Voluntary Escrow of Founder's Shares
Voluntary Escrow of Founder's Shares
Sydney, June 22, 2018 AEST (ABN Newswire) - DroneShield Ltd (ASX:DRO) (OTCMKTS:DRSHF) ("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

Based in Sydney, Australia and Virginia, USA, DroneShield Ltd (ASX:DRO) (OTCMKTS:DRSHF) is a worldwide leader in drone security technology. The Company has developed pre-eminent drone security solutions that protect people, organisations and critical infrastructure from intrusion from drones. Its leadership brings world-class expertise in engineering and physics, combined with deep experience in defence, intelligence, and aerospace.

     


Contact

Oleg Vornik
CEO and Managing Director
Email: oleg.vornik@droneshield.com
Tel: +61-2-9995-7280



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