Gigaset AG Submits Insolvency Plan

On October 10, 2024, Gigaset AG announced the submission of an insolvency plan by the insolvency administrator to the Münster Local Court. This move aims to improve the creditors' situation by introducing a new investor, Gold Gear Investment (Singapore) Pte. Ltd, to reorganize and maintain the company as a going concern while preserving its legal status and stock exchange listing.

The plan includes a capital restructuring. The existing share capital of EUR 132,455,896.00 will be reduced through cancellation and simplified capital reduction to EUR 4,415,196.00, followed by an increase to EUR 20,000,000.00 via issuing new preference shares to Gold Gear. This transaction excludes current shareholders' subscription rights.

Further measures aim to enhance the insolvency dividend for creditors. Approval from the creditors' assembly and confirmation by the insolvency court are required to finalize the plan.