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Gigaset AG Announces Capital Increase and Issuance of Convertible Bond; Enters Into Investment Agreement with Goldin Fund Pte. Ltd. to Develop New Business Segment


Friday, 27 Sep 2013 04:51am EDT 

Gigaset AG (Gigaset) announced that it has decided to increase its the capital by up to EUR 19,571,049 against contributions in cash by issuing up to 19,571,049 bearer shares of common stock without par value. The offer price will be EUR 1 each and subscription ratio will be 23:9. Also, Gigaset decided to issue convertible bonds of EUR 23,340,289. In connection with the resolutions above, Gigaset has entered into an investor agreement with Goldin Fund Pte. Ltd. (Goldin). Goldin intends to enter into a strategic cooperation with Gigaset group, to develop new market segments in consumer electronics. Under the agreement, Goldin has irrevocably committed to Gigaset, equinet Bank AG and Bankhaus Neelmeyer AG to acquire all remaining new shares and convertible bonds not subscribed by shareholders of the Company at the respective subscription price. This obligation is subject to the condition precedent that Goldin acquiring such shares and convertible bonds not subscribed for by the shareholders of the Company after the capital increase and on the assumption the convertible bonds are being converted will hold a minimum of 30 % in the voting rights in the Company. Goldin has also undertaken to make an offer for the acquisition of all shares in the Company. Also, agreement provides rules pertaining to further capital measures of Gigaset group companies to finance the establishment of a new business unit for tablet computers, smartphones and other mobile communications devices.