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DroneShield (ASX:DRO) - CEO & Managing Director, Oleg Vornik - The Market Herald
CEO & Managing Director, Oleg Vornik
Source: Information Age
  • DroneShield (DRO) has requested back-to-back trading halts regarding an upcoming capital raising
  • The company's shares will remain in the halt until August 7 or when the announcement is made, whichever occurs first
  • Throughout July, the drone detection company secured two contracts, one with the U.S. Air Force and one with the European Ministry of Defence
  • Additionally, DroneShield ended the June quarter with a record cash inflow of $2.1 million, while operational cash burn totalled $50,000
  • Shares in DroneShield last traded for 15 cents on July 31

DroneShield (DRO) has requested back-to-back trading halts regarding an upcoming capital raising.

The company's shares will remain in the halt until August 7 or when the announcement is made, whichever occurs first.

DroneShield has had a busy July, securing its first contract from the U.S. Air Force, one from the European Ministry of Defence, and successfully completing a European airport trial for DroneSentinel.

Additionally, DroneShield ended the June quarter with a record cash inflow of $2.1 million, while operational cash burn totalled $50,000, compared to the almost $1.8 million in the March quarter.

DroneShield last entered a trading halt in July 2019 in regards to a $9.55 million placement.

A few days later, the company launched its drone detection product, RfZero, which allows drones to be detected in real-time in a one-kilometre radius.

Shares in DroneShield last traded for 15 cents on July 31.


Find out more about this capital raise


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