Xtek Ltd - XTEK September Quarter Business Update
Xtek Ltd (ASX:XTE)

XTEK September Quarter Business Update

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Highlights

What's happened?

XTEK Limited (ASX:XTE "XTEK") has provided a business update for the quarter ended 30 September 2020.

What are the highlights for the quarter?

  1. Completed delivery of the first lot of XTclave manufactured plates to CPE Production OY in Finland and completed full delivery of plates to Tote Systems Australia.
  2. Received a new testing contract to validate the performance of hard armour plates from the US Department of Defense.
  3. Leveraged its actionable intelligence XTatlas software as part of the C4 EDGE funded Program, to demonstrate an integrated Australian industry capability in front line combat management to the Australian army.
  4. Received further orders for SUAS supply and spare parts from the ADF.
  5. Strong financial position following successful completion of an oversubscribed capital raising.

For further information, please click the link below.

Managing Director's Summary

Philippe Odouard

"We are pleased with delivering a strong quarter of growth for the Company, in which we achieved several important milestones. Our ballistic commercialisation is progressing well, with the first XTclave deliveries now complete. These milestones illustrate the demand for our state-of-the-art technology and capabilities; and represents external validation of our product quality. We look forward to accelerating our international ballistics commercialisation strategy, underpinned by the recent oversubscribed capital raising. In addition, we continue to engage with potential customers and strategic parties to further commercialise our unique actionable intelligence solutions, which are continuing to gain significant traction, momentum and market interest.”

Philippe Odouard
Managing Director, Xtek Ltd
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