Creditors' assembly approves insolvency plan

Ad hoc announcement

WKN: 515600 / WKN A14KQ7

Bocholt, 5 November 2024

Gigaset AG i.L.: Creditors' assembly approves insolvency plan

Bocholt, 5 November 2024, 17:55 - Today, Gigaset A’s creditors and shareholders unanimously voted in favour of the insolvency plan of Gigaset AG submitted by the insolvency administrator at a discussion and voting meeting before the competent Local Court - Insolvency Court - Münster.

The insolvency plan provides for a better position for those affected by the plan. By bringing in a new investor, Gold Gear Investment (Singapore) Pte. Ltd ("Gold Gear"), the company is to be reorganised and continued as a going concern while preserving its legal status and stock exchange listing.

In this context, the company's share capital of EUR 132,455,896.00 will be reduced to EUR 4,415,196.00 by cancellation of 16 shares and a subsequent simplified capital reduction at a ratio of 30:1 and subsequently increased by EUR 15,584,804.00 to EUR 20,000,000.00. The increase will be carried out by issuing 15,584,804 new registered preference shares with voting rights against cash consideration and exclusively to the new investor Gold Gear with the corresponding exclusion of subscription rights for existing shareholders. In addition, the insolvency plan contains further measures that will lead to an increase in the insolvency quota for creditors.

The confirmation of the insolvency plan by the Münster Local Court is subject to certain conditions precedent and will only take effect once the confirmation decision becomes legally binding.

Gigaset AG i.L.

The Management Board