Munich, July 24, 2014 – Gigaset AG today repaid all its financial liabilities, including all unpaid interest, totaling €25.0 million. This was made possible by the proceeds from the capital measures that were successfully placed recently and brought Gigaset in a net sum of €33.9 million. "The Gigaset Group is now completely free of financial debt and so has a raft of new options to ensure that its growth strategy can be financed further," says CFO Dr. Alexander Blum.
In addition, the company will save around €1.5 million a year in interest payments. "We have succeeded in extensively restructuring the company's funding base in the space of just twelve months," adds Blum. The recently completed capital measures comprised the issue of new shares and convertible bonds. The strategic investor Goldin Fund Pte. Ltd. from Singapore had supported them up as backstop investor. The remainder of the proceeds from the capital measures is to be used to expand business further.
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).