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The Extraordinary General Shareholders’ Meeting of 22 December 2016 marks a new phase in the Group’s development plan

Delta Drone held an Extraordinary General Shareholders’ meeting today pursuant to a second notice of meeting. 5,401,881 shares representing 20.62% of the total number of shares were present or represented, corresponding to 6,170,107 votes, taking into account the double voting rights attached to certain shares held in registered form for over two years.

It adopted – by qualified majority of the shareholders present or represented – the main resolution concerning the OCABSA contract entered into on 27 October 2016 with the YA II CD Ltd. investment fund.

This third OCABSA contract represents a potential amount of €50M and its characteristics were the subject of a detailed press release dated 27 October 2016.

Theoretical future impact of the issuance of the OCABSA

The charts below recall, for information purposes only, the impact of the conversion of all the OCA and the exercise of all the BSA that might be issued pursuant to the delegation of authority to the Board of Directors in accordance with the first resolution adopted by the Extraordinary General Shareholders’ meeting today, as set forth in the aforementioned press release:

Theoretical future impact of the issuance of the OCABSA upon exercise of the Warrants (based on the lowest of the ten (10) average volume-weighted daily prices of the Delta Drone share (as released by Bloomberg) preceding 27 October 2016, i.e., 1.0958 euros)

As a general indication only, the impact of issuing all of the OCABSA (for a total par amount of 25 million euros) would be as described below. This dilution does not assume either the final number of shares to be issued or their issue price, which shall be set based on the trading price as described above.

Effect of the issuance on the consolidated net assets per share (based on the consolidated shareholders’ equity (Group share) as at 30 June 2016 and the number of shares making up Delta Drone’s share capital as at 27 October 2016 (i.e., 24,508,331 shares)

Consolidated net assets per share (in euros)
1st blockTotal
 

 

Before issue

 

 

€0.41

 

After issue of a maximum of 1,962,527 shares (1st block) or 24,531,593 shares (all blocks), new ordinary shares resulting from the conversion of the OCA:

 

 

€0.44

 

 

€0.68

After issue of a maximum of 3,622,278 shares (1st block) or 45,278,480 shares (all blocks), new ordinary shares resulting from the conversion of the OCA and the exercise of the BSA: 

 

€0.49

 

 

€0.83

Effect of the issue on the shareholders’ situation

Shareholder stake
1st blockTotal
 

 

Before issue

 

 

1%

 

After issue of a maximum of 1,962,527 shares (1st block) or 24,531,593 shares (all blocks), new ordinary shares resulting from the conversion of the OCA:

 

 

0.93%

 

 

0.50%

After issue of a maximum of 3,622,278 shares (1st block) or 45,278,480 shares (all blocks), new ordinary shares resulting from the conversion of the OCA and the exercise of the BSA: 

 

0.93%

 

 

0.35%

In application of the first resolution passed by the Extraordinary General Shareholders’ meeting, the Board of Directors met today and approved the issue of 2,500 OCABSA warrants.

 

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.

www.deltadrone.com

Contact : Aélium

Jérôme Gacoin
01 75 77 54 65

Download the December 22, 2016 press release

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