DroneShield Ltd (ASX:DRO, OTC:DRSHF) has announced it will introduce a mandatory minimum shareholding policy (MSP) for all directors and senior management, following an independent review of its continuous disclosure and securities trading policies.
Under the policy, directors will be required to hold ordinary shares equivalent to their annual base fee within three years. The chief executive will be required to hold shares worth 200% of annual salary within 12 months.
DroneShield also plans to update its securities trading and information-sharing rules to align with S&P/ASX 200 Index standards.
The company said it is searching for an additional independent non-executive director with ASX200 experience, with the appointment targeted within 12 months.
Shares were up 8.63% to $3.020 by 1pm on the news.