DroneShield announced it has received a stand-alone contract for $6.2 million from an in-country reseller for delivery to a military end-customer in an Asia-Pacific country. The reseller is a wholly-owned subsidiary of a multi-billion dollar, global, publicly listed customer that is contractually required to distribute solutions to a major Asia Pacific military government department. The solutions include selected 3rd party hardware, interoperable with DroneShield’s command-and-control software platform, DroneSentry-C2. DroneShield expects to complete the delivery and receive payment in 2026.
Meanwhile, the company announced it will create a mandatory minimum shareholding policy for all directors and senior managers after a series of divestments from the firm’s top leadership sparked investor backlash. The Australian defense company will require directors to hold stock equivalent to their annual base fee within three years, while the chief executive officer must retain a stake that’s worth 200% of their salary within 12 months, according to an exchange filing Monday. DroneShield is also updating its trading and disclosure policy, and will appoint an additional independent non-executive director.
Rapid share sales from CEO Oleg Vornik and other executives in November drew widespread criticism and raised questions about management’s commitment to the firm, sending the stock spiraling. The selloff came amid mounting concerns from larger investors over DroneShield’s valuation and share price rally, which had mostly been driven by retail traders.
The company said in a statement filed to the ASX: “The Board will establish a mandatory minimum shareholding policy (MSP) for all directors and members of senior management. Under the MSP, each director will be expected to hold ordinary shares in the Company equivalent in value to their annual base fee within 3 years from the establishment of the MSP, and the CEO will be expected to hold ordinary shares in the Company equivalent in value to 200% of their annual salary within 12 months from the establishment of the MSP.
“DroneShield will also update its Securities Trading Policy and Continuous Disclosure Policy to align them with market practice and expectations of an ASX200 company. The market will be notified once these Policies have been updated. The Board is initiating a search for a suitable candidate to be appointed as an additional independent non-executive director with ASX200 experience in the next 12 months. The market will be updated once an appointment is made. Review of remuneration structures The Board is also undertaking a review of the director and executive remuneration framework, supported by PayIQ Executive Pay.
“The review will focus on aligning the Company’s remuneration arrangements with the expectations for an ASX200 company and the dynamic industry in which the Company operates. It is intended that an update on this review will be provided in the Company’s next Remuneration Report published in February 2026. Process improvements The Company is continuing work announced previously to enhance the verification processes undertaken in respect of ASX announcements, and these processes have been reviewed by the Company’s independent auditors. Following the conclusion of the ERP implementation in January 2026, an appropriately qualified external adviser will undertake a broader review of the Company’s financial reporting processes and internal controls.”
For Editorial Inquiries Contact:
Editor Kym Bergmann at kym.bergmann@venturamedia.net
For Advertising Inquiries Contact:
Group Sales Director Simon Hadfield at simon.hadfield@venturamedia.net
