Judicial Reorganization Proceedings at NACON

NACON, a company listed on Euronext Paris, is undergoing receivership proceedings initiated on March 2, 2026, by the Lille Métropole Commercial Court. This observation period will continue until March 2, 2027. In this context, NACON is developing a recovery plan that includes restructuring its liabilities, with the assistance of advisors and court-appointed administrators.

Bigben Interactive, the majority shareholder of NACON, is also undergoing accelerated safeguard proceedings, which is impacting the financial restructuring negotiations. The restructuring agreement is based on a capital increase, a debt conversion, and the write-off of intercompany receivables.

The impact of this proposed restructuring would reduce NACON's liabilities by approximately 134 million euros, but would result in significant dilution for pre-existing shareholders.