EQS-Adhoc: Gigaset AG i.L.: Changes in the Management Board

Ad hoc News

WKN: 515600 / WKN A14KQ7

ISIN:  DE0005156004 / DE000A14KQ77

Gigaset AG i.L.: Changes in the Management Board

Bocholt, June 17^th, 2024 19:06 p.m.: The Supervisory Board of Gigaset AG i.L., today resolved to reappoint Mr Ran Tao for a further 12 months and Mr Guoyu Du and Mr Sean Hsin Jan Fang for a further 4 months as interim members of the company's Management Board with effect from June 20^th, 2024, after their appointments to the Management Board were originally limited until June 11^th, 2024.

The new appointments to the Management Board are made against the background of the ongoing negotiations and preliminary work of the insolvency administrator Dr Markus Wischemeyer with Gold Gear Investment (Singapore) Pte. Ltd ("Gold Gear") regarding a possible investor solution for the presentation of an insolvency plan to the creditors and other parties involved in the proceedings with the aim of restructuring and ending the insolvency proceedings.

At the same time, the current Chairman of the Management Board, Dr Magnus Ekerot, and the Supervisory Board today reached an amicable agreement on the termination of his Management Board mandate with effect from the end of June 20^th, 2024. The Supervisory Board would like to thank Dr Magnus Ekerot for his extraordinary performances in connection with the restructuring efforts. The Supervisory Board has appointed Mr Ran Tao as the new Chairman of the Management Board with effect from June 21^st, 2024.

The insolvency administrator continues to conduct the negotiations with Gold Gear in an open and constructive manner with a view to satisfying the creditors of Gigaset AG i.L. to the best of its ability. Whether and, if so, within what timeframe an investor solution will be found and an insolvency plan presented is currently still open and depends on the clarification of various preliminary issues.
 

Gigaset AG i.L. 
Management Board

1926975  17-Jun-2024 CET/CEST