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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 October, 2009

Commission File Number 000-31212

Metal Storm Limited

(Translation of registrant’s 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

TABLE OF CONTENTS


Part 1 — All issues
Part 2 — Bonus issue or pro rata issue
Part 3 — Quotation of securities
SIGNATURES


		METAL STORM LIMITED ACN 064 270 006

CEO Bulletin – September 2009

Brisbane, Australia — Friday 18th September 2009: Metal Storm Limited (ASX trading code: MST, OTC Symbol: MTSXY).

Fellow shareholders,

In this CEO Bulletin, I will cover the following:

	•		Recent visit by Federal MPs

	•		Development of the new 3GL “bullpup”

	•		Ammunition qualification

	•		MAUL^TM Development

	•		MPM

Federal Labor MPs Visit Metal Storm

Metal Storm took great pleasure recently in hosting a visit by Federal Queensland Labor MPs, the Hon. Arch Bevis and the Hon. Bernie Ripoll.

Arch Bevis, the Member for Brisbane, is Chairman of the Federal Parliamentary Defence Sub-Committee and also Chairman of the Joint Intelligence and Security Committee. Bernie Ripoll is the Member for Oxley and has had an ongoing interest in Metal Storm as the Company’s headquarters in his electorate. He is also a member of the Defence Sub-Committee and Chairman of the Joint Statutory Committee on Corporations and Financial Services.

During the visit, Mr Bevis witnessed a shoulder-firing demonstration of the 3GL at Belmont Range, and was then joined by Bernie Ripoll for a tour of the Metal Storm facilities and a detailed company briefing. Mr Bevis was greatly impressed by the capabilities of the weapon on the range and understood its operational potential.

Senior Metal Storm management stressed to the MPs the technical achievements and export potential for Australia from Metal Storm products and both MPs congratulated Metal Storm on the

Page 1 of 5

progress the Company has made on its weapons and munitions development, particularly over the past three years.

Management also outlined the Company’s current financial circumstances and the impact to Metal Storm from the loss of the Commercial Ready innovation grants program, which was axed in the 2008 Federal Budget. Both MPs fully understood the situation and said that they intended to take the message directly back to the relevant ministers in Canberra to push for progress on our behalf.

New 3GL “Bullpup”

The engineering team in Brisbane have continued the development of the 3GL and have been working on a revised “bullpup” configuration. The “bullpup” moniker is normally used to describe assault rifles that have the magazine and working parts behind the pistol grip, resulting in a shorter weapon. By moving the trigger and pistol grip forward and shortening the stock we have created a highly compact standalone weapon that is also ideally suited to mounting on shorter assault rifles.

The new design measures under 600mm, including its shoulder stock, while the three round capacity remains the same. An added benefit when the weapon is mounted to an assault rifle is that the pistol grip provides more stability and precise aim control compared to the original 3GL.

The majority of the components are unchanged from earlier versions, allowing users to choose between the standard version and the “bullpup”. This also allows virtually all of the testing to be valid for both versions, saving time and money in qualification and manufacture.

The revised design also gives other additional features:

	•		Support for a wider range of assault rifles, including those that require their magazines to tilt forward in order to reload (e.g. AK weapon range)

	•		Improved grip surfaces for handling when wet/muddy

	•		Length as a standalone makes it ideal for carriage on a pack or sling if underslung mounting not desired

	•		Shorter pistol grip reduces overall depth profile on both underslung and standalone configurations, without sacrificing usability.

Page 2 of 5

Ammunition

In February 2009 Metal Storm certified its 3GL and 40mm ammunition safe for man-firing using non-explosive munitions. Since then it has been perfecting the designs for full qualification with explosive warheads.

Metal Storm’s STORM40 40mm ammunition is expected to pass its Critical Design Review (CDR) in October. This is later than anticipated, as a fine-tuning of tail clip design was needed. The revised design has now passed its series of prequalification tests.

CDR marks the formal end of the development and prequalification phase and entry into the formal qualification process, which is programmed to take about three months. In order to make the qualification process as smooth and as low risk as possible, we have already completed extensive firings at temperatures from -54°C up to 71°C and a barrage of other tests to replicate the testing that forms formal qualification. This testing has been carried out using bench and shoulder firings and has provided a high degree of confidence that formal qualification will be successful. STK has been doing an excellent job as our partner in this pre-qualification and qualification process.

Mission Payload Module (MPM) Contract

Metal Storm Inc. is working intensely on a response to the Request for Proposal (RFP) for the U.S. Marine Corps Mission Payload Module Program released this month. It is expecting to provide a full proposal response to bid for this important program.

Page 3 of 5

MAULTM

Since the last Bulletin, we have continued to market and demonstrate MAUL™ to the Department of Defense, Homeland Security and Law Enforcement communities.

Concurrent with our marketing efforts, we have been expanding the family of munitions to include a buckshot and a number of speciality-less lethal rounds.

MAUL will be formally introduced to the Law Enforcement marketplace at the International Association of Chiefs of Police conference next month in Denver, Colorado.

Share Purchase Plan & Capital Raise

As you are aware, on 31 July 2009, Metal Storm Limited shareholders and noteholders, voted to extend the Company’s convertible notes. The notes were due to mature on 1 September 2009, but it was agreed to extend the notes to 1 September 2011. This extension has allowed us to use the $2,624,900 raised from the successful Share Purchase Plan (SPP) to continue operations and to move forward in discussions with potential investors to raise capital to complete the final phase of our commercialisation process. The Company is currently in ongoing discussions with a number of potential investors and will provide further information to the market when appropriate.

Lee Finniear
CEO Metal Storm

18th September 2009

Page 4 of 5

Notes:

Metal Storm’s Australian Stock Exchange trading code: MST
Metal Storm’s OTC Symbol: MTSXY

Company Contact:

Australia & USA

Dr Lee Finniear – Chief Executive Officer, Metal Storm Limited – Ph: +61 7 3123 4700

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 Storm’s 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 company’s 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 company’s technology, the market for the company’s 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 company’s business, reference is made to the company’s reports filed from time to time with the Securities and Exchange Commission, including the company’s Form 20-F.

Page 5 of 5

Appendix ₃B
New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement,
application for quotation of additional securities
and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of entity

Metal Storm Limited

ABN

99 064 270 006

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

+Class of +securities issued or to be issued

1.		Secured Convertible Notes
2.		Unquoted options

Number of +securities issued or to be issued (if known) or maximum number which may be issued

109,504,140 Secured Convertible Notes

2.	a.		78,217,067 unquoted options
	b.		31,250 unquoted options expired 4/9/09

176,756,604 quoted options expired 31/8/09



+ See chapter 19 for defined terms.

24/10/2005		Appendix 3B - Page 1

Appendix ₃B
New issue announcement

Principal terms of the ⁺securities (eg, if options, exercise price and expiry date; if partly paid ⁺securities, the amount outstanding and due dates for payment; if ⁺convertible securities, the conversion price and dates for conversion)

Secured Convertible Notes:

	•		Face Value $0.135
	•		Non-interest bearing
	•		Mature 1 September 2011
	•		Convertible on the first business day of each quarter prior to maturity, on maturity, or within 15 business days after the date of a takeover notice
	•		Conversion price is the lesser of $0.135 per share or 90% of the VWAP during the business days immediately preceding the conversion date, rounded to the nearest cent.

a. Unquoted options

	•		Exercise price of $0.001
	•		Expire three years after the date of issue

Do the ⁺securities rank equally in all respects from the date of allotment with an existing ⁺class of quoted ⁺securities?

If the additional securities do not rank equally, please state:

	•		the date from which they do
	•		the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
	•		the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

	1.		Convertible Notes - No Secured convertible notes are secured by a fixed and floating charge over the assets of the company and rank ahead of interest bearing notes in that respect. They can be converted into ordinary shares of the Company that rank equally in all respects with the existing ordinary shares.

	2.		Unquoted options - Yes

Issue price or consideration

	1.		Nil
	2.		Nil

Purpose of the issue
(If issued as consideration for the acquisition of assets, clearly identify those assets)

& 2. Issue of 109,504,140 secured convertible notes and 78,217,067 unquoted options in accordance with the terms of the election booklet and prospectus issued on 12 August 2009.

Dates of entering ⁺securities into uncertificated holdings or despatch of certificates

24 September 2009



+ See chapter 19 for defined terms.

24/10/2005		Appendix 3B - Page 2

Appendix ₃B
New issue announcement

Number and ⁺class of all ⁺securities quoted on ASX (including the securities in clause 2 if applicable)



	Number			⁺Class

	745,582,288			Ordinary Shares

	109,504,140			Secured Convertible Notes

	33,367,055			Interest Bearing Convertible Notes

Number and ⁺class of all ⁺securities not quoted on ASX (including the securities in clause 2 if applicable)



	Number			⁺Class

	91,877,067			Unquoted Options

Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

N/A

Part 2 - Bonus issue or pro rata issue


11		Is security holder approval required?

12		Is the issue renounceable or non-renounceable?

13		Ratio in which the ⁺securities will be offered

14		⁺Class of ⁺securities to which the offer relates

15		⁺Record date to determine entitlements

16		Will holdings on different registers (or sub-registers) be aggregated for calculating entitlements?

17		Policy for deciding entitlements in relation to fractions



+ See chapter 19 for defined terms.

24/10/2005		Appendix 3B - Page 3

Appendix ₃B
New issue announcement


18		Names of countries in which the entity has ⁺security holders who will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7.

19		Closing date for receipt of acceptances or renunciations

20		Names of any underwriters

21		Amount of any underwriting fee or commission

22		Names of any brokers to the issue

23		Fee or commission payable to the broker to the issue

24		Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of ⁺security holders

25		If the issue is contingent on ⁺security holders’ approval, the date of the meeting

26		Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled

27		If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders

28		Date rights trading will begin (if applicable)

29		Date rights trading will end (if applicable)

30		How do ⁺security holders sell their entitlements in full through a broker?



+ See chapter 19 for defined terms.

24/10/2005		Appendix 3B - Page 4

Appendix ₃B
New issue announcement

Part 3 – Quotation of securities

You need only complete this section if you are applying for quotation of securities


34	Type of securities (tick one)

(a)	þ	Securities described in Part 1

(b)	o	All other securities Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or
documents


35	o	If the ⁺securities are ⁺equity securities, the names of the 20 largest holders of the additional ⁺securities, and the number and percentage of additional ⁺securities held by those holders

36	o	If the ⁺securities are ⁺equity securities, a distribution schedule of the additional ⁺securities setting out the number of holders in the categories 1 – 1,000 1,001 – 5,000 5,001 – 10,000 10,001 – 100,000 100,001 and over

37	o	A copy of any trust deed for the additional ⁺securities

+ See chapter 19 for defined terms.



24/10/2005		Appendix 3B - Page 6

Appendix ₃B
New issue announcement

Entities that have ticked box 34(b)


38	Number of securities for which ⁺quotation is sought

39	Class of ⁺securities for which quotation is sought

40	Do the ⁺securities rank equally in all respects from the date of allotment with an existing ⁺class of quoted ⁺securities? If the additional securities do not rank equally, please state:
	• the date from which they do
	• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
	• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

41	Reason for request for quotation now

	Example: In the case of restricted securities, end of restriction period

	(if issued upon conversion of another security, clearly identify that other security)



		Number	⁺Class
42	Number and ⁺class of all ⁺securities quoted on ASX (including the securities in clause 38)

+ See chapter 19 for defined terms.



24/10/2005		Appendix 3B - Page 7

Appendix ₃B
New issue announcement

Quotation agreement

1		⁺Quotation of our additional ⁺securities is in ASX’s absolute discretion. ASX may quote the ⁺securities on any conditions it decides.

2		We warrant the following to ASX.

	•		The issue of the ⁺securities to be quoted complies with the law and is not for an illegal purpose.

	•		There is no reason why those ⁺securities should not be granted ⁺quotation.

	•		An offer of the ^⁺securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

			Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

	•		Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any ⁺securities to be quoted and that no-one has any right to return any ⁺securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the ⁺securities be quoted.

	•		If we are a trust, we warrant that no person has the right to return the ⁺securities to be quoted under section 1019B of the Corporations Act at the time that we request that the ⁺securities be quoted.

3		We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

4		We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before ⁺quotation of the ⁺securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.


Sign here:		Date: 24 September 2009
	~~(Director~~/Company secretary)

Print name: Peter Ronald Wetzig

== == == == ==

+ See chapter 19 for defined terms.



24/10/2005		Appendix 3B - Page 8


		METAL STORM LIMITED ABN 99 064 270 006

Unquoted Options

The outstanding balance at 24 Sept 2009 is represented by:


Expiry Date	Exercise Price A$		Number
30-Sep-09		0.400		62,500
14-Oct-09		0.400		125,000
24-Nov-09		0.400		6,250
4-Dec-09		0.400		31,250
7-Dec-09		0.400		12,500
31-Dec-09		0.400		150,000
18-Mar-10		0.400		20,000
31-Mar-10		0.400		200,000
21-Jun-10		0.400		578,750
24-Jun-10		0.400		1,990,000
30-Jun-10		0.400		200,000
30-Sep-10		0.400		200,000
31-Dec-10		0.400		218,750
31-Mar-11		0.400		193,750
28-Apr-11		0.400		940,000
30-Jun-11		0.400		818,750
2-Jul-11		0.010		5,000,000
30-Sep-11		0.400		125,000
27-Oct-11		0.400		506,250
31-Dec-11		0.400		193,750
8-Mar-12		0.180		1,000,000
31-Mar-12		0.400		193,750
30-Jun-12		0.400		193,750
24-Sept-12		0.001		78,217,067
30-Sep-12		0.400		193,750
31-Dec-12		0.400		168,750
31-Mar-13		0.400		168,750
30-Jun-13		0.400		168,750

				91,877,067


		METAL STORM LIMITED ACN 064 270 006

Implementation of Convertible Notes Restructure

Brisbane, Australia – 24 September 2009: Metal Storm Limited (ASX trading code: MST, OTC Symbol: MTSXY).

Metal Storm confirms that the restructure of its convertible notes (Notes) under the Election Booklet and Prospectus announced on 12 August 2009 has now been completed.

The Company received 396 elections to hold Secured Notes in respect of 109,504,140 or approximately 77% of the Notes on issue. These notes have now become Secured Notes.

Metal Storm is pleased to announce that, due to Noteholders’ strong support for the restructure, the Secured Notes have met listing requirements and are expected to commence trading on ASX from Monday, 28 September 2009. The Secured Notes will trade under the code: MSTGA.

As set out in the Election Booklet and Prospectus, Noteholders that elected to hold Secured Notes were today issued New Options on the basis of 5 New Options for every 7 Secured Notes held. A total of 78,217,067 New Options were issued to Secured Noteholders. The New Options will not be quoted on ASX.

The Company confirms that its existing Notes, known as Interest Bearing Notes, will continue to be quoted on ASX under the code MSTG.

The Board would like to thank the Noteholders for their strong support of the Company during this process.

Page 1 of 2

Metal Storm Limited
ACN 064 270 006

Notes:

Metal Storm’s Australian Stock Exchange trading code: MST
Metal Storm’s OTC Symbol: MTSXY

Company Contact:

Australia & USA

Dr Lee Finniear - Chief Executive Officer, Metal Storm Limited - Ph: +61 7 3123 4700

About Metal Storm

Safe Harbour

Page 2 of 2


		Metal Storm Limited ABN 99 064 270 006

Top 20 Holders of Secured Notes

24 September 2009


			Secured Notes
Rank		Name	Elected		Percent
	1	NATIONAL NOMINEES LIMITED		65,175,812		59.52	%
	2	HARMONY INVESTMENT FUND LTD		32,726,847		29.89	%
	3	NASFUND CONTRIBUTORS SAVINGS & LOAN SOCIETY		1,250,000		1.14	%
	4	MR GRAHAM BUGDEN		1,000,000		0.91	%
	5	MS INVESTMENTS NO 2 PTY LTD		1,000,000		0.91	%
	6	DELPHI SYSTEMS PTY LTD		514,280		0.47	%
	7	MR MICHAEL GRANT RING		492,595		0.45	%
	8	MURRELL AAA PTY LTD		402,112		0.37	%
	9	MRS WENDY O’MORE		332,384		0.30	%
	10	MR DEAN BUTTON		264,814		0.24	%
	11	LISAB PTY LTD		260,000		0.24	%
	12	MR ROGER MORGAN		205,472		0.19	%
	13	MRS SILKE PANOS & MR CHARLES PANOS		197,129		0.18	%
	14	MR CONRAD SILVESTER & MRS JANE ELEANOR SILVESTER		196,893		0.18	%
	15	MR ANDREW BUGDEN		150,000		0.14	%
	16	DAYDREAMERS PTY LTD		130,076		0.12	%
	17	MAXWILD PTY LTD		119,995		0.11	%
	18	MR MICHAEL ANDREW PETTY & MRS SUSAN LILLIAN PETTY		112,308		0.10	%
	19	ABBOTSFIELD PTY LTD		108,398		0.10	%
	20	MR IAN KENNETH LIDDELL & MRS MIRELLA LIDDELL		100,000		0.09	%
				104,739,115		95.65	%


		Metal Storm Limited ABN 99 064 270 006

Top 20 Holders of Interest Bearing Notes
24 September 2009


			Interest Bearing
Rank		Name	Notes		Percentage
	1	PNG PORTS CORPORATION LIMITED		22,500,000		67.43	%
	2	RAIBUS SECURITY SERVICES LTD		1,051,961		3.15	%
	3	MR ANDREW WINSTON DOYLE		909,558		2.73	%
	4	DUPA LTD		861,775		2.58	%
	5	MR ALFRED JOHN MILANI & MRS JENNIFER JAYE MILANI		750,000		2.25	%
	6	CENTURA PTY LTD		335,582		1.01	%
	7	KEONG LIM PTY LIMITED		313,247		0.94	%
	8	PAPUA NEW GUINEA MAMA GRAUN CONSERVATION TRUST FUND		250,000		0.75	%
	9	MERRILL LYNCH (AUSTRALIA) NOMINEES PTY LIMITED		240,000		0.72	%
	10	GOFFACAN PTY LTD		231,200		0.69	%
	11	MR STEPHEN DAVID VEALE		201,870		0.60	%
	12	MS JENNIFER MARGARET CHILLINGWORTH		200,000		0.60	%
	13	KAJAM PTY LIMITED		200,000		0.60	%
	14	EVANGELICAL CHURCH OF PAPUA NEW GUINEA		162,500		0.49	%
	15	MR CHRISTOPHER IAN WALLIN & MS FIONA KAY WALLIN & MS ANN CATHERINE WALLIN		149,589		0.45	%
	16	ANZ NOMINEES LIMITED		137,724		0.41	%
	17	MS LORNA MAY BACKHOUSE		119,193		0.36	%
	18	LINDWAY IVNESTMENTS PTY LTD		118,303		0.35	%
	19	MUSIROU MANDIOL		112,931		0.34	%
	20	MR ARTHUR MATTHEW BUGDEN & MRS WENDY JOYCE BUGDEN		111,591		0.33	%
				28,957,024		86.78	%


		Metal Storm Limited ABN 99 064 270 006

Top 20 Holders of New Options
24 September 2009


Rank		Name	New Options		Percent
	1	NATIONAL NOMINEES LIMITED		46,554,151		59.52	%
	2	HARMONY INVESTMENT FUND LTD		23,376,319		29.89	%
	3	NASFUND CONTRIBUTORS SAVINGS & LOAN SOCIETY		892,857		1.14	%
	4	MR GRAHAM BUGDEN		714,285		0.91	%
	5	MS INVESTMENTS NO 2 PTY LTD		714,285		0.91	%
	6	DELPHI SYSTEMS PTY LTD		367,342		0.47	%
	7	MR MICHAEL GRANT RING		351,853		0.45	%
	8	MURRELL AAA PTY LTD		287,222		0.37	%
	9	MRS WENDY O’MORE		237,417		0.30	%
	10	MR DEAN BUTTON		189,152		0.24	%
	11	LISAB PTY LTD		185,714		0.24	%
	12	MR ROGER MORGAN		146,765		0.19	%
	13	MRS SILKE PANOS &		140,806		0.18	%
	14	MR CONRAD SILVESTER &		140,637		0.18	%
	15	MR ANDREW BUGDEN		107,142		0.14	%
	16	DAYDREAMERS PTY LTD		92,911		0.12	%
	17	MAXWILD PTY LTD		85,710		0.11	%
	18	MR MICHAEL ANDREW PETTY & MRS SUSAN LILLIAN PETTY		80,220		0.10	%
	19	ABBOTSFIELD PTY LTD		77,427		0.10	%
	20	MR IAN KENNETH LIDDELL & MRS MIRELLA LIDDELL		71,428		0.09	%
				74,813,643		95.65	%


		METAL STORM LIMITED ACN 064 270 006

Despatch of holding statements for Notes Restructure

Brisbane, Australia – Friday, 25 September 2009: Metal Storm Limited (ASX trading code: MST, OTC Symbol: MTSXY).

Following implementation of the Notes Restructure announced yesterday, Metal Storm confirms that holding statements for the Secured Notes and New Options have now been despatched.

The Secured Notes are expected to commence trading on ASX under code MSTGA from Monday, 28 September 2009.

END

Notes:

Metal Storm’s Australian Stock Exchange trading code: MST

Metal Storm’s OTC Symbol: MTSXY

Company Contact:

Australia & USA

Dr Lee Finniear – Chief Executive Officer, Metal Storm Limited – Ph: +61 7 3123 4700

About Metal Storm

Safe Harbour

Page of 1

MARKET RELEASE

28 September 2009

Metal Storm Limited

REINSTATEMENT TO OFFICIAL QUOTATION

The suspension of trading in the 10% convertible notes maturing on 1 September 2011 (“Convertible Notes”) of Metal Storm Limited (the “Company”) will be lifted from the commencement of trading today, following the receipt of announcements regarding the implementation of the Convertible Notes restructure.

Please note that quotation of the Company’s new line of secured convertible notes will commence from the commencement of trading today under the security code “MSTGA”.


Security Codes:		MSTG
		MSTGA

Rohan Abeyewardene
Senior Adviser, Issuers (Brisbane)

MST2009.09.28reinstatement-rma

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		METAL STORM LIMITED ACN 064 270 006 Market Release to Port Moresby Stock Exchange

Brisbane, Australia – Monday, 28 September 2009: Metal Storm Limited (ASX trading code: MST, OTC Symbol: MTSXY).

The following company announcement will be release shortly to the Port Moresby Stock Exchange Limited (PoMSOX) where the Company’s interest bearing convertible notes are listed.

END

Notes:

Metal Storm’s Australian Stock Exchange trading code: MST
Metal Storm’s OTC Symbol: MTSXY

Company Contact:

Australia & USA
Dr Lee Finniear - Chief Executive Officer, Metal Storm Limited - Ph: +61 7 3123 4700

About Metal Storm

Safe Harbour

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		METAL STORM LIMITED ACN 064 270 006

Implementation of Convertible Notes Restructure

Brisbane, Australia – 28 September 2009: Metal Storm Limited (PoMSOX Code: MSTG).

Metal Storm confirms that the restructure of its convertible notes (Notes) under the Election Booklet and Prospectus announced on 12 August 2009 has now been completed.

The Company received 396 elections to hold Secured Notes in respect of 109,504,140 or approximately 77% of the Notes on issue. These notes have now become Secured Notes.

Metal Storm is pleased to announce that, due to Noteholders’ strong support for the restructure, the Secured Notes have met Australian Securities Exchange (ASX) listing requirements and are expected to commence trading on ASX under the code MSTGA from today.

The Company confirms that its existing Notes, known as Interest Bearing Notes, will continue to be quoted on ASX and PoMSOX under the code MSTG.

The Company will, subject to satisfying Port Moresby Stock Exchange Limited’s (PoMSOX) listing requirements, proceed with seeking listing of the secured notes on PoMSOX and will advise the market further when this process is completed.

The Board thanks the Noteholders for their strong support of the Company during this process.

END

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	Metal Storm Limited
Date: October 2, 2009	By:	/s/ Peter Wetzig
		Name:	Peter Wetzig
		Title:	Company Secretary

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31		How do ⁺security holders sell part of their entitlements through a broker and accept for the balance?

32		How do ⁺security holders dispose of their entitlements (except by sale through a broker)?

33		⁺Despatch date



+ See chapter 19 for defined terms.

24/10/2005		Appendix 3B - Page 5


Number of securities					Interest
held			Secured Notes		Bearing Notes		New options
1	—	1,000		51		163		75
1,001	—	5,000		119		246		130
5,001	—	10,000		75		53		62
10,001	—	100,000		132		106		114
100,001		and over		19		21		15
				396		589		396