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Cessation of stock exchange trading on Xetra
The Company has received notice today that due to the filing of an application for insolvency proceedings of Gigaset AG, trading of the Gigaset share on the stock exchange trading venue Xetra has been suspended. The reason for this is that the Company has lost its CCP (Central Counter Part) eligibility, which is a prerequisite for Xetra trading.
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Application for the opening of insolvency proceedings
The Executive Board of Gigaset AG today decided to file an application for the opening of regular insolvency proceedings for Gigaset AG and an application for the opening of insolvency proceedings in self-administration for its indirect subsidiary Gigaset Communications GmbH at the competent Local Court of Münster due to illiquidity. The business operations of the Gigaset Group will continue unchanged.
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Inflation and Economic Slowdown necessitate Adjustment of Outlook for 2023
A current review and assessment of the further course of business for 2023 today have given the Management Board of Gigaset AG cause to adjust the previous forecast.
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