cross

Subscription of one block of 1 million euros under the February 2015 contract for convertible notes with attached warrants

Delta Drone announces YA GLOBAL MASTER SPV Ltd’s exercise on 8 September 2016, at its own initiative, of the eighth warrants (BEOCABSA) for convertible notes (OCA) with warrants attached (BSA) (OCA and BSA together are the OCABSA), resulting in the subscription, on 8 September 2016, by YA GLOBAL MASTER SPV Ltd of the eighth block of OCABSA, corresponding to the issuing of 100 OCA with a face value of 10,000 euros each, representing a bond issue of 1,000,000 euros with 777,604 BSA having an exercise price of 1.286 euros.

The theoretical future impact of the conversion of all of the OCA and the exercise of all of the BSA resulting from the eighth block of OCABSA on the consolidated net assets per share and the shareholders’ position is shown in the charts below:

• Impact of the issue on the net assets per share

Consolidated net assets per share *

a) Before the issue of a maximum of 1,697,567 new shares resulting from (i) the conversion of the 100 OCA and (ii) the exercise of the 777,604 BSA : 0,34 €

b) After the issue of a maximum of 1,697,567 new shares resulting from (i) the conversion of the 100 OCA and (ii) the exercise of the 777,604 BSA : 0,40 €

*These calculations have been made based on the lowest of the Volume Weighted Average Price observed for the five trading days prior to 7 September 2016 (i.e., €1.1687), on the basis of the current number of shares and Delta Drone’s consolidated net assets as at 31 December 2015 (i.e., €8.232k)

• Impact of the issue on the shareholders’ position

Shareholder stake*

a) Before the issue of a maximum of 1,697,567 new shares resulting from (i) the conversion of the 100 OCA and (ii) the exercise of the 777,604 BSA : 1,00 %

b) After the issue of a maximum of 1,697,567 new shares resulting from (i) the conversion of the 100 OCA and (ii) the exercise of the 777,604 BSA : 0,93%

* These calculations have been made based on the lowest of the Volume Weighted Average Price observed for the five trading days prior to 7 September 2016 (i.e., €1.1687) and on the basis of the current number of shares

This transaction falls under the framework of the contract for the issue of the OCABSA entered into between DELTA DRONE and YA GLOBAL MASTER SPV Ltd in February 2015i and approved by the ordinary and extraordinary general shareholders’ meeting of 21 May 2015ii. On the same day, the Board of Directors decided to issue the 10 BEOCABSA corresponding to the 10 blocks of OCABSA provided for under the contract.

The characteristics of the OCABSA and the ongoing monitoring of the creation of the new shares resulting from the OCA conversions or the exercise of the BSA for each block of OCABSA will be the subject of a tab that will be updated systematically on the DELTA DRONE website (www.deltadrone.com).

Concerning this contribution of one million euros in new financial resources, Christian Viguié, Chairman and CEO of the Group, said, “the exercise by YA GLOBAL MASTER SPV Ltd of one block of OCABSA is part of the normal process resulting from the contract signed in February 2015 and approved by the extraordinary shareholders’ meeting on 21 May 2015. The transaction allows us to increase our available cash.”

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 the Ecole Française du Drone, a subsidiary of the Group.

Delta Drone is listed on the Alternext market of Euronext Paris. ISIN code: FR0011522168.
www.deltadrone.com

Contacts : Jérôme Gacoin
01 75 77 54 65

Download the September 8, 2016 press release

 

i Cf. press release of 24 March 2015

ii Cf. press release of 21 May 2015

Validez pour rechercher ou Echap pour quitter