The investor group led by Diede van den Ouden has also decided not to enter a trust. Instead, the two companies have decided to manage this process themselves so as to reduce costs and demonstrate their firm commitment to the company’s new strategy. The transaction modifies the information communicated on 5 June 2023 whereby OTT HERITAGE and COURCELETTE HOLDINGS were to put their receivable into a trust to manage the conversion and sale of shares. The Board of Directors thus implemented the delegation provided for in the Tenth Resolution approved at the Combined General Shareholders' Meeting of 27 January 2023. This confirms the confidence of OTT HERITAGE and COURCELETTE HOLDINGS, associated with Jean-François Ott and Brad Taylor, in the recovery prospects of Delta Drone, whose rapid transformation is now being led by a renewed management team. The creditor companies OTT HERITAGE and COURCELETTE HOLDINGS thus hold liquid and payable receivables on Delta Drone totalling €2,240,000 and have expressed their wish to have this receivable partially converted into Company shares. For the latter transaction, the two companies granted seller financing covering the entire initial price and conditional price supplements. The transaction is part of Delta Drone’s acquisition on 5 June 2023 of 100% of the shares of TONNER DRONES from OTT HERITAGE and COURCELETTE HOLDINGS. The price of the new shares is 25% higher than the average price of the last ten days. In financial terms, the Board of Directors decided, at the request of OTT HERITAGE and COURCELETTE HOLDINGS, to repay part of Delta Drone's debt to the two companies through the reserved issue of 300,000 new shares at a price of €2.50, 270,000 for OTT HERITAGE and 30,000 for COURCELETTE HOLDINGS. OTT HERITAGE and COURCELETTE HOLDINGS take a 32% stake at €2.50 per share Meeting on 1 7 August 2023, the Board of Directors of Delta Drone (FR001400H2X4 ALDR), a renowned international player in the drone sector in the growing military and homeland security markets, approved a number of key decisions consistent with the transformation initiated by the Company to quickly return to a solid performance trajectory. OTT Heritage and Courcelette Holdings become reference shareholders with 32% of the share capital
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