27 January 2017
Codan Limited
ABN 77 007 590 605
Technology Park 2 Second Avenue Mawson Lakes SA 5095
Australia
PO Box 35
Salisbury South SA 5106
Australia
COMPANY ANNOUNCEMENTS PLATFORM AUSTRALIAN SECURITIES EXCHANGECODAN AQUIRES TACTICAL ANTENNA RANGE FROM STEALTH TELECOM
Codan Radio Communications, a division of Codan Limited (ASX:CDA), recently released the Sentry-V™ and Sentry-H™ tactical radios for the global Military market.
In support of this product line expansion, Codan has entered into an agreement to acquire the 9300 range of military tactical antennas from Stealth Telecom FZC of Sharjah, UAE, for total consideration of approximately US$700,000. This acquisition supports our strategy to expand our Radio Communications product offering as we transition to a total communications solutions provider.
Codan will acquire proprietary intellectual property and tooling in return for the consideration paid.
Stealth Telecom manufactures, distributes and services a range of radio communications equipment, including the Stealth 9300 Range.
On behalf of the Board Michael Barton
Company Secretary
Codan is an industrial technology company that provides robust technology solutions that solve customers' communications, safety, security and productivity problems in some of the harshest environments around the world. Our customers include United Nations organisations, mining companies, security and military groups, government departments, major corporates as well as individual consumers and small-scale miners.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:-Donald McGurk Michael Barton
Managing Director & CEO Company Secretary & CFO
Codan Limited Codan Limited
(08) 8305 0392 (08) 8305 0392
Codan Limited published this content on 27 January 2017 and is solely responsible for the information contained herein.
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