Brief: Parrot MiCasense’s Proposed Sale To Ageagle Aerial Systems Inc.

Parrot SA

27/01/2021 09:15

Jan 27 (Reuters) - PARROT SA  PARRO.PA :
    * REG-PARROT : MICASENSE’S PROPOSED SALE TO AGEAGLE AERIAL
SYSTEMS
INC.
    * MICASENSE, PARROT GROUP'S SMALLEST SUBSIDIARY WILL BE SOLD
TO
AGEAGLE AERIAL SYSTEMS, A DATA COLLECTION, ANALYTICS, AERIAL
IMAGING SERVICES AND DRONE COMPANY, FOR A TOTAL OF $23M
    * IFRS 5 "NON-CURRENT ASSETS HELD FOR SALE AND DISCONTINUED
OPERATIONS" WOULD BE APPLIED FOR PARROT GROUP'S CONSOLIDATED
ACCOUNTS FOR 2020, TO BE PUBLISHED IN MARCH 2021.
    * THIS TRANSACTION, WHICH COULD TAKE PLACE OVER COMING DAYS,
IS
BASED ON PAYMENT OF NEARLY $15.0M IN CASH AND EQUIVALENT OF $3M
OF AGEAGLE SYSTEMS SHARES, LISTED ON NYSE AMERICAN, DURING FIRST
HALF OF 2021
    * THIS TRANSACTION WILL BE FOLLOWED BY ABOUT $5M SPREAD
BETWEEN
START OF 2022 AND START OF 2023 IN ACCORDANCE WITH GUARANTEES
GIVEN FOR SALE.

Source text for Eikon:  ID:nGNEbc7bL0 
Further company coverage:  PARRO.PA 

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