Horizon acquired 9.59% stake in Parrot

Horizon, entity wholly-owned by M. Henri Seydoux and his family, and controlling shareholder of Parrot with 36.10% of its share capital and 36.91% of voting rights, announces the signing of a share purchase agreement with a shareholder owning 9.59% of Parrot share capital, for a price of EUR 3.20 per share. Following this acquisition, Horizon will own 45.69% of the share capital and 46.71% of voting rights of Parrot. Horizon plans to file with the Autorité des Marchés Financiers, as soon as reasonably practicable, a public tender offer for the Parrot shares it does not already own, at the same price of EUR 3.20 per share. This offer will also target share warrants, at a price which shall reflect the price offered for existing Parrot shares. The offer on existing shares would result in a premium of 94.2% over Parrot closing share price as of 26 November 2018.