Overview
- DroneShield said Australia’s corporate regulator, ASIC, opened a formal investigation and issued notices requiring its help over November disclosures and share trading.
- The review focuses on a $7.6 million US orders announcement that the company published then withdrew hours later after calling it an administrative error.
- In the same window, the then chief executive, chairman and a director sold about $66.8 million of shares, and the stock fell 31% soon after.
- Following the latest disclosure about the probe, DroneShield shares fell as much as 15% to $2.99.
- The company has installed Angus Bean as chief executive and named Hamish McLennan to succeed long‑time chair Peter James in a push to restore investor confidence.