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XTEK gains a new substantial holder in HighCom Global Security

XTEK recently signed an exclusive contract with the Australian Defence Force to provide a range of supply and service support activities for drones.

Xtek Ltd - XTEK gains a new substantial holder in HighCom Global Security
To date, AusTender has issued four contract notices under this contract

XTEK Ltd (ASX:XTE) has a new substantial holder in Florida-based HighCom Global Security Inc (OTCMKTS:HCGS) with a 7.59% stake.

HighCom became a substantial shareholder on September 30, 2019 via the purchase of 4 million shares at 72 cents each for a total consideration of $2.88 million.

ADF contract

XTEK recently signed an exclusive contract with the Australian Defence Force to provide a range of supply and service support activities for small unmanned aerial systems, or drones.

The Australian technology company was awarded the long-term contract which entails providing spare parts, repair, maintenance and support services for the ADF’s growing SUAS fleet.

To date, AusTender has issued four contract notices under this contract with the largest and most recent commitment amounting to $10.07 million.

Quick facts: XTEK Ltd

Price: 0.6 AUD

ASX:XTE
Market: ASX
Market Cap: $31.9 m
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