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09-10-2023, 01:09 PM
#181
name change
Highlights
• Proposed name change from XTEK Limited to HighCom Limited
• Shareholders to vote on name change at AGM on 23 November 23 Monday, 9 October 2023:
XTEK Limited (ASX: XTE, ‘XTEK’, ‘Group’) provides the following market update with respect to a proposed name change to HighCom Limited.Following the significant changes and growth of the business over the last two years, the Group now proposesto take the next step in the evolution of the business and will seek shareholder approval at the upcoming Annual General Meeting on 23 November 2023, to change the name from XTEK Limited to HighCom Limited andamend the Company Constitution accordingly. The Group expects the new ASX ticker code will be HCL.
The Board believe that this name change is an important and necessary step. It will better reflect the long-termvalue creation potential for shareholders now being generated by the Group’s “HighCom” ballistic armour brand, through its increasingly successful commercial business operations with Military, Law Enforcement Agencies, and Government customers, in the US and around the world.
Accordingly, the Board believes that by aligning the ASX listed parent company name with the US andInternational subsidiary names it best positions and unifies the Group for its next exciting stage of growth and global expansion.
The Group intends to retain the current two operating divisional structure, with the Technology Division being simply called “HighCom Technology” moving forward and focus its efforts on the sales and maintenance support services of Small Uncrewed Arial Systems (SUAS).
The Technology Division business continues to be an important revenue generating part of the Group’s overall operations, especially after having just signed a 10-year, potential $110m+ Support Contract with the Australian Department of Defence, and the Group will continue to maintain this small, dynamic, and highly capable team collocated with its corporate headquarters in Canberra, ACT.
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10-10-2023, 10:11 AM
#182
Interesting proposition. Don't really see the point myself, unless to get away from 'history' and a rebrand and name change part of that. Certainly trying to divorce itself from its terrible long-term share performance.....
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10-10-2023, 10:49 AM
#183
 Originally Posted by Sideshow Bob
Interesting proposition. Don't really see the point myself, unless to get away from 'history' and a rebrand and name change part of that. Certainly trying to divorce itself from its terrible long-term share performance.....
Many moons ago I worked for a company that had licensed a well known brand name for one of it's products which the German Army wanted. It took a long time to get the official purchase order because their system had us in it as 'brand name' and not the actual company I worked for meaning long delays. Long story short - never underestimate the stupidity of army procurement.
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10-10-2023, 04:03 PM
#184
very good gains continuing... up 6% so far today. Ive said it before- a very good chance we get into a nice uptrend here supported by the usual Highcom contract announcements and it being highly likely that Regal have finished selling so nothing to hold the SP back.
Recent conflict in the middle east potentially adds further demand. I read Israel could be mobilising 100,000 troops!! Thats a lot of armored vests..
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12-10-2023, 01:24 PM
#185
Last edited by percy; 12-10-2023 at 01:26 PM.
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12-10-2023, 02:01 PM
#186
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12-10-2023, 03:23 PM
#187
in the update they say they are negotiating multiple similar sized orders and some large ones which if comes in would wipe out their current inventory. At half year they had $25m and have sold about $5m ish so thats another $20m at least
all looking very good with market cap sitting on $40m
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13-10-2023, 09:49 PM
#188
Sell side thinning out.. Regal gone and all the weak hands with them.
Each new order announcement is going to be more fuel for the fire under the SP. momentum is a wonderful thing
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16-10-2023, 11:26 AM
#189
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16-10-2023, 11:32 AM
#190
Looks as if it's ready to pop.
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