Brief: Delta Drone International To Buy Australia's Arvista Pty Ltd

Tonner Drones SA

16/08/2021 17:08

Aug 16 (Reuters) - Delta Drone SA  ALDR.PA :
    * REG-DELTA DRONE INTERNATIONAL TO EXPAND ITS AUSTRALIAN
DRONE-BASED SERVICES THROUGH ACQUISITION OF ARVISTA PTY LTD
    * TO INITIALLY ACQUIRE 60% OF ARVISTA FOR A PURCHASE PRICE
OF
AROUND $960,00 (BASED ON AN ENTERPRISE VALUE OF $1.6 MILLION),
IN A COMBINATION OF CASH AND SCRIP
    * CALL OPTION TO ACQUIRE REMAINING 40% OF ARVISTA IN FUTURE
    * ACQUISITION OF 60% OF SHARES IN ARVISTA IS EXPECTED TO BE
COMPLETED WITHIN 30 DAYS
    * TRANSACTION IS WELL FUNDED FROM OUR CASH RESERVES AND IS
EXPECTED TO BE EARNINGS ACCRETIVE AND TO PROVIDE FOUNDATION FOR
DELTA DRONE INTERNATIONAL TO ACHIEVE GROWTH IN FY22
    * PURCHASE PRICE FOR 60% OF SHARES BEING PURCHASED BY DLT
(INITIAL
TRANSACTION) IS TO BE PAID AS FOLLOWS: $300,000 IN CASH
    * 9,600,000 NEW SHARES IN DLT, TO BE ISSUED AT COMPLETION,
AT A
DEEMED ISSUE PRICE OF $0.04 PER SHARE
    * THESE SHARES WILL BE ESCROWED FOR A PERIOD OF 24 MONTHS
POST
COMPLETION
    * $276,000 IN CASH (OUT OF DLT'S EXISTING CASH RESERVES), TO
BE
PAID WITHIN ONE MONTH AFTER DLT RELEASES ITS FY21 ANNUAL REPORT
TO ASX
    * IF PRIOR TO 2ND PAYMENT, DLT CONDUCTS EQUITY CAPITAL
RAISING
UNDER WHICH IT RAISES AT LEAST $1.5 MILLION VIA ISSUE OF DLT
SHARES AT PRICE THAT IS LESS THAN $0.04 PER SHARE (NEW CAPITAL
RAISING PRICE), $384,000 WORTH OF DLT SHARES AT NEW CAPITAL
RAISING PRICE MINUS NUMBER OF SHARES ALREADY ISSUED TO SELLERS
AT COMPLETION

Source text for Eikon:  ID:nGNE49lsnv 
Further company coverage:  ALDR.PA 

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