| PRESS RELEASE Paris, 27 November 2018, 22h00 CET |
Project of public tender offer by Horizon over Parrot share capital
Parrot has been informed of the announcement of the project of Horizon, entity wholly-owned by Henri Seydoux and his family, and Parrot's controlling shareholder with 45.69% of its share capital and 46.71% of its voting rights[1], to file a tender offer at a price of EUR 3.20 per share[2].
Henri Seydoux is the CEO of Parrot, which he founded in 1994.
Parrot will call for a meeting of its board of directors by the end of the week to review the project, and notably, as required by the regulation, appoint an independent expert in order to review on the financial conditions of the offer.
Disclaimer:
This press release is not an offer to purchase securities. The offer will be made only pursuant to the offer documentation which will contain the full terms and conditions of the offer. The offer documentation will be subject to review by the AMF and the offer will only be opened once the AMF has granted its clearance. Any decision in respect of the offer should be made only on the basis of the information contained in such offer documentation.
This press release was prepared for informational purpose only. The diffusion of this press release, the offer and its acceptance may be subject to specific regulations or restrictions in certain countries. The offer is not made for persons subject to such restrictions, neither directly nor indirectly, and may not be accepted in any way from a country where the offer would be subject to such restrictions. Consequently, persons in possession of this press release shall inquire about potential applicable local restrictions and comply with them.
Parrot excludes all liability in the event of any breach of the applicable legal restrictions by any person.
ABOUT PARROT
Founded in 1994 by Henri Seydoux, Parrot is today the leading European group in the fast-growing industry of drones. Visionary, at the forefront of innovation, Parrot is the only group to be positioned across the entire value chain, from equipment to services and software.
- Parrot, the world's number 2 of the consumer drone market, designs drones known for their high performance and ease of use.
- Parrot has a portfolio of outstanding companies and interests in commercial drones, covering equipment, software and services. Its expert capabilities are focused primarily on three vertical markets: (i) Agriculture, (ii) 3D Mapping, Surveying and Inspection, and (iii) Defense and Security.
The Parrot Group designs and engineers its products in Europe, mainly in France and Switzerland. It currently employs 600 people worldwide and makes the majority of its sales outside of France. Parrot, headquartered in Paris, has been listed since 2006 on Euronext Paris (FR0004038263 - PARRO). For more information: www.parrot.com
CONTACTS
| Investors, analysts, financial media Marie Calleux - T. : +33(0) 1 48 03 60 60 parrot@calyptus.net | Consumer and tech media Fabien Laxague - T. : +33(0) 1 48 03 60 60 fabien.laxague@parrot.com |
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