Directors Dealings

The members of the company’s Executive Board and Supervisory Board, as well as persons closely associated with them, are obliged under Article 19 of Regulation (EU) No. 596/2014 on market abuse (Market Abuse Regulation) to notify Gigaset AG and the German Federal Financial Supervisory Authority (BaFin) about all transactions on their own account in shares or debt instruments of Gigaset AG, and related derivatives or other financial instruments linked to them, if the value of the transactions conducted within a calendar year reaches or exceeds the total of €20,000.00. 

Current notification about directors' dealings

Legal Background:

If a person discharging managerial responsibilities at an issuer deals in financial instruments that the issuer itself has issued (such as shares or bonds), these directors' dealings should not be concealed from investors. This is a key element in ensuring transparency on capital markets. Regulation (EU) No. 596/2014 on market abuse (Market Abuse Regulation) therefore requires that persons discharging managerial responsibilities notify the issuer and the responsibility authority (BaFin) of transactions on their own account in shares or debt instruments of the issuer that are traded on financial markets, and related derivatives or other financial instruments linked to them, within three business days.

“Persons discharging managerial responsibilities” denotes persons who are members of an administrative, management or supervisory body of the issuer and persons who have regular access to inside information and power to take important entrepreneurial decisions.

The obligation to report such transactions also applies to spouses, registered partners, dependent children, and relatives who have shared the same household for at least a year. The same applies to legal persons, institutions acting as trustees (e.g. foundations) or partnerships closely associated with the member of management.

Transactions do not have to be reported if their total volume up to the end of a calendar year remains below the threshold of €20,000.00.