Delta Drone and Volatus Aerospace declare the lapse of their agreement signed on 4 March 2022
April 25 2022 - 2:00AM
Delta Drone and Volatus Aerospace declare the lapse of their
agreement signed on 4 March 2022
Delta Drone and
Volatus Aerospacedeclare
the lapse of their agreement signed on 4 March 2022
Dardilly, April 25, 2022 at 8am
Lapse of the
Volatus Aerospace / Delta Drone
agreement
After several weeks of constructive exchanges
that confirmed the significant commercial potential that exists
thanks to the pooling of resources, and while the condition
precedent related to the prior authorization of the French Ministry
of Economy and Finance (under the control of foreign investments)
is still under investigation, Delta Drone and Volatus Aerospace
have decided by mutual agreement to interrupt their discussions
according to the terms set out in the agreement signed on March 4,
2022.
As a result, the deadline of 30 April 2022,
which was contractually agreed to lead to the signing of a final
agreement, has lapsed, with each party regaining its full freedom
of manoeuvre as of today.
However, Delta Drone and Volatus Aerospace are
determined to capitalize on their first exchanges by deciding to
maintain a friendly and regular relationship to explore the ways of
future cooperation, especially for the marketing of each other's
products in their respective areas of influence.
The positive effects of these strategic
discussions
The draft agreement included the implementation
of a plan to reduce operating expenses by approximately €2 million
in a full year. This plan remains relevant, it has started since
the beginning of April and will be fully implemented before the end
of this year. Its impact will be visible from the 2022 accounts,
even if it will produce its full effect on the 2023 financial
year.
The discussions also provided a better
understanding of the strong valuation and monetization capacity of
several assets held by the Delta Drone Group, and the attraction
they enjoy with potential buyers. These assets, patiently built up
over time, are consistent with the Group's vision without being at
the heart of the strategy.
Therefore, and in order to address shareholders'
legitimate concerns about the dilutive financing methods used so
far, some could be partially or totally divested during the year,
so as to provide the group with substantial alternative financial
resources, probably sufficient to achieve the objective of a
positive structural cash flow situation. Various projects are
already being studied.
Finally, the decision to consolidate Delta Drone
shares (see press release of 19 April 2019) is part of the same
logic to support a new stock market dynamic, in line with the
Group's maturity.
About Delta Drone: Delta Drone
Group is a recognized international player in the field of civilian
drones for professional use. It develops a range of professional
solutions based on drone technology as well as all associated
services that form a complete value chain.Delta Drone shares are
listed on the Euronext Growth Paris market – ISIN code:
FR0011522168 BSA Y – ISIN code : FR
0013400991www.deltadrone.com
Investor
contacts: Press
contact:
Jérôme Gacoin |
Marie-Laure Laville |
+33 1 75 77 54
65 |
+33 1 55 02 15 13 |
jgacoin@aelium.fr |
ml.laville@open2europe.comSarah Ousahla+33 1 55 02 15
31s.ousahla@open2europe.com |