PRESS RELEASE: NACON: ACQUISITION OF THE REMAINING CAPITAL OF LUNAR GREAT WALL STUDIOS / ISSUANCE OF NEW SHARES IN CONNECTION WITH THE ACQUISITION OF BIG ANT STUDIOS
September 29 2021 - 2:06PM
PRESS RELEASE: NACON: ACQUISITION OF THE REMAINING CAPITAL OF LUNAR
GREAT WALL STUDIOS / ISSUANCE OF NEW SHARES IN CONNECTION WITH THE
ACQUISITION OF BIG ANT STUDIOS
Press
release
Lesquin, 29 September 2021 18:00hrs
ACQUISITION OF THE
REMAINING CAPITAL
OFLUNAR
GREAT
WALL
STUDIOS
ISSUANCE OF NEW SHARES IN CONNECTION WITH
THE ACQUISITION OF BIG
ANT
STUDIOS
Nacon (the "Company") today
announces that it has reached an agreement with the partners of the
Milan-based Italian video game studio Lunar Great Wall Studios to
acquire 46.85% of the studio's share capital, bringing the
Company's ownership to a 100% shareholding; Nacon has also issued
new shares in connection with the acquisition of the Australian
video game studio Big Ant Studios
-
Acquisition of
100% of
Lunar
Great
Walls
Studios
After acquiring a 43.15% stake in Lunar Great
Wall Studios better known under its trade name "RaceWard Studio" on
July 27, 2019, Nacon had acquired an additional 10.00% on October
19, 2020 from Marco Ponte, founding manager of the studio.
Nacon today announced that it has reached an
agreement with the partners of the video game studio Lunar Great
Wall Studios to acquire the remaining equity from them in order to
increase its ownership to 100% of the studios’ share capital.
Lunar Great Wall Studios developed the RiMs
Racing game for the Nacon Group, a realistic and ambitious
motorcycle racing simulation that introduces many new game
mechanics for the genre.
- Issuance
of new shares in
connection with
the acquisition
of Big Ant Studios
On January 21, 2021, the Company announced the
acquisition of Big Ant Studios, a leading Australian video game
studio in major sports such as rugby, tennis and cricket. As
specified in the terms of the transaction, the acquisition
agreement provided for the payment of earnouts based on performance
criteria to the selling partners.
Given the strong performance of Big Ant Studios,
some of the performance criteria previously established have been
met. The selling partners of Big Ant Studios have decided to
reinvest half of their earn-outs in the capital of the Company.
Thus, the Board of Directors of the Company has
decided today, using the delegation of authority granted to it by
the General Meeting of the Company on July 30, 2021 under the terms
of its 15th resolution and in accordance with the provisions of
article L. 411-2 1° of the French Monetary and Financial Code, an
issue without preferential subscription rights of 337,208 new
ordinary shares of the Company, representing approximately 0.4% of
the existing share capital of the Company, at a price per share of
4.93 euros including the issue premium (the
"Transaction"). The subscription
price for the Transaction does not involve any discount to the
average closing price of Nacon shares over the 20 trading days
preceding its determination.
For Alain Falc, Chairman and CEO of the Company,
"This reinvestment of a portion of their earn-out payment by the
Big Ant Studios selling partners is a sign of their strong support
and confidence in the Company ».
Following the Transaction, the share capital of
the Company will amount to € 86,291,410 divided into 86,291,410
ordinary shares of one (1) euro nominal value each.
The settlement-delivery of the new ordinary
shares issued in the context of the Transaction and their admission
to trading on the regulated market of Euronext in Paris are
scheduled for October 31, 2021.
The impact of the Transaction on the
distribution of the Company's share capital is as
follows :
Shareholders |
Before
implementationof
the Transaction |
After
implementation of the
Transaction |
Shares |
% of
capital |
Shares |
% of
capital |
Bigben Interactive |
65,097,988 |
75.74 |
65,097,988 |
75.44 |
Bpifrance
Investissement |
1,818,181 |
2.12 |
1,818,181 |
2.11 |
CDC Croissance |
2,169,600 |
2.52 |
2,169,600 |
2.51 |
Public |
16,868,433 |
19.62 |
17,205,641 |
19.94 |
Total |
85,954,202 |
100.00 |
86,291,410 |
100.00 |
By way of illustration, the shareholding of a
shareholder holding 1.00% of the Company's share capital, prior to
the issue of new shares, amounts to 0.996% after the
Transaction.
In accordance with the provisions of article
211-3 of the General Regulations of the Autorité des Marchés
Financiers, the issue of new ordinary shares of the Company in the
context of an offer referred to in paragraph 1° of article L. 411-2
of the French Monetary and Financial Code, has not led to a
prospectus submitted for approval to the Autorité des Marchés
Financiers.
Detailed information about the Company,
including its business, results and related risk factors, can be
found in the annual financial report for the year ended March 31,
2021, which, together with other regulated information and all of
the Company's press releases, is available on its website
(https://corporate.nacongaming.com/).
Upcoming
events:Q2 2021/22
sales: 25 October 2021, Press release after close of the
Paris stock exchange
* * *
ABOUT
NACON |
2020-21
ANNUAL SALES177.8
M€ HEADCOUNTOver 600
employees INTERNATIONAL16 subsidiaries
and a distribution network across 100
countrieshttps://corporate.nacongaming.com/ |
NACON is a company of the BIGBEN Group founded in 2019 to
optimize its know-how through strong synergies in the video game
market. By bringing together its 11 development studios, the
publishing of AA video games, the design and distribution of
premium gaming devices, NACON focuses 30 years of expertise at the
service of players. This new unified business unit strengthens
NACON's position in the market, enables it to innovate by creating
new unique competitive advantages. Company
listed on Euronext Paris, compartment B ISIN :
FR0013482791 ; Reuters : NACON.PA ; Bloomberg :
NACON:FP PRESS CONTACTCap Value – Gilles
Broquelet gbroquelet@capvalue.fr - +33 1 80 81 50 01 |
- Nacon - CP 29 09 2021 Bigant+Lunar - Diffusion -ENG
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