Delta Drone and Volatus Aerospace Declare Lapse Of Their Agreement, Delta Drone shares crash

Tonner Drones SA

25/04/2022 08:32

** Shares in France's Delta Drone  ALDR.PA  slump more than
18% after announcing the lapse of the deal it had signed with
Volatus Aerospace in March  urn:newsml:reuters.com:*:nFWN2WM03G
    ** Last month, the two companies had signed an agreement to
form a leading drone industry group, with Volatus expected to
invest in two stages  urn:newsml:reuters.com:*:nFWN2V62NP
    ** As a result, the deadline of April 30 has lapsed, the
French company said, "with each party regaining its full freedom
of manoeuvre as of today"
    ** The two groups are, however, determined to capitalise on
their first exchanges and maintain a friendly and regular
relationship, Delta Drone added
    ** Delta Drone stock is down by 55% year-to-date

 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))