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ORBITAL CORPORATION LIMITED (OEC)

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ASX, Legal & CGT Status

Former (or subsequent) names

Shareholder links

Our website ranking of OEC: rating 5
(5 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Link Market Services Perth
Level 12 QV1 Building 250 St Georges Terrace Perth WA 6000
Tel : +61 8 9211 6670 or 1300 554 474
Fax : +61 2 9287 0303
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000OEC2
Address: 4 Whipple Street, BALCATTA, WA, AUSTRALIA, 6021
Tel:  (08) 9441 2311Fax: (08) 9441 2133

Date first listed: 24/01/1989
Company Secretary: Thomas Spencer
Sector: Automobiles & Components Industry Group: XDJ
Activities: Developer of engine and related technologies - the company provides research, design, development and testing services to many of the world's powertrain producers, regulatory authorities and research institutions

News & Events

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The suspension of trading in the securities of Orbital Corporation Ltd will be lifted immediately following the release by OEC of an announcement regarding clarification of a dispute in relation to the reimbursement of costs to the Company from Insitu due to Insitu's termination of the third engine development program under its long term supply agreement.

01/07/2022

Insitu confirmed a termination of convenience of the third engine development program under its long term supply agreement with Orbital UAV. Orbital UAV submitted a reimbursement claim of A$1.8 million to Boeing Insitu on 10 March 2022. This reimbursement claim was calculated as per the contracted terms under which the Termination of Convenience entitles Orbital UAV to claim full reimbursement of all costs incurred on the program up to the date of termination. On 24 June, Orbital UAV received formal advice that Boeing Insitu would contest Orbital UAV's claim. Boeing Insitu is disputing the total value of the reimbursement claim and the level of information required to support the claim. Orbital UAV maintains the validity of the A$1.8 million reimbursement claim and is now working with Boeing Insitu to specifically address the disputed issues, with the intention of pursuing the full recovery of the amount claimed. Orbital UAV's full year revenue and other income for financial year 2022 has been impacted by factors related to Boeing Insitu production and development programs. The WA Government loan offset milestones are currently being renegotiated with the WA government. The ompany has received confirmation from the WA Government that loan repayments will not fall due while the milestones are under negotiation. Unaudited revenue and other income for FY22 is now expected to be approximately A$19 million with a resulting net loss of approximately A$7 million. The company has established an unsecured standby working capital facility of up to A$1 million with the ICM Group, which currently holds 30% of Orbital Corporation shares.

01/07/2022

The securities of Orbital Corporation Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of OEC, pending the release of an announcement regarding clarification of a dispute in relation to the reimbursement of costs to the Company from Insitu due to Insitu's termination of the third engine development program under its long term supply agreement.

24/06/2022

we understand that on or about this date the company consolidated its shares 1 for 10

12/11/2010

shares reinstated to quotation

10/06/2010

shares suspended from quotation pending release of an announcement

03/06/2010

shares reinstated to quotation

14/11/2006

shares suspended from quotation pending release of an announcement

10/11/2006

name changed from Orbital Engine Corporation Limited

01/11/2004

 

Click here for free access to this company's:
ASX, Legal & CGT Status

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Enquiries about this company should be initiated here: https://www.delisted.com.au/TraceLostSharesLostMoney/index

08/05/2020 08:04:44

Hi there,

Hoping you can help me, back in the 80's i bought into sarich technologies now orbital engines, trying to find out about them, as I have lost information. Thank you.

Regards Lyn Taylor

0428 224 440

lynjtaylor@hotmail.com

08/05/2020 07:45:49

Company Updates

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    Click here for free access to this company's:
    ASX, Legal & CGT Status

    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    28/09/2023Steve Gallagher150,000$0.146$21,922
    26/09/2023John Welborn225,018$0.140$31,517
    30/11/2018Kyle Abbott30,000$0.500$14,987
    28/11/2018John Welborn70,897$0.500$35,449
    06/11/2017Todd Alder188,000$0.531$99,859

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    John WelbornChairman, Independent Director17/06/2014
    Andrew MillsInterim CEO26/09/2023
    Thomas SpencerCFO31/10/2022
    Steve GallagherNon Exec Director12/04/2017
    Grant LukeyNon Exec Director01/12/2023
    Kyle AbbottNon Exec Director01/05/2018

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Todd AlderManaging Director, CEO18/11/201626/09/2023
    David BonominiCFO10/02/202031/10/2022
    Roule JonesCFO16/08/201710/02/2020
    Terry StinsonNon Exec Director21/06/200818/11/2019
    John PoyntonNon Exec Director18/03/201512/04/2017
    Ian VeitchCFO08/02/201318/11/2016
    Vijoleta Braach-MaksvytisNon Exec Director31/03/200818/03/2015
    Merv JonesNon Exec Director02/09/201318/03/2015
    Peter DayNon Exec Director22/08/200728/02/2014
    Keith HalliwellCFO14/08/200008/02/2013

    Date of first appointment, title may have changed.