Delta Drone and PDT – Public Display Technologies (PTY) Ltd have entered into an exclusive agreement with a view of Delta Drone to acquire sole ownership of ROCKETMINE, a subsidiary of PDT based in Johannesburg and main operator of civilian drones for professional use in South Africa, particularly in the mining sector.
Made up of 10 employees, including six drone pilots, ROCKETMINE began its activities once the regulations were passed concerning civilian drones in South Africa, as one of the very few companies licensed to do so. First simply a branch of PDT, ROCKETMINE quickly entered into several commercial contracts with mining groups for assignments – most often permanent on-site assignments – at various mining sites. Thanks to this early success, PDT spun off ROCKETMINE, allowing it to develop independently as a subsidiary as of 2016.
For the current financial year (closing at the end of February 2017), the company expects to generate revenue exceeding 10 million South African Rand (approximately €600K) as well as show a positive result.
For Cornel Van Lingen, General Manager of PDT, “ROCKETMINE’s affiliation with DELTA DRONE is a great opportunity to have the means necessary to accelerate growth in South Africa and throughout southern Africa. There is vast potential for business throughout the continent and ROCKETMINE has been able to establish itself as a trusted contender that is well-known for solutions with civilian drones for professional use. Furthermore, the DELTA DRONE Group will provide ROCKETMINE with, in addition to larger financial means, its expertise in pilot training and security management for assignments.”
For Christian Viguié, Chairman and CEO of DELTA DRONE, “the acquisition of ROCKETMINE represents a major turning point in the Group’s international development strategy. Thanks to ROCKETMINE, we will have a base for the development of all “solutions” activity on the African continent, independently steered by quality managers aware of local culture. This transaction will also allow the DELTA DRONE AFRICA subsidiary to focus its efforts on hardware sales. Finally, there are many synergies between ROCKETMINE and DELTA DRONE, particularly as regards the drone fleet and data processing means.”
Both parties aim to have the transaction completed by the end of July, subject to local regulatory approval and the performance of standard due diligence. The acquisition of 100% of ROCKETMINE’s share capital shall be the result of a share exchange, without requiring the creation of new DELTA DRONE shares. Thus, PDT will receive 500,000 DELTA DRONE shares, which will be previously acquired by DELTA DRONE pursuant its Share Buy-Back Program, essentially from its historical shareholder C2P France (of which Christian Viguié is also Chairman and shareholder at 33.3%).
This transaction, considering the indirect involvement of a corporate officer of DELTA DRONE, will be subject to a statement to the Autorité des Marchés Financiers (AMF) and to the market provided for by the legal and regulatory provisions applicable in such matter.
About Delta Drone: The Delta Drone Group is a renowned player in the field of civilian drones for professional use. It offers a complete service, from data acquisition to data processing through a specifically developed information system, including a supply of professional pilots. These pilots are trained and certified by EFD, a subsidiary of the Group, and local partners.
Delta Drone is listed on the Alternext market of Euronext Paris. ISIN code: FR0011522168.