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2018-06-13 08:05 CEST
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PARROT : Description of the Share Buyback Program

  REGULATED INFORMATION
Paris, June 13th, 2018 at 8:00 am

Description of the Share Buyback Program

Description of the share buyback program implemented by the Board of Directors
as authorized by the Combined General Meeting on June 12, 2018.

This document has been drawn up in accordance with the provisions of Articles 241-2 of the General Regulations
issued by the French securities regulator (Autorité des marchés financiers, AMF).

Date of the General Shareholders' Meeting having authorized the buyback program

Authorization granted at the General Shareholders' Meeting on June 12, 2018 in its 12th resolution.

Portion of the capital held by the Company and objective-based breakdown of capital securities held by the Company at the date of the authorization

To date, the Company holds 2,42% of its capital, representing a total of 730 131 shares allocated as follows.

Number of shares at June 12, 2018 Allocation
24 660 Liquidity agreement
705 471 Allocation of stock options and/or bonus shares to Company or Group staff or corporate officers and/or capital reduction

Objectives of the present share buyback program

The shares bought back may be used with a view to:

  • Continue to implement the liquidity agreement;
  • Allocate stock options and/or bonus shares and/or any other allocable shares;
  • Buy shares for retention and subsequent exchange, in payment or otherwise, in connection with acquisitions;
  • Reduce the Company's capital.

Maximum percentage of the capital, maximum number and characteristics of securities that the Company could propose to buy and maximum purchase price

  • Characteristics of securities concerned by the share buyback program: ordinary shares listed on Euronext Eurolist B under ticker PARRO, ISIN FR0004038263;
  • Maximum purchase price: 40.00 euros;
  • Maximum total amount: 48,000,000 euros;
  • Maximum number of securities that may be acquired: 3,017,467;
  • Percentage of the capital: 10% at June 12, 2018

Duration of the program

18 months from the General Meeting on June 12, 2018, i.e. through December 11, 2019 included.

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 a real 'End to End' drone group from hardware and software to services.
Parrot, the world's number 2 of the consumer drone market, designs drones known for their high performance and ease of use.
Parrot is also offering business solutions, covering drones, software and services mainly focusing on 3 major verticals: (i) Agriculture, (ii) 3D Mapping, Surveying and Inspection and (iii) Public safety.
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
Tech & consumer media
Vanessa Loury - T: +33(0) 1 48 03 60 60
vanessa.loury@parrot.com
HUG#2199006