As announced on 6 June 2016, DELTA DRONE and PDT – Public Display Technologies (PTY) Ltd have finalized DELTA DRONE’s acquisition of 100% of ROCKETMINE, a subsidiary of PDT based in Johannesburg and the main operator of civilian drones for professional use in South Africa, particularly in the mining sector.
Completion of the transaction took longer than originally planned, due to the time required to obtain approval from the South African banking authorities. In the end, the transaction will, at their request, be in cash and not in shares as originally announced.
Therefore, the 500,000 shares that DELTA DRONE acquired pursuant to the share-purchase program shall remain on DELTA DRONE’s accounts, and may be used for a future transaction for external growth.
Now made up of 15 employees, including 10 professional drone pilots (which are all also accredited air pilots), ROCKETMINE began its activities once the regulations were passed concerning civilian drones in South Africa in July 2015, as one of only eight companies licensed to do so.
At first simply a branch of PDT, ROCKETMINE quickly entered into several commercial contracts with top mining groups (Anglo American, South 32, BHP – Billiton, etc.) for assignments – most often day assignments – at various mining sites. Thanks to this early success, PDT spun off ROCKETMINE, allowing it to develop independently as a subsidiary as of early 2016.
Over the last 12 months that corresponded to the 2016 financial year, the company generated 11 million Rand (approximately €730K) in revenue, and closed with a positive balance. It foresees significant growth in its activity in 2017, augmented by the exporting of its know-how to other mining countries on the African continent.
In anticipation of the finalization of the agreement, the DELTA DRONE and ROCKETMINE teams have been working together closely for several months, in particular in order to prepare an active commercial development campaign for Africa and several countries in the Americas (Mexico, United States, Canada). In this respect, it has been decided that the DELTA DRONE Group’s offer for the mining sector should be simplified and deployed on the international level solely under the ROCKETMINE brand.
About Delta Drone: The Delta Drone Group is a renowned player in the field of civilian drones for professional use. It offers a complete service, from data acquisition to data processing through a specifically developed information system, including a supply of professional pilots. These pilots are trained and certified by EFD, a subsidiary of the Group, and local partners.
Delta Drone is listed on the Alternext market of Euronext Paris. ISIN code: FR0011522168.
Contact : Aélium