Gigaset AG Creditors Approve Insolvency Plan

The creditors and shareholders of Gigaset AG have approved an insolvency plan in a recent meeting. The assembly, held before the Münster Insolvency Court, resulted in unanimous support for the proposal submitted by the insolvency administrator. This plan aims to reorganize and sustain Gigaset as a going concern, introducing Gold Gear Investment (Singapore) Pte. Ltd as a new investor.

Under this plan, Gigaset's share capital, originally EUR 132.5 million, will be drastically reduced to EUR 4.4 million, with a subsequent capital increase to EUR 20 million through new preference shares issued to Gold Gear, excluding existing shareholders' rights. Additionally, the plan promises improved insolvency quotas for creditors. The plan's confirmation by the court awaits certain conditions before becoming legally effective.