Defence White Paper noted an unprecedented investment in Australia’s defence capability of approximately $195 billion over ten years.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 03 Jun 2016 09:00:00 -0400 https://www.proactiveinvestors.com/companies/news/163551/xtek-ltd-to-open-share-purchase-plan-to-promote-growth-69010.html
<![CDATA[News - XTEK Ltd to raise A$1.25M in underwritten Share Purchase Plan ]]> https://www.proactiveinvestors.com/companies/news/163550/xtek-ltd-to-raise-a125m-in-underwritten-share-purchase-plan-68908.html XTEK Limited (ASX:XTE) has outlined an underwritten Share Purchase Plan (SPP) to raise $1.25 million to support the company’s ongoing growth.

XTEK is focussed on the Australian Homeland Security Market.

The new securities will be offered at a 12.5% discount to the volume weighted average price (VWAP) over the 5 trading days prior to and including the closing date of the offer.

The issue price will be subject to a maximum price of $0.42 per security.

Patersons Securities is acting as lead manager to the offer and underwriter.


SPP structure and details

XTEK said that the pricing structure for the SPP has been determined having regard both to recent volatility in the company’s share price and longer term share price levels.

Eligible holders are able to purchase between $1,000 and $15,000 of new shares.


Key dates

- Opening Date: 3 June 2016 SPP opens, offer document is dispatched.
- Closing Date: 22 June 2016 SPP closes at 5.00pm (Sydney time) on this date.
- Allotment Date: 29 June 2016 new securities are allotted and issued.
- Dispatch Date: 30 June 2016 holding statements dispatched to security holders.
- Quotation Date: 30 June 2016 date when new securities are traded on the ASX.


Use of funds

- Agency business: Expansion of marketing, sales and contract support, focused predominately on Unmanned Aircraft Systems (UAS), following the recent success in being named as the preferred tenderer to supply UAS to the Australian Defence Force under Land 129 Phase 4 Program;

- Commercialisation of XTatlasTM technology: Investment to commercialise XTEK’s proprietary aerial contextual video mapping technology. This is a prerequisite for the sale of sub-systems and software to a global market; and

- Working capital: Provide working capital required to grow the company’s business, repay short term loans and meet its ongoing financial obligations.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 30 May 2016 12:00:00 -0400 https://www.proactiveinvestors.com/companies/news/163550/xtek-ltd-to-raise-a125m-in-underwritten-share-purchase-plan-68908.html
<![CDATA[News - Xtek Ltd given additional time to finalise raising ]]> https://www.proactiveinvestors.com/companies/news/163549/xtek-ltd-given-additional-time-to-finalise-raising-68869.html Xtek Ltd (ASX:XTE) is currently preparing details of a capital raising, that is proposed to be underwritten.

The ASX has granted a voluntary suspension following a trading halt to allow the company to prepare.

Earlier in the week Xtek advised that it had terminated the Equity Placement Facility Agreement entered into with Kentgrove Capital Pty Ltd on 14 July 2015.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 27 May 2016 09:30:00 -0400 https://www.proactiveinvestors.com/companies/news/163549/xtek-ltd-given-additional-time-to-finalise-raising-68869.html
<![CDATA[News - XTEK Ltd terminates equity placement facility ]]> https://www.proactiveinvestors.com/companies/news/163548/xtek-ltd-terminates-equity-placement-facility-68836.html XTEK Ltd (ASX:XTE) has advised that the company has terminated the Equity Placement Facility Agreement entered into with Kentgrove Capital Pty Ltd on 14 July 2015, effective as of 26 May 2016.

The termination decision reflects the company’s desire to pursue other avenues of capital raising in the future.

XTEK shares are currently in a trading halt, pending details of a capital raising, that is proposed to be underwritten.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 26 May 2016 11:30:00 -0400 https://www.proactiveinvestors.com/companies/news/163548/xtek-ltd-terminates-equity-placement-facility-68836.html
<![CDATA[News - XTEK Ltd to reveal capital raising details ]]> https://www.proactiveinvestors.com/companies/news/163547/xtek-ltd-to-reveal-capital-raising-details-68804.html XTEK Ltd (ASX:XTE) has been granted a trading halt by the ASX, with its shares placed in pre-open.

The company requested the halt pending details of a capital raising, that is proposed to be underwritten.

The halt will remain in place until the opening of trade on Friday 27th May 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 25 May 2016 11:30:00 -0400 https://www.proactiveinvestors.com/companies/news/163547/xtek-ltd-to-reveal-capital-raising-details-68804.html
<![CDATA[News - XTEK Ltd selected as preferred tenderer for Small Unmanned Aerial Systems ]]> https://www.proactiveinvestors.com/companies/news/163546/xtek-ltd-selected-as-preferred-tenderer-for-small-unmanned-aerial-systems-68319.html XTEK Limited (ASX:XTE) is focussed on in the Australian Homeland Security Market.

XTEK has said that the Department of Defence has informed the company that the evaluation of tenders received in response to the Supply and Support of Small Unmanned Aerial Systems has been completed.

XTEK Limited has been selected as the Preferred Tenderer.

The procurement remains conditional on the project achieving government approval at second pass and successful contract negotiations.

The company added that Commercial in Confidence contract negotiations involving a reduction in the scope of the initial supply are expected to commence shortly.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 28 Apr 2016 10:00:00 -0400 https://www.proactiveinvestors.com/companies/news/163546/xtek-ltd-selected-as-preferred-tenderer-for-small-unmanned-aerial-systems-68319.html
<![CDATA[News - Xtek Ltd seeks commercial certificate for unmanned aircraft systems ]]> https://www.proactiveinvestors.com/companies/news/163545/xtek-ltd-seeks-commercial-certificate-for-unmanned-aircraft-systems-67412.html Australia's only publicly listed Homeland Security Company; Xtek Ltd has achieved a milestone by submitting an application to the Civil Aviation Safety Authority (CASA), to commercially operate both the Swift Radio Planes “Lynx M” and AeroVironment Inc. “Qube” Unmanned Aircraft Systems (UAS).

This is a significant enabler for Xtek’s commercial UAS business.

Obtaining a UAV Operator’s Certificate from CASA will allow Xtek to provide UAS services utilising Qube, Lynx M and its XTatlas™ contextual video and mapping technology.


Background on Lynx M and Qube

The Lynx M is a long endurance, small unmanned aircraft system designed for professional photomapping and research.

Lynx's design makes takeoff and landing possible from unimproved and difficult terrain. Once airborne, the aircraft flies autonomously while capturing high resolution images.

While the Qube is a small unmanned aircraft system suited to meet the needs of first responders. The packaged system fits in the trunk of a car and can be assembled and ready for flight in less than 5 minutes to provide an eye in the sky.

The vertical takeoff and landing aircraft has an unmatched 40 minutes flight endurance and hover quietly holding position and altitude.

Qube's ground control station has a tablet computer interface and by clicking on the touchscreen map directs the Qube where to go. High quality, live video is displayed on the screen with critical information provided to users.

The opportunity for Xtek in the commercial UAS markets is a significant one, a multi-million dollar market opportunity over the period 2016-2020.


Major advances

In February 2016, the company submitted responses to the Australian Army tenders for Land 129 Phase 4 - the acquisition and through life support tenders for 78 Small Unmanned Aircraft Systems.

Through life support includes training, repair and spares support post acquisition. Subject to selection, Government funding approval and successful contract negotiation, contracts for these tenders are scheduled to commence in FY17.

Xtek has also been selected as the preferred tenderer for the supply of tactical/bomb response equipment to a Government client.

Contracts, potentially over $1 million, from these acquisitions are expected in FY17, subject to Government funding approval and successful contract negotiation.


Differentiators

Xtek has two cutting-edge innovations with large and global addressable markets: the XTclave™ patented process to create advanced ballistic protection laminates and lightweight structural composites.

The second is the XTatlas™ with unique contextual real-time mapping solution currently under development.


Price catalysts ahead

There are two potential company-making milestones in next six months:

- Commercialization of XTatlas™ and validation of XTclave™ technology by US Department of Defence

- Both the XTatlas™ and XTclave™ have significant global applications.

FY15 was an Inflection Point for Xtek with improving revenue and profitability. Revenue for FY15 was $12 million, compared to $5.3 million in FY14 and with no debt.

There is significant potential for future UAS sales in Australia.

With the milestones ahead, we would expect a stock re-rating over next six months from the current price of $0.43.

 

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 09 Mar 2016 10:45:00 -0500 https://www.proactiveinvestors.com/companies/news/163545/xtek-ltd-seeks-commercial-certificate-for-unmanned-aircraft-systems-67412.html
<![CDATA[News - XTEK Limited submits responses to Australian Army tenders ]]> https://www.proactiveinvestors.com/companies/news/163544/xtek-limited-submits-responses-to-australian-army-tenders-66983.html XTEK Limited (ASX:XTE) has submitted responses to the Australian Army tenders for Land 129 Phase 4 - the acquisition and through life support tenders for 78 Small Unmanned Aircraft Systems.

Through life support includes training, repair and spares support post acquisition.

Subject to selection, Government funding approval and successful contract negotiation, contracts for these tenders are scheduled to commence in FY17.

XTEK has also been selected as the preferred tenderer for the supply of tactical/bomb response equipment to a Government client.

Contracts, potentially over $1 million, from these acquisitions are expected in FY17, subject to Government funding approval and successful contract negotiation.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 11 Feb 2016 17:00:00 -0500 https://www.proactiveinvestors.com/companies/news/163544/xtek-limited-submits-responses-to-australian-army-tenders-66983.html
<![CDATA[Media files - XTEK Limited's chairman Uwe Boettcher talks to Proactive Investors TV ]]> https://www.proactiveinvestors.com/companies/stocktube/5919/xtek-limiteds-chairman-uwe-boettcher-talks-to-proactive-investors-tv-573.html Wed, 10 Feb 2016 09:58:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/5919/xtek-limiteds-chairman-uwe-boettcher-talks-to-proactive-investors-tv-573.html <![CDATA[News - XTEK talks homeland security at Proactive's Spotlight CEO Sessions ]]> https://www.proactiveinvestors.com/companies/news/163543/xtek-talks-homeland-security-at-proactives-spotlight-ceo-sessions-66882.html XTEK Limited's (ASX:XTE) chairman, Uwe Boettcher, joined Proactive's Spotlight CEO Sessions roadshow this week in Sydney and Melbourne.

The company provides defence and homeland security equipment, and entered 2016 on the heels of a bomb disposal robot sale that represents a first-of-its-kind transaction in the Australian market.

XTEK has two cutting-edge innovations with large and global addressable markets, being:

- XTclave™: A patented process to create advanced ballistic protection laminates and lightweight structural composites; and

- XTatlas™: A unique contextual real-time mapping solution currently under development.

Looking ahead, XTEK is working towards two company-making milestones in next six months.

This includes commercialisation of XTatlas™ and the validation of the XTclave™ technology by U.S. Department of Defense.


ACCESS the FULL PRESENTATION HERE

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Fri, 05 Feb 2016 09:30:00 -0500 https://www.proactiveinvestors.com/companies/news/163543/xtek-talks-homeland-security-at-proactives-spotlight-ceo-sessions-66882.html
<![CDATA[News - XTEK’s Uwe Boettcher on security tech at Proactive's Spotlight CEO Sessions ]]> https://www.proactiveinvestors.com/companies/news/163542/xteks-uwe-boettcher-on-security-tech-at-proactives-spotlight-ceo-sessions-66557.html Defence and homeland security equipment provider XTEK (ASX:XTE) enters 2016 on the heels of a bomb disposal robot sale that represents a first-of-its-kind transaction in the Australian market for a piece of equipment that is a leader in its class.

The sale of ICOR Technology’s Caliber Mk 4 EOD robot in Australia typifies the high-tech and international nature of XTEK’s business model, which focuses on importing high-quality security, military, search, chemical, biological, radiological and nuclear detection, decontamination, forensic, diagnostic and screening equipment for sale to governments and law enforcement agencies.

The company has recently diversified even further with a deal to acquire Simmersion Holdings, a company specialising in 3D modelling and simulation technology for urban planning.


MEET Chairman Uwe Boettcher at Proactive's Spotlight CEO Sessions in Sydney and Melbourne in February 2016

Sydney Investor Luncheon, Tuesday, 2nd February.

Melbourne Investor Luncheon, Wednesday, 3rd February.



By taking control of Simmersion, XTEK has increased shareholder value through greater exposure to a 3D imaging market expected to be worth US$16.6 billion by 2020.

This effort will coincide with a broader market momentum that appears set to further fuel the company’s growth in the foreseeable future.

With the global market for body armour and personal protection estimated to grow from US$1.5 billion in 2012 to $2.4 billion by 2022, the sector’s global cumulative spend between 2017 and 2022 is estimated to total $12.9 billion.

U.S. armour demand accounts for approximately 50% of this market, making it the largest market in the world for high-quality body armour plates and other armour requirements.

Commercialisation of the company’s proprietary XTclave lightweight armour technology in the U.S. is expected to develop through a joint venture, royalty-based licensing or one-off application based licensing.


Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 14 Jan 2016 15:43:00 -0500 https://www.proactiveinvestors.com/companies/news/163542/xteks-uwe-boettcher-on-security-tech-at-proactives-spotlight-ceo-sessions-66557.html
<![CDATA[News - XTEK reveals sale of bomb disposal robot ]]> https://www.proactiveinvestors.com/companies/news/163541/xtek-reveals-sale-of-bomb-disposal-robot-66235.html XTEK Limited (ASX:XTE) has announced the delivery of an ICOR Caliber® Mk 4 EOD robot for an Australian law enforcement agency.

The Caliber® Mk 4 EOD robot, made in Canada by ICOR Technology, is one of the most advanced bomb disposal robots available in the world today.

This is the first sale of this latest technology robot in Australia.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 18 Dec 2015 16:30:00 -0500 https://www.proactiveinvestors.com/companies/news/163541/xtek-reveals-sale-of-bomb-disposal-robot-66235.html
<![CDATA[News - XTEK draws down funds under placement facility ]]> https://www.proactiveinvestors.com/companies/news/163540/xtek-draws-down-funds-under-placement-facility-65836.html Homeland security provider XTEK (ASX:XTE) has drawn down $250,000 under a $10 million funding facility struck with Kentgrove Capital in July 2015. 

At XTEK's behest, it can determine whether or not it will request a subscription from Kentgrove Capital, and the placement amount between $100,000 and $500,000.

With today's draw down, 561,798 new securities were issued to Kentgrove at $0.445 per share. Each placement of shares are issued at a 5% discount to a Volume Weighted Average Price of XTEK shares over a set period.

Funds raised will be used toward commercialising XTEK’s proprietary XTclaveTM technology which is used in lightweight armour applications including personal ballistic protection plates and UAS solutions.

The global body armour and personal protection market was worth $1.5 billion in 2012 and Strategic Defence Intelligence has forecast this to increase at a CAGR of 4.89% during the forecast period, to reach its peak of $2.4bn by 2022.

The U.S. market for personal ballistic protection plates between 2017- 2022 could be worth up to $2.2 billion.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 26 Nov 2015 15:00:00 -0500 https://www.proactiveinvestors.com/companies/news/163540/xtek-draws-down-funds-under-placement-facility-65836.html
<![CDATA[News - XTEK expands trajectory of growth with 3D tech acquisition ]]> https://www.proactiveinvestors.com/companies/news/163539/xtek-expands-trajectory-of-growth-with-3d-tech-acquisition-65798.html Defence and homeland security equipment provider XTEK (ASX:XTE) has further diversified its business with a deal to acquire a company specialising in 3D modelling and simulation technology for urban planning.

XTEK will acquire Simmersion Holdings via an agreement to issue 175,000 XTEK shares on a pro-rata basis based on the number of shares each existing Simmersion shareholder holds in the capital of Simmersion.

In completing the acquisition process, XTEK has agreed to issue 175,000 new securities in the capital of the company.

Simmersion will then operate as a wholly owned subsidiary of XTEK.

XTEK plans to continue the service support provided to existing Simmersion clients and potentially align its Unmanned Aircraft System (UAS) business to provide data services for Simmersion in the future.


About Simmersion

Simmersion real-time 3D simulation solutions for urban planning are used globally by city municipalities and property developers to visualise future developments as part of the assessment process and for property marketing.

Over a period of three years, the company has developed a patented groundbreaking and innovative 3D technology called Mycosm, which will bring the richness and power of the world’s best video game engines to the application and solution developer markets at an affordable price.

This unique, real-time 3D visualisation and simulation platform is targeted at the entertainment, decision support, training and e-learning sectors.

The company’s Simurban platform, meanwhile, represents a suite of 3D simulation software products to create, view and interact with accurate and realistic models of any built environment.

Simurban is used for property development assessment, strategic planning and design.

Simmersion has an extensive 3D data set covering parts of most of the capital cities in Australia, which is used in Simurban software by a number of local governments and a few property developers to visualize urban planning scenarios.


Analysis

By taking control of Simmersion, XTEK has increased shareholder value through greater exposure to a 3D imaging market expected to be worth US$16.6 billion by 2020.

This move also provides XTEK with an additional potential partner for its UAS business, which currently brings in annual sales of $7.9 million via equipment distribution services throughout the Oceania region.

Customer demand for specialist UAS solutions and services is expected to increase throughout FY2016 and beyond.

Shares in XTEK have gained 29% in the past two months to A$0.49 as the company has returned to a net profit for the first time in six years, generating $12 million in FY15 revenue on momentum related to UAS and growing markets for protective equipment such as body armour.

With the global market for body armour and personal protection estimated to grow from US$1.5 billion in 2012 to $2.4 billion by 2022, the sector’s global cumulative spend between 2017 and 2022 is estimated to total $12.9 billion.

XTEK’s significant exposure to this market includes its proprietary XTclave technology, which is used in lightweight armour applications, including personal ballistic protection plates.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 25 Nov 2015 09:31:00 -0500 https://www.proactiveinvestors.com/companies/news/163539/xtek-expands-trajectory-of-growth-with-3d-tech-acquisition-65798.html
<![CDATA[News - XTEK marks financial turnaround as armour markets boom ]]> https://www.proactiveinvestors.com/companies/news/163538/xtek-marks-financial-turnaround-as-armour-markets-boom-64889.html Defence and homeland security provider XTEK Limited (ASX:XTE) returns to a net profit position for the first time in six years as a large medium-term opportunity in protective equipment marketing comes into focus.

XTEK has recently published its FY2015 financials, tracking a 126% year-on-year hike in annual revenue to A$12.04 million and a net profit of $231,000, versus FY2014’s net loss of $223,000.

These headline metrics, however, are only a symptom of a steadier underlying trajectory of growth and investor support, most recently manifested in a $10 million equity placement facility from Kentgrove Capital Tech Fund.

The investment earlier this year set up XTEK funding over a 36-month period for the rollout of the company’s proprietary XTclave technology, which is used in lightweight armour applications, including personal ballistic protection plates.

Expansion efforts for XTclave and the recent firming of XTEK’s bottom line have coincided with a broader market momentum that appears set to further fuel the company’s growth in the foreseeable future.

With the global market for body armour and personal protection estimated to grow from US$1.5 billion in 2012 to $2.4 billion by 2022, the sector’s global cumulative spend between 2017 and 2022 is estimated to total $12.9 billion.

U.S. armour demand accounts for approximately 50% of this market, making it the largest market in the world for high-quality body armour plates and other armour requirements.

XTEK has so far responded with an aim to complete its U.S. Department of Defence Foreign Comparative Training (FCT) armour development and testing work for the U.S. Army in November.

This will progress as the company continues to explore commercial relationships with U.S.-based companies that want to use the XTclave process to manufacture in the U.S. and senior management actively engages with stakeholders in the exploitation of these opportunities.

Commercialisation of XTclave in the U.S. is expected to develop through a joint venture, royalty-based licensing or one-off application based licensing.


Specialised manufacturing technology

XTclave composite consolidation technology (also known as Hydroclave) employs the programmable cycling of significant isostatic pressure and temperature on the article being manufactured. This takes place within a processing chamber with circulating liquid medium that transfers heat extremely efficiently.

This process is ideally suited to the manufacture of high-quality, void-free, precision structural carbon fibre composite components for the aerospace and aviation industries.  XTclave also uses a novel composite armour manufacturing process that uses an unprecedented magnitude of isostatic pressure to provide enhanced ballistic protection and production efficiency.

The XTclave armour manufacturing process is applicable to a wide range of lightweight armour products including vehicle protection. XTEK was awarded a U.S. government FCT contract for up to $1.5 million in 2013 for the development of advanced lightweight hard armour plate solutions using XTclave.

XTEK is continuing to investigate further XTclave product research and development opportunities across the global composites market. The company is already supplying XTclave-manufactured components for the Blaser Tactical 2 Long Range Weapon System and working on other solutions for specific applications in the aerospace and defence markets. Other cutting-edge composite solutions for the military and commercial sectors are also being explored.


Beyond XTclave

As Australia's only publicly listed homeland security company, XTEK is a market leader in the provision of security equipment, security consulting and security training and related services.

The company is engaged in importing high-quality security, bomb disposal, search, chemical, biological, radiological and nuclear detection, decontamination, forensic, diagnostic and screening equipment for sale to government agencies, law enforcement agencies and the armed forces.

In addition to also providing specialist weapons and ammunition for counterterrorist activities, the company has development and engineering facilities to promote new technology and products for sale worldwide in product ranges such as ballistic protection, blast simulators, ammunition and weapon ancillaries.

XTEK also maintains sophisticated repair, maintenance, production and warehousing facilities in Canberra and Sydney which enable in-house equipment support.

Products supplied by the company target not only defence and security organisations but commercial sectors as well.

A range of unmanned aerial vehicle products may be deployed in environmental monitoring, agriculture, surveying and geological industries. The company’s suite of mining-related technology supplies (including explosives, portable x-rays and remote vehicles) are provided to the resources, engineering and training sectors.

XTEK’s forensic products sales division, meanwhile, has been supplying Australasian police and laboratory clients with high-quality instruments and products for more than 15 years.

The company currently offers a wide range of equipment for crime scene examination and recovery, forensic document examination, latent fingerprint examination and fingerprint processing, forensic biology, trace evidence analysis, disaster victim identification and laboratory information management systems.


Analysis

The return to a net profit this year underlines recent momentum in a number of XTEK’s targeted sectors for commercial growth, especially the unmanned aircraft systems (UAS) market, where annual sales totalled $7.9 million.

Looking ahead, XTEK has received purchase orders to the value of $1.77m on hand in the first quarter of FY16.

Customer demand for specialist UAS solutions and services is expected to increase throughout FY2016 and beyond.

XTEK recently demonstrated the potential of its emerging commercial opportunities by stimulating interest from a range of potential clients with early-stage development of a digital imagery technology. This platform allows for the display of a real-time video feed as a moving georeferenced image over a digital map.

The commercialisation of the digital imagery technology has the potential to start generating revenue in financial year 2016.

The $10 million investment from Kentgrove provides the company a means of commercialising this technology as well as engaging potential partners in the U.S., where major dominant defence and security markets are projected to grow even further.

XTEK is now profitable and with an equity facility available, merger and acquisition opportunities beckon that would add further shareholder value.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 02 Oct 2015 11:15:00 -0400 https://www.proactiveinvestors.com/companies/news/163538/xtek-marks-financial-turnaround-as-armour-markets-boom-64889.html
<![CDATA[News - XTEK Limited bags $10M equity placement facility to fund growth ]]> https://www.proactiveinvestors.com/companies/news/163537/xtek-limited-bags-10m-equity-placement-facility-to-fund-growth-63473.html Defence and Homeland Security provider XTEK Limited (ASX:XTE) has secured a $10 million equity placement facility from Kentgrove Capital GrowthTech Fund to drive its next phase of growth.

Under the Agreement, Kentgrove Capital may provide XTEK with up to $10 million of equity capital via placements over the next 36 months, in a series of individual placements of not less than $100,000 and not more than $500,000.

Proceeds will be used to fund the rollout of XTEK’s proprietary XTclave technology which is used in lightweight armour applications including personal ballistic protection plates.

The company will also continue to develop other products for defence and commercial applications.

Strategic Defence Intelligence has estimated that the global body armour and personal protection market was worth US$1.5 billion in 2012 and will have compound annual growth rate of 4.89% to a peak of US$2.4 billion by 2022.

North America is the leading spender in the body armour and personal protection sector and accounts for 50% of the global market.

XTEK could have an opportunity to be a key supplier of personal ballistic protection plates that need to be replaced or issued to U.S. defence, police, and security agencies between 2017- 2022.

Under the facility, shares in each new placement will be issued at a 5% discount to a VWAP over the period of the placement but not less than the minimum price of $0.25.

The company has also issued 250,000 shares and 500,000 options ($0.45 exercise price, 3 year term) to Kentgrove Capital as an upfront establishment fee.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 15 Jul 2015 14:36:00 -0400 https://www.proactiveinvestors.com/companies/news/163537/xtek-limited-bags-10m-equity-placement-facility-to-fund-growth-63473.html
<![CDATA[News - XTEK Limited receives $1.175M order from Australian Defence Force ]]> https://www.proactiveinvestors.com/companies/news/163536/xtek-limited-receives-1175m-order-from-australian-defence-force-51058.html XTEK Limited (ASX: XTE) has received purchase orders worth $1.175 million for the supply of specialist XTEK-developed weapon ancillary components to the Australian Defence Force.

These specific orders are for the supply of XTEK-designed and manufactured folding chassis units for rifles and ammunition magazine assemblies

The company has also secured separate weapon ancillary purchase orders worth $850,000 over recent weeks for non XTEK-manufactured components.

XTEK designs, develops and markets its own range of specialist weapon ancillary parts for use by Defence and Law Enforcement agencies.

It is also developing advanced lightweight hard armour plate solutions under a US$1.5 million (A$1.64 million) contract from the U.S. Department of Defense.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 11 Dec 2013 12:00:00 -0500 https://www.proactiveinvestors.com/companies/news/163536/xtek-limited-receives-1175m-order-from-australian-defence-force-51058.html