The defence contractor formerly known as XTEK has begun trading on the ASX under its new name, HighCom.
In a statement on Wednesday, the company said that the change of name had been processed by the Australian Securities and Investment Commission. Its ASX ticker code has gone from XTE to HCL.
The changes follow shareholders voting to approve them at an annual general meeting on November 23.
The proposed changes were announced last month, and explained as “aligning the ASX listed parent company name with the US and International subsidiary names” and reflecting the revenue-generating potential of the HighCom ballistic armour brand.
XTEK listed on the ASX under that name in 2005 as a supplier of security-related products and services.
Its focus has more recently been on armour, using an Australian-developed XTClave composite curing process, and fulfilling a “transformative” international order last year through its HighCom division.
Following a patent in 2007 and a long period of R&D, the company announced last month that it would shut its Adelaide factory and undertake all production at its Columbus, Ohio site, citing opportunities in that market.
It gained a US presence through the acquisition of HighCom Armor Solutions in 2019.
Picture: credit HighCom