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ETHERSTACK PLC — Regulatory Filings 2020
Dec 6, 2020
64877_rns_2020-12-06_85cdfc3a-70e9-4e8f-bdad-d7c905e12432.pdf
Regulatory Filings
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Etherstack plc | Sydney (GMT+10) 93A Shepherd Street Chippendale, NSW 2008 Australia Email :[email protected] P : +61 2 8399 7500 F : +61 2 8399 7507
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7[th] December 2020
ASX Announcement
ETHERSTACK PLC [ASX:ESK]
("Etherstack" or the "Company")
Etherstack signs $4.1m first stage Australian Defence Contract
The Company is pleased to report that its subsidiary Etherstack Pty Ltd has entered into a technology licensing contract with the Australian Department of Defence to supply Etherstack technology and associated delivery services to the Commonwealth of Australia.
The initial stage of multiple proposed work packages is worth A$4.1m, with the majority of this revenue to be recognised in FY2021. A modest contribution to the current financial year (ending 31[st] December 2020) is expected.
Management expects that further work packages will be contracted based on performance of the initial work package, but advises that these future packages cannot be guaranteed.
Anna Squires, Director of Etherstack’s Waveforms Division said, “Etherstack has supplied technologies and services to allied defence organisations and radio manufacturers in Europe and North America for almost two decades. This Australian program is a significant step towards a long-term relationship with the Australian Defence Force”.
Etherstack CEO, David Deacon added, “This program builds upon existing Etherstack technology and creates a significant Australian export opportunity to both other nations and international military equipment manufacturers. The supplied solution is repeatable and the first of its kind that will be compliant to a specific military standard. Etherstack expects interest from existing and new radio manufacturer customers internationally, as well as other nations, and will attempt to rapidly capitalise through licensing the solution to other countries. We have a proven track record of engaging and contracting with this customer base.”
Authorised for release by David Carter
Enquiries
Etherstack Media: Walbrook Investor Relations David Carter, Chief Financial Officer Mr. Ben Knowles T: +61 2 8399 7500 T: +61 426 277 760 www.etherstack.com [email protected]
About Etherstack plc (ASX:ESK):
Etherstack is a wireless technology company specialising in developing, manufacturing and licensing mission critical radio technologies for wireless equipment manufacturers and network operators around the globe. With a particular focus in the public safety, defence, utilities, transportation and resource sectors, Etherstack's technology and solutions can be found in radio communications equipment used in the most demanding situations. The company has R&D facilities in London, Sydney, New York and Yokohama.
English Registered Company No. 7951056 | ARBN 156 640 532
London (GMT) P : +44 207 734 0200 [email protected]
Yokohama (GMT +9) P : +81 45 342 9050 [email protected]
New York (GMT-5) P : +1 917 661 4110 [email protected]