Gigaset AG, a German company that specializes in communication technology, has recently submitted an insolvency plan. The company’s board of directors received information that the insolvency administrator has presented a plan in the insolvency proceedings at the Münster District Court.
The insolvency plan aims to benefit the creditors of Gigaset AG. With the support of a new investor, Gold Gear Investment (Singapore) Pte. Ltd., the company plans to undergo a financial restructuring while maintaining its listing on the stock exchange.
As part of the plan, the company’s share capital of EUR 132,455,896 will be reduced to EUR 4,415,196 through the cancellation of 16 shares and a subsequent simplified capital reduction in a 30:1 ratio. Following this reduction, the capital will be increased to EUR 20,000,000, with an injection of EUR 15,584,804 from the new investor Gold Gear through the issuance of 15,584,804 new preference shares with voting rights.
Additionally, the insolvency plan includes measures to increase the recovery rate for the company’s creditors. The plan is subject to approval by the creditors’ meeting and confirmation by the insolvency court.
This strategic move by Gigaset AG reflects its commitment to overcoming financial challenges and ensuring the company’s continued operation. The involvement of a new investor demonstrates confidence in the company’s potential for recovery and growth in the future.
It is important to note that the implementation of the insolvency plan will require careful consideration and approval from all relevant parties involved. The company’s board of directors is dedicated to navigating this process effectively and transparently to achieve the best possible outcome for Gigaset AG and its stakeholders.
