Metal Storm Ltd /Adr/ - Report of Foreign Issuer (6-K)
February 25 2008 - 6:01AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of February, 2008
Commission File Number 000-31212
Metal Storm Limited
(Translation of registrants name into English)
Building 4, 848 Boundary Road, Richlands,
Queensland, Australia 4077
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form
20-F or Form 40-F:
þ
Form 20-F
o
Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1):
o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7):
o
Indicate by check mark whether the registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934:
o
Yes
þ
No
If Yes is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b):
n/a
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METAL STORM LIMITED
ACN 064 270 006
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Metal Storm sets weapons commercialisation path with ST Kinetics
Brisbane, Australia
22 Feb, 2008 Defence technology company Metal Storm Limited (ASX trading
code: MST and NASDAQ ticker symbol: MTSX) ) has entered into a Collaboration Agreement with
Singapore Technologies Kinetics (ST Kinetics) to take its 3GL three-shot grenade launcher and 40mm
ammunition to manufacture.
Metal Storm CEO Dr. Lee Finniear said the Agreement is a critical next step in the companys
progress and provides a clear path to the commercial production of Metal Storm weapons, with the
goal of producing military-standard trial products within ten months.
This Agreement delivers appropriately-qualified munitions and 3GL weapons for soldiers to trial
and goes on to take Metal Storm weapons to full-scale production, Dr. Finniear said.
This is a clear indication that we have developed our technology to the stage where we can partner
with a major defence company to collaboratively deliver final production weapons.
Under the terms of the Agreement, Metal Storm and ST Kinetics have agreed to collaborate in the
design, development, testing, qualification, manufacture of prototypes and demonstration weapons
and munitions as well as the commercial production and marketing of munitions and selected Metal
Storm ballistic weapons that only use those munitions.
ST Kinetics will contribute funds toward completing the demonstration and trial 3GL weapons and
munitions.
Dr. Finniear said the deal would deliver munitions that are compatible with all of Metal Storms
40mm weapons, not just the 3GL, and would allow it to expand its operationally-ready munitions to
additional types.
The Agreement provides for design enhancement, integration testing and qualification stages
totaling ten months, a demonstration and user trial stage, and a production stage. It also provides
for a joint marketing plan broken down by regions and further collaboration options, including
potentially with other products.
Singapore-based ST Kinetics is the land systems and specialty vehicles arm of Singapore
Technologies Engineering Ltd (ST Engineering). It is one of Asias leading defence and specialty
vehicles companies, with a strong portfolio of products and services for the defence, homeland
security and commercial markets.
ST Kinetics is the worlds leading provider of 40mm solutions, empowering the user with a wide
range of end-effects, including high and low velocity rounds, less-than-lethal rounds, insensitive
and self-destruct munitions. ST Kinetics has a global focus on 40mm solutions and is also
recognised as one of the first in the world to demonstrate a ready and working 40mm air bursting
munitions system.
Dr Finniear said that STK had strong production and manufacturing facilities as well as
international marketing, sales and distribution capabilities. This Agreement builds on the
established and very good working relationship that already exists between our companies, Dr
Finniear said.
ST Kinetics President Sew Chee Jhuen said the Agreement expanded on the very good work already
undertaken between the two companies.
This Agreement complements ST Kinetics objective of maintaining our position as the international
market leader in 40mm munitions, Mr Sew said.
Metal Storms systems fit with ST Kinetics approach of being at the forefront of new and
innovative technologies that can provide a capability advantage, enhancing the soldiers
effectiveness.
Mr Sew said that in addition to development and manufacture, ST Kinetics plans to also market,
distribute and support the Metal Storm weapons and munitions.
Page 1 of 2
Notes:
Metal Storms Australian Stock Exchange trading code: MST
Metal Storms NASDAQ Small Cap ticker symbol: MTSX
Company Contact:
Australia & USA
Dr Lee Finniear Chief Executive Officer, Metal Storm Limited Ph: +61 7 3123 4700
About ST Kinetics
ST Kinetics is the land systems arm of Singapore Technologies Engineering. It provides integrated
systems, specialty vehicles and their related services for defence, government and commercial
applications. This includes design and development, systems integration, production, operations &
support and life cycle management. Through its subsidiary, Advanced Material Engineering Pte Ltd,
ST Kinetics also designs and manufactures a comprehensive suite of 40 mm munition solutions,
conventional and smart munitions, advanced protective materials as well as guided system
components. It also provides consultancy, design and engineering services for homeland security
solutions.
About Metal Storm
Metal Storm Limited is a multi-national defence technology company engaged in the development of
electronically initiated ballistics systems using its unique stacked projectile technology. The
company is headquartered in Brisbane, Australia and incorporated in Australia. Metal Storm Limited
technology and products are represented in the USA by Metal Storm Inc., which has offices in
Arlington Virginia.
Metal Storm is working with government agencies and departments, as well as industry, to develop a
variety of systems utilising the Metal Storm non-mechanical, electronically fired stacked
ammunition system.
Metal Storms weapon technology uses computer-controlled electronic ignition and a system of
stacked projectiles, to achieve a completely non-mechanical gun that is very lightweight and
compact, providing a very high firepower to weight ratio. The Metal Storm weapons system utilizes
multiple barrels mounted together on one platform which allows varying munitions types to be
deployed in a single, low cost, lightweight weapon system. Firing the weapons by electronic
ignition requires no moving parts, allowing reliable long term unattended weapon operation.
Safe Harbour
Certain statements made herein that use the words estimate, project, intend, expect,
believe and similar expressions are intended to identify forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and
unknown risks and uncertainties which could cause the actual results, performance or achievements
of the company to be materially different from those which may be expressed or implied by such
statements, including, among others, risks or uncertainties associated with the development of the
companys technology, the ability of the company to meet its financial requirements, the ability of
the company to protect its proprietary technology, potential limitations on the companys
technology, the market for the companys products, government regulation in Australia and the US,
changes in tax and other laws, changes in competition and the loss of key personnel. For
additional information regarding these and other risks and uncertainties associated with the
companys business, reference is made to the companys reports filed from time to time with the
Securities and Exchange Commission, including the companys Form 20-F.
Page 2 of 2
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Metal Storm Limited
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Date: February 22, 2008
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By:
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/s/ Peter Wetzig
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Name:
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Peter Wetzig
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Title:
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Company Secretary
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