Bocholt, 12 May 2023 [21:07 hours] - Gigaset AG today received a request for additions to the agenda of the Annual General Meeting to be held on 15 June 2023 from the shareholder Ludic GmbH, represented by its Managing Director Mr Tom Hiss. The subject of the request is, among other things, the addition to the agenda of a resolution of the Annual General Meeting to reduce the Company's share capital by consolidating shares at a ratio of 8 to 1 as well as an amendment to the Articles of Association to reduce the Supervisory Board to four members.
Ludic GmbH proposes to reduce the share capital of the company from EUR 132,455,896 by EUR 115,898,909 to EUR 16,556,987 for the purpose of creating a free capital reserve in order to increase the attractiveness of the share in the context of the operational development. The reduction shall be effected in accordance with the provisions on the ordinary reduction of capital (§§ 222 et seq. of the German Stock Corporation Act (AktG)) through the consolidation of shares.
Ludic GmbH has enclosed proof with the request for additions that it holds an interest in the share capital of the company to an extent that exceeds EUR 500,000.00 of the share capital. Pursuant to § 122 para. 2 AktG, this is a condition for the request for addition.
Based on current knowledge, the Executive Board of Gigaset AG does not expect the majority shareholder of Gigaset AG, Goldin Fund Pte. Ltd. with a voting interest of 72.32 %, to attend the Annual General Meeting and exercise its voting rights. Ludic GmbH currently holds almost 3 % of the voting rights in Gigaset AG, so that the proposals of Ludic GmbH could find the necessary majorities at the Annual General Meeting on 15 June 2023, taking into account the registrations of previous years, if the agenda is to be extended to include the proposed resolution items.
The Executive Board of Gigaset AG is currently reviewing the supplementary request and will publish the full wording of the supplementary request in the Federal Gazette if this review is positive.