Munich, August 12, 2014 - Around 150 shareholders, shareholder representatives and guests attended the AGM of Gigaset AG at the Hanns Seidel Foundation in Munich. The investors present were asked to vote on six agenda items, which were approved by a large majority.
Charles Fränkl, CEO of Gigaset AG, summarized the previous financial year and emphasized the great speed at which the company is being restructured: “The last financial year was a decisive one in setting the future course for Gigaset. (...) A few days ago we repaid all our bank loans, meaning that Gigaset is now free of bank debt. We have succeeded in extensively restructuring the company's funding base in less than twelve months. This opens up new funding options and new opportunities for our future growth.” Fränkl also presented the company's future strategic direction. Gigaset plans to construct its own cloud-based ecosystem, which will connect all products with a common user interface. It also intends to launch a smartphone in the near future.
Fränkl and the Chairman of the Supervisory Board, Bernhard Riedel, praised the services of the CFO, Dr. Alexander Blum, who is leaving the post at his own request for personal reasons at the end of the year. “I would like to express my thanks to Dr. Blum on behalf of the company for his outstanding work, particularly in acquiring the new investor Goldin and the reorientation and stabilization of our company's financial situation that this entailed,” said Riedel.
The AGM also approved the actions of the Executive and Supervisory Boards in financial year 2013 and passed a separate resolution regarding authorized capital. Details of the voting results will be published on the Gigaset homepage within the coming days.
Gigaset AG, Munich, is an internationally operating company in the area of communications technology. The Company is Europe's market leader in DECT telephones. The premium supplier is likewise the leader worldwide with around 1,400 employees and sales activities in around 70 countries. Under the name Gigaset pro, the company continues to develop and market innovative business telephony solutions for small and medium-sized enterprises. The company also operates in the smart home arena. Cutting-edge, cloud-based products and solutions for the smart home are developed and marketed under the name Gigaset elements.
Gigaset AG is listed on the Prime Standard of Deutsche Börse and is therefore subject to the highest requirements for transparency. Its shares are traded on the Frankfurt Stock Exchange under the symbol 'GGS' (ISIN: DE0005156004).