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XTE, XTEK LIMITED
nipper
post Posted: Sep 26 2019, 08:49 AM
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Question: Is the Entity aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities?
QUOTE
Answer: Yes, the Company is aware of such information, that relates to an Australian Government Contract (Defence). To date, XTEK had been unable to release specific and price sensitive details on this contract without prior Defence approval.

However, on the 25th September 2019, XTEK became aware that this information had been released by Defence through Aus Tender, unfortunately without theknowledge of either the Defence Minister or XTEK.. The Company has been awarded a long-term and exclusive contract (HSD/CON/8054/1) to provide spare parts, repair, maintenance and support services for the ADF’s growing SUAS fleet.

To date AusTender has issued the following Contract Notices under this Contract:
 Contract Notice No 3626505 – Contract Value $28,213.46
 Contract Notice No 3628788 – Contract Value $30,551.09
 Contract Notice No 3623915 – Contract Value $550,000.00
 Contract Notice No 3629757 – Contract Value $10,072,700.00

Question 2 If the answer to Question 1 is Yes
QUOTE
Answer: Given the confidential and sensitive nature of information contained within the contract and after being directed by the Australian Defence Force not to make any such public disclosure on the Contract award until it had been disclosed firstly by the Defence Minister, XTEK became reliant on the provisions of LR 3.1A.1 to not make any market announcements.

Someone acted. ....70c



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Aug 25 2019, 09:45 AM
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QUOTE
Canberra-domiciled Xtek (XTE, 56c) has been trying to crack a US defence contract for its super strength armour plates and helmets capable of stopping a whizzing bullet from an AK-47. The protective devices deploy Xtek’s patented carbon composite autoclaving method, XTclave, which produces lighter and stronger gear.

In an initial foray, the Marines bought $800,000 of helmets – moulded with high-pressure oil – for a look-see. “The US military has been testing our military for some time but we couldn’t get into it without a partner,” says Xtek CEO Philippe Odouard. “We looked at opening factories and other solutions there, but they were all expensive.”

Xtek looks to have solved the problem by acquiring a private Ohio-based company called Highcom Armor Solutions, which makes standard ballistics protection gear. The transaction entailed $1.8m cash, with the vendors agreeing to take 4m Xtek shares.

Not to waste the occasion, Xtek raised $3.5m in a share placement and share purchase plan, at 45c a share. With the stock up 11c or 56c over the past week on no apparent news, subscribers are well ahead.

Odouard says the merger is a snug one because Highcom provides the factory and the network to distribute Xtek’s premium products, which won’t cannibalise Highcom’s standard offerings.

Xtek and Highcom are targeting not just the military, but the country’s police forces that deploy 800,000 cops. The special operations are of particular interest, because these agents wear vests and helmets all day and require lighter protection.

Xtek holds the local rights to sell drones on behalf of Aero Environment, the world’s biggest drone maker.

Locally, Xtek is heartened by Canberra’s decision to splurge $3 billion over the next two decades on high-tech equipment for the special forces, including small unmanned aerial systems (drones), weapons and communications systems.

“We have been following this program for a while and it plays into our state of the art high-performance product line for the soldier,” Odouard says. “We believe it will be positive in helping our growth. It is great news that the government has reemphasised the priority of such a program.”

Xtek already has a $100m order from the Department of Defence to supply and maintain a drone fleet.

But Xtek’s true potential lies in opening the market for its ballistics gear and that means getting past the local military gatekeepers.

Xtek recently guided to 2018-19 revenue of $30-35m, mainly derived from the drones business. Highcom bodes well for future group profits, having generated ebitda of $1.4m in calendar 2018, on revenue of $10.5m.

Separately, Xtek has signed a “joint statement of strategic intent” with the Australian Space Agency, by which the agency leverages Xtek’s composite materials know-how.

Xtek intends to build design and testing capabilities – including new space craft and launcher systems. But the announcement doesn’t mention any specific contracts or revenue – the stuff that gets investors truly excited.

https://www.sharecafe.com.au/2019/08/22/the...t-or-trying-to/

..the stock up 11c or 56c over the past week .... - sometimes takes a while with minnows ! (..can be a fundie getting it across the line with a doubtful committee?)



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Aug 12 2019, 08:17 PM
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QUOTE
" Billions in SAS funding "

https://mobile.abc.net.au/news/2019-08-12/b...aining/11404148

well, $500 mill in first four years, for weapons, body armour, and other equipment, as well as training...

Didn't make any impact on XTE though the company should benefit, down the track



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jul 17 2019, 01:55 PM
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QUOTE
• XTEK to acquire HighCom, a successful and profitable provider of body armour and personal protective equipment in the US market

• HighCom generated CY2018 revenue of A$10.5m, gross margin of ~40% and EBITDA of A$1.4m and the acquisition is expected to be immediately earnings accretive in FY20 (before synergies)

• Purchase consideration comprise of 4.0m XTEK shares, A$1.8m cash consideration, and future earnout based on HighCom’s performance in CY2019

• This strategic acquisition enhances XTEK’s focus on proprietary products by accelerating XTclaveTM commercialisation and expands distribution network into the largest defence market globally

• XTEK has successfully raised A$2.7m via an oversubscribed placement at A$0.45 per share. SPP to raise up to A$1.0m will follow the placement, with eligible shareholders offered the opportunity to acquire additional new shares




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
alonso
post Posted: Jan 30 2019, 02:42 PM
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In Reply To: nipper's post @ Jan 30 2019, 02:00 PM

I had some of these in the days of the War on Terror (is it done yet?) when I thought this has got to be a go.

It didn't work out (another one) and from what you say it still isn't.






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"The optimist proclaims that we live in the best of all possible worlds. The pessimist fears this is true"

"What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom." Adam Smith
 
nipper
post Posted: Jan 30 2019, 02:00 PM
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Another of Tim Boreham's "2019 recovery" stocks, Xtek seems to pick up rats and mice work easily but not getting, despite the closed world of defence tendering, the transformative big'un
QUOTE
In the $50bn a year defence sector, Xtek (XTE, 46c) remains a stock to watch as it wins more contracts pertaining to military drones and ballistic plates and helmets.

Once again, Xtek shares have sagged despite the company’s expectation of current year revenues of up to $26m, compared with $17.3m in 2017-18.
- you'd have to think there's some upside in drones, somehow



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 

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nipper
post Posted: Jul 26 2017, 12:33 PM
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In Reply To: alonso's post @ Jul 26 2017, 12:19 PM

I held XTE as well - a long time ago, pre 1 for 10 consolidation. Made a bit but waiting for news became counterproductive (as per the commentary from CEO about the institutional torpor of bureaucracies)



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
alonso
post Posted: Jul 26 2017, 12:19 PM
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In Reply To: nipper's post @ Jul 26 2017, 10:34 AM

I had some of these in the dim distant past when I thought supplying the anti-terrorism market would be profitable.
You're not telling me I sold out too early again nipper? Damn!



--------------------
"The optimist proclaims that we live in the best of all possible worlds. The pessimist fears this is true"

"What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom." Adam Smith
 
nipper
post Posted: Jul 26 2017, 10:34 AM
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In Reply To: nipper's post @ May 22 2017, 03:58 PM

indeed, RE consideration
QUOTE
Xtek (XTE) For a company that promotes itself as a homeland security specialist, life should be rosy as authorities spend up big on anything from protective bollards to bazookas.

As if we don't need reminding, the urgency of the threat has been highlighted by the federal government's decision to create an uber national security ministry.

But for the Queanbeyan-based Xtek, sustained profitability has proved elusive over its 12 years as a listed company.

"The problem with defence (procurement) is that it's feast or famine,'' says Xtek chief Philippe Odouard. "A small company like us spends a lot of time promoting a product with a pipeline of several years."

After years of sporadic orders for its products, which include armour plating, helmets and bomb-disposal equipment, Xtek has landed the big one: a $100 million order from the Department of Defence to supply and maintain a fleet of SUAS (small unmanned aerial systems, or drones). Put in context, Xtek turned over a measly $3m last year.

Xtek is the exclusive local agent for AeroVironment of the US, the world's biggest drone maker. Xtek, however, is not just clipping the ticket on AeroVironment's machines. More than half of the value of the order consists of ongoing servicing of the units (which, while sturdy, can take a battering in the field), training the users and providing software that enhances the drones' aerial pics. As a guide to how long it's taken to get the military on side, Xtek was involved with trialling unmanned vehicles for the navy a decade ago.

US military heavies are also testing Xtek's ability to make stronger but lighter helmets and armour with its curing process, called XTclave. The US Army has carried out "foreign comparative testing" on Xtek's armour plating, which determines whether kit is better and no dearer than that of a preferred apple pie American supplier. A meeting is scheduled for October but according to Odouard "they are quite happy with the results". The Marines have also bought $800,000 of helmets made with a hydro-clave process that involves the headwear being moulded with high-pressure oil.

Xtek's belated progress hasn't gone unnoticed by the market, with the stock bounding 38 per cent to a high of 55c after the June 1 drone announcement. The company has also guided to $9m of revenue for 2016-17, building to $11-20m in the current year.

Not to waste the opportunity, Xtek on June 28 launched a $3m placement and a $500,000 share purchase plan at 46c apiece, a then 16 per cent discount to the prevailing price. "We have started communicating this to the market and this has changed the profile of the company to a production story," Odouard says.

Odouard previously headed the carbon composites specialist Quickstep Holdings (QHL). A supplier of parts for the F18 joint strike fighter and Hercules transport planes, Quickstep has experienced a similar snail-like trajectory.

Under Odouard, Xtek has sharpened its focus to military contracts and has shut down a cash-sapping retailing business that sold hunting rifles and revolvers. "It was eating a lot of cash and no one really understood it properly."

Indeed: two good reasons to exit a business.
Tim Boreham - edits The New Criterion. tim.boreham@independentresearch.com.au



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: May 22 2017, 03:58 PM
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maybe time to reconsider

QUOTE
XTEK has invested heavily in the last few years to get to this level, postponing returns for shareholders, but has now the contracts, the products and the skilled staff to deliver this fast growth.

XTEK focuses on 3 main segments:
• Explosive Ordnance Disposal (EOD) equipment
• Unmanned Aircraft Systems (UAS) – Unmanned Aerial Vehicles (UAV) and real time tactical imagery
• Ballistic protection and weapons – High-end protection equipment (plates and helmets) as well as its own sniper rifle




--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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