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Subscription of 500 bonds convertible into new ordinary shares (€10,000 each) with attached warrants pursuant to the OCABSA agreement entered into in October 2016

  • The 2017 financial year should be a milestone in the Group’s development strategy. After only two months, Delta Drone has finalized two external growth transactions that are key to the Group’s structure (Rocketmine in South Africa and Techni Drone in France) and will contribute significantly to this year’s consolidated revenue. In terms of organic growth, the development of the antenna-inspection activity with Orange, the pursuit of the warehouse inventory project with Géodis, the launch of the Farmstar campaign with Airbus DS and Arvalis, and being chosen as a partner by Eurovia are also sources for significant revenue growth.

    Simultaneously, the drone sector is undergoing profound change worldwide, with many established players running out of financial resources. This situation provides us with many opportunities to acquire new expertise under our international umbrella.

    It is in this context that Delta Drone announces that, on 24 February 2017, YA II CD Ltd exercised five hundred (500) warrants (BEOCABSA) for the issuance of bonds convertible into shares (OCA) with attached warrants (BSA) (the OCA and BSA together are the OCABSA), resulting in YA II CD Ltd subscribing, on 24 February 2017, for five hundred (500) OCABSA pursuant to the agreement, corresponding to the issue of 500 OCA with a face value of 10,000 euros each, representing a bond issue of 5,000,000 euros with 4,284,490 BSA having an exercise price of 1.167 euro.

    The theoretical future impact of the conversion of all the OCA and the exercise of all the BSA resulting from the 500 OCABSA on the consolidated net assets per share and the shareholder stake is set forth in the charts below:

    • Impact of the issuance on the consolidated net assets per share

Consolidated net assets per share*
Before issue of a maximum of 9,349,990 new shares resulting (i) from the conversion of the 500 OCA and (ii) the exercise of the 4.284.490 BSA :0,35 €
After issue of a maximum of 9,349,990 new shares resulting (i) from the conversion of the 500 OCA and (ii) the exercise of the  4.284.490 BSA :0,52 €

*These calculations are based on the lowest of the five average volume-weighted daily share prices preceding 24 February 2017 (i.e., €1.0613 ), on the current number of shares and on Delta Drone’s consolidated net assets per share as at 30 June 2016 (i.e., €9,934k)

• Impact of the issuance on the shareholders’ situation

Shareholder stake*
Before issue of a maximum of 9,349,990 new shares resulting (i) from the conversion of the 500 OCA and (ii) the exercise of the 4.284.490 BSA :1,00 %
After issue of a maximum of 9,349,990 new shares resulting (i) from the conversion of the 500 OCA and (ii) the exercise of the 4,284,490 BSA:0,75 %

* These calculations are based on the lowest of the five average volume-weighted daily share prices preceding 24 February 2017 (i.e., €1.0613 ) and on the current number of shares

This transaction falls under the scope of the OCABSA agreement entered into between DELTA DRONE and YA II CD Ltd in October 2016i and approved by the Extraordinary General Shareholders’ Meeting of 22 December 2016ii. On the same day, the Board of Directors decided to issue 2,500 BEOCABSA.

The characteristics of the OCABSA and the ongoing monitoring of the creation of new shares resulting from OCA conversions or the exercise of BSA are the subject of a tab that is routinely updated and available on the DELTA DRONE website (www.deltadrone.com).

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

[i] See press release dated 28 October 2016

[ii] See press release dated 29 December 2016

Contact : Aélium

Jérôme Gacoin
01 75 77 54 65

www.deltadrone.com

Download the February 27, 2017 press release

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