delta-drone and volatus Aerospace
declare null and void their agreement signed on March 4, 2022
DardillyApril 25, 2022 at 8 am
Forfeiture of volatus Aeronautical Agreement / Delta Drone
After several weeks of constructive exchanges which confirmed the significant commercial potential that exists thanks to the pooling of resources, and while the condition precedent linked to the prior authorization of the Ministry of Economy and Finance (under the control of the foreign investments) is still under investigation, Delta Drone and Volatus Aerospace have decided by mutual agreement to interrupt their discussions according to the terms provided for in the agreement signed on March 4, 2022.
As a result, the deadline of April 30, 2022, which was contractually agreed to lead to the signing of a definitive agreement, has expired, with each party regaining full freedom of maneuver 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 avenues for future cooperation, in particular for the marketing of each other’s products in their areas of operation. respective influences.
The positive effects of these strategic discussions
The draft agreement provided for the implementation of a plan to reduce operating expenses by approximately 2 million euros over a full year. This plan remains valid, it started at 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 have its full effect on the 2023 financial year.
The exchanges also made it possible to better understand the strong capacity for valuation and monetization of several assets held by Delta Drone Group, and the attractiveness they enjoy for potential buyers. These assets, patiently built over time, are consistent with the Group’s vision without being at the heart of the strategy.
Thus, and in order to respond to shareholders’ legitimate concerns about the dilutive financing methods used so far, some could be partially or totally sold during the year, so as to provide the group with substantial, probably sufficient, alternative financial resources. to achieve the objective of a positive structural cash position. Various projects are already under consideration.
Finally, the decision to combine Delta Drone shares (see press release of April 19, 2019) is part of the same logic to support a new stock market dynamic, in line with the maturity of the Group.
About DeltaDrone: 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.
The Delta Drone share is listed on the Euronext Growth Paris market – ISIN Code: FR0011522168
BSA Y – ISIN coded : FR 0013400991
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