Brief: Delta Drone: Volatus Aerospace To Acquire 45% Stake In Delta Drone In Two Stages

Tonner Drones SA

04/03/2022 06:16

March 4 (Reuters) - Delta Drone SA  ALDR.PA :
    * ANNOUNCES SIGNING OF AN AGREEMENT WITH VOLATUS AEROSPACE
CORP TO
FORM A LEADING GLOBAL LEADING GLOBAL DRONE INDUSTRY GROUP
    * VOLATUS WILL INVEST IN TWO STAGES, TO HOLD INITIALLY C.20%
OF
SHARE CAPITAL AND VOTING BY 30 APRIL 2022 AT THE LATEST AND
SECONDLY C. 45% OF SHARE CAPITAL AND VOTING RIGHTS
    * SECOND STAGE OF INVESTMENT BY MAY 15 2022 AT LATEST
    * A NEW GOVERNANCE STRUCTURE WILL BE PUT IN PLACE WITHIN
DELTA
DRONE AT THE DATE OF COMPLETION OF THE FIRST INVESTMENT
    * TWO REPRESENTATIVES OF VOLATUS WILL BE APPOINTED AS
DIRECTORS OF
DELTA DRONE TO REPLACE TWO RESIGNING DIRECTORS AND THE FUNCTIONS
OF CHAIRMAN AND CHIEF EXECUTIVE OFFICER WILL BE DISSOCIATED
    * GLEN LYNCH, CHAIRMAN AND CEO OF VOLATUS, TO BE APPOINTED
EXECUTIVE CHAIRMAN OF DELTA DRONE, AND CHRISTIAN VIGUIÉ, CURRENT
CHAIRMAN AND CEO OF DELTA DRONE, TO CONTINUE AS CEO

Source text for Eikon:  ID:nGNE42jb3c 
Further company coverage:  ALDR.PA 

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