Tonner Drones Exits Last Variable Pricing Instrument - Seite 2

New measures have also been introduced to limit Fiducie A’s ability to influence the share price through aggressive trading. Fiducie A will be restricted to selling a maximum of 13.5% of the daily volume up to 5M of the daily volume, and 10% after 5M of the daily volume. The maximum number of shares that Fiducie A can sell in one day is capped at 1M.

A final calculation will be made on September 30, 2024, to ensure that Fiducie A has received precisely €1.5M. A maximum payment of €400,0000 in cash will be made to Fiducie A on October 1, 2024, in the event that the proceeds to Fiducie A fall below €1.5M.

If TonnerDrones does not pay all or part of the cash payments to Fiducie A, then Fiducie A will resume exercising BSAE1 to recover the missed cash amount. Nevertheless, TonnerDrones’ intention is to fulfill all cash payments and thereby reduce dilution.

“I’m an investor and have always felt that variable pricing financing instruments are unfair to shareholders. Therefore I decided to make another investment, to enable the Company to buy back this variable pricing instrument from Fiducie A and protect all shareholders, including those who so recently invested in the rights issue (at €0.025) and who are now supporting our mission to rebuild the Company. By repurchasing this variable pricing instrument, the Company lowers its debt so that it can move forward without the pressure of these variable pricing instruments. The Company’s debt is now longer term and therefore does not pressure it anymore. Given the history of DeltaDrone’s catastrophic reliance on these variable pricing instruments, this is a major milestone for Tonner Drones. Management has invested heavily in the Company in both debt and equity. This critical step is essential to regaining confidence from the market and conclusively breaking from the past. The management and board of directors are fully dedicated to continuing to work hard to make the Company successful and create value for our shareholders.” says D.M. van den Ouden, member of the board.

End of press-release.

About Tonner Drones: Tonner Drones (formerly Delta Drone) develops UAVs and associated technologies for the defense and homeland security sectors. Tonner Drones holds valuable stakes in some of France's leading civilian and military drone manufacturers. Tonner Drones’ strategy is to leverage its shareholdings in these companies through active asset management, a private equity fund, and by teaming up with other private equity funds to become a significant industry consolidator. Additional revenues can be achieved through royalties from patents held by Tonner Drones to recognized manufacturers. Tonner Drones does not plan on owning a factory; however, it is determined to retain R&D for its products and systems in France.