Board unanimously recommends that shareholders REJECT the CERCG Offer and take no action in respect of any documents received from CERCG in relation to the CERCG Offer.
With its large-scale Tactical Engagement Simulation (TES) capability, AWES
provides unprecedented realism for simulated force-on-force battles.
continued to carefully manage its investment spend in order to pursue the development of our high value growth assets, particularly Waitsia.
Cubic developed, installed and delivered AWES
under contracts totaling $130 million that were awarded in 1998.
Limited today announced a fully underwritten institutional share placement to raise approximately A$38 million (Institutional Placement).
What sets AWES
apart from all other systems in use today is its integration of a wider array of weapons effects into combat training exercises that stretch beyond small arms and vehicle weapons direct-fire effects.
As announced on 15 November 2017, AWE
will also undertake a non-underwritten Share Purchase Plan (SPP) of up to $10 million which is open to eligible Australian and New Zealand shareholders who were on AWE
's share register as at 7:00pm (Sydney time) on the record date of 14 November 2017.
The system -- an integral part of AWES
-- allows troops to fire laser-based "bullets" from their actual weapons, then scores and records their performance for AARs.
Completion of the Sugarloaf sale, for an excellent price in extremely challenging market conditions, demonstrates both the quality of AWEs
asset base and the companys technical and commercial strengths.
A successfully deployed AWES
system will be the cornerstone for significant future business in the U.
The sale proceeds might be utilized to repay debt drawn under AWEs
debt facility, and might fortify the firms balance sheet, leaving AWE
with a total hard-money position of around A$60-million.
-- Cubic is developing the Area Weapons Effects Simulator (AWES
) for the British Army.
Mr Bruce Clement, AWEs
Managing Director and CEO, said that FID of the first stage of the Waitsia gas project was a landmark for AWE
and would reinvigorate the potential for onshore gas production in Western Australia.
As prime contractor of the massive AWES
project, Cubic is responsible for designing, developing, manufacturing and delivering two ground combat training systems; one for the Salisbury Plain Training Area (SPTA) in the United Kingdom and a second for the British Army Training Unit at Suffield (BATUS) in the Canadian province of Alberta.
Our JRTC experience and current state-of-the-art developments for AWES
provide us with the world's best expertise in training, tracking and gathering of data for light forces combat readiness," said Gary Washam, Cubic's program manager for MOUT IDIQ.