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31.03.2025 08:05:00
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Tonner Drones retains its stake in Elistair
Schiltigheim, March 31th 2025 08:00, Tonner Drones (’the Company’) is pleased to announce that it was able to agree on a final amendment to the settlement contract with former management to hold its original number of 11,4% Elistair shares.
In September 2024 Tonner Drones and former management decided to split ways. At that moment, the cash position of the company was low, and it was decided to sell 50% of its stake in Elistair to Ott Heritage and Bradley Taylor in exchange for €800.000 in receivables they had against the company.
Today, Tonner Drones has a strong cash position and, in the meantime, the transfer of shares of Elistair was not yet finalized. This opened up an opportunity to unwind the transaction. Tonner drones will pay €471,463 and will keep its original stake of 11,4% of the shares in French Drone-company Elistair. With this payment the Settlement Agreement has been fully finalized.
Management was able to make the decision to keep the stake of Elistair with Tonner Drones because the cash position (cash equivalents included) of the Company after this transaction remains strong at more than €1.500.000 at the end of March.
"I’m excited that we were able to reach this agreement” Diede van den Ouden, CEO, said. "It is good to see that we can close things from the past more and more. The time of intensive restructuring is over, we are now working towards a promising future.”
[End of Press-Release]
About Tonner Drones: Tonner Drones develops technologies for the logistics sector. Tonner Drones holds valuable stakes in some promising French drone manufacturers like Elistair and Donecle. Tonner Drones’ strategy is to increase the value of its shareholdings in these companies through active asset management. Additional revenues can be achieved through royalties from patents held by Tonner Drones. Tonner Drones does not plan on owning a factory; however, it is determined to retain R&D for its products and systems in France.
Tonner Drones’ shares are listed on Euronext Growth Paris (ISIN code: FR001400H2X4).
More information at www.tonnerdrones.com / contact@tonnerdrones.com
Warning
Regarding the merits of any transaction or the making of any investment decision. It does not constitute or include any confirmation or commitment by Tonner Drones (or any other person) regarding the present or future value of Tonner Drones ' business, its securities, its subsidiaries or any other assets of Tonner Drones .
This press release contains forward-looking statements based on current beliefs and expectations regarding future events. These forward-looking statements may include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and/or expectations regarding future financial results, events, operations and services. and product development, as well as statements regarding performance or events. These statements are generally identified by the terms "expect", "anticipate", "believe", "intend", "estimate", "plan", "project", "may", "should" or the negative form of these and other similar expressions. These statements are not guarantees of future performance and are subject to inherent risks, uncertainties and assumptions regarding Tonner Drones and its subsidiaries and investments, trends in their businesses, future capital expenditures and acquisitions, developments relating to contingent liabilities, changes in global economic conditions or Tonner Drones ' principal markets, competitive market conditions and regulatory factors. The realization of these events is uncertain; their outcome could turn out to be different from that envisaged today, which is likely to significantly affect the expected results. Actual results may differ materially from those anticipated or implied in these forward-looking statements. Any forward-looking statements contained in this press release are made as of the date of this press release. Except as required by applicable law, Tonner Drones undertakes no obligation to revise or update any forward-looking statements, taking into account new information or future events.
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