Bigben Interactive Seeks Amicable Conciliation Procedure
On February 25, 2026, Bigben Interactive announced the filing of a request for the initiation of an amicable conciliation procedure with the Court. This move came after the unexpected and late refusal by its banking syndicate to proceed with a drawdown notice as part of the partial refinancing of its convertible bonds into Nacon ordinary shares.
Banking Syndicate Refusal
On February 17 and 20, 2026, Bigben Interactive announced that its banking syndicate had refused to proceed with the drawdown notice issued for the partial refinancing of its existing convertible bonds into Nacon ordinary shares. This refusal left the Company unable to proceed with the partial repayment of the outstanding bonds originally scheduled for February 19, 2026. Faced with this situation, the Company considered resorting to procedures aimed at facilitating the restructuring of its debt.
Filing for Conciliation Procedure
Bigben Interactive filed a request on February 25, 2026, for the initiation of an amicable conciliation procedure with the President of the Court. This procedure aims to allow the Company, under the guidance of a conciliator, to engage in discussions with its financial creditors, particularly bond creditors and banking creditors, regarding the restructuring of its financial debt and, if necessary, the obtaining of new financial resources. The procedure exclusively concerns the financial debt of the legal entity Bigben Interactive (mainly the bond debt) and does not involve operational creditors such as suppliers. The Company specified that this measure will not impact operations, employees, or customers, and that it will be able to continue its activities.
Suspension of Financial Securities
The suspension of the trading of financial securities issued by the Company (shares and bonds), announced on February 20, 2026, is maintained. Bigben Interactive specifies that its main asset is its majority stake in the capital of Nacon, of which it holds 56.72% of the share capital and 65.79% of the voting rights. However, Nacon announced on February 25, 2026, that it was filing for bankruptcy and seeking the initiation of a judicial recovery procedure with the Court. With Nacon's share price suspended pending the Court's decision expected in early March 2026, the trading of Bigben Interactive's financial securities remains suspended for the duration of Nacon's share suspension. The approval of the request for the initiation of a conciliation procedure is subject to the decision of the President of the Court, expected in the coming days. Bigben Interactive will inform the market as the situation evolves and the procedure progresses.
