Winamp Group Recognizes €643,729 in Debt to Maxximum, Its Reference Shareholder
On October 23, 2026, Winamp Group indicated that its reference shareholder, Maxximum, had twice repurchased bonds issued by the group from Hexagon Capital Fund, paying for them with Winamp Group shares it held. This mechanism converts part of the bond debt into a commitment to the reference shareholder, repayable in cash or shares.
Three Tranches Subscribed by HCF, Two Tranches Repurchased by Maxximum
The new subscriptions are part of the financing agreement for a maximum amount of 2 million euros announced on September 18, 2025. Hexagon Capital Fund subscribed to three bond tranches of 300,000, 100,000 and 275,000 euros during August and September 2026. These subscriptions followed a first transaction made public on August 7, 2026: Maxximum had repurchased from HCF the bonds of the second tranche, with an initial amount of 250,000 euros, subscribed in November 2025.
Maxximum subsequently repurchased the bonds of the third tranche, with an initial amount of 300,000 euros. In both cases, the reference shareholder acquired these securities in exchange for transferring Winamp Group shares it already held to HCF, which resulted in the extinction of the corresponding claims of HCF on the group.
According to the company, these transactions enabled it to settle the bonds in question without drawing on its cash and to continue accessing HCF financing. The group indicates that they helped preserve its liquidity in a context it describes as marked by significant financing needs.
Two 24-Month Agreements at 8% Concluded with Maxximum
To formalize its new obligations to its reference shareholder, Winamp Group finalized the terms of two financing and debt recognition agreements with Maxximum. Their cumulative principal amount stands at €643,729.07, equal to the contractual value of Winamp Group shares transferred by Maxximum to HCF during the two transactions. The company specifies that this amount does not constitute an additional cash contribution.
The agreements have a duration of 24 months, carry a fixed interest rate of 8% per annum and do not provide for periodic repayment of principal. At maturity, Winamp Group may choose to settle the amounts due in cash or shares.
Maxximum may for its part request early repayment, in whole or in part, exclusively in Winamp Group shares, subject to applicable legal and statutory authorizations.
2,113,076 Shares in Case of Full Repayment in Securities
A full repayment of principal in shares would correspond to 2,113,076 ordinary shares, excluding securities that may be issued or delivered in respect of accrued interest. According to the company's simulation, a shareholder holding 1.00% of the capital before the transaction would hold 0.92% after the issuance of these new shares. The total number of securities would then increase from 24,465,001, the capital base as of February 23, 2026, to 26,578,077.
On the same assumption, shareholders' equity per share would decrease from €0.79 to €0.75. This calculation is based on shareholders' equity of €19,328,672 as of December 31, 2025 and assumes the recognition of the entire principal in shareholders' equity, excluding accrued interest. The agreements also provide for the possibility of repayment by delivery of existing treasury shares, subject to legal requirements.
Winamp Group will publish its results for the first half of 2026 on October 31, 2026.
