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Subscription of the last 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 30 January 2017, at its own initiative, of the tenth and last warrants (BEOCABSA) for convertible notes (OCA) with warrants attached (BSA) (OCA and BSA together are the OCABSA), resulting in the subscription, on 30 January 2017, by YA GLOBAL MASTER SPV Ltd of the tenth 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 915,750 BSA having an exercise price of 1.092 euros.

The theoretical future impact of the conversion of all of the OCA and the exercise of all of the BSA resulting from the tenth 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 *
Before the issue of a maximum of 1,998,850 (tenth block) new shares resulting from (i) the conversion of the 100 OCA and (ii) the exercise of the 915,750 BSA€0.35
After the issue of a maximum of 1,998,850 (tenth block) new shares resulting from (i) the conversion of the 100 OCA and (ii) the exercise of the 915,750 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 30 January 2017 (i.e., €0.9927), on the basis of the current number of shares and Delta Drone’s consolidated net assets as at 30 June 2016 (i.e., €9.934k)

  • Impact of the issue on the shareholders’ position
Shareholder stake*
Before the issue of a maximum of 1,998,850 new shares resulting from (i) the conversion of the 100 OCA and (ii) the exercise of the 915,750 BSA1.00%
After the issue of a maximum of 1,998,850 new shares resulting from (i) the conversion of the 100 OCA and (ii) the exercise of the 915,750 BSA0.93%

* These calculations have been made based on the lowest of the Volume Weighted Average Price observed for the five trading days prior to 30 January 2017 (i.e., €0.9927) 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 2015[i] and approved by the ordinary and extraordinary general shareholders’ meeting of 21 May 2015[ii]. 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).

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

Contact : Aélium

Jérôme Gacoin
01 75 77 54 65

Download the January 30, 2017 press release

[i] Cf. press release of 24 March 2015

[ii] Cf. press release of 21 May 2015

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