Legal Proceedings Report • Oct 11, 2013
Legal Proceedings Report
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Ad-hoc | 11 October 2013 18:41
Gigaset AG: Lawsuit with Sommer administratior amicably settled
Gigaset AG / Key word(s): Legal Matter/Agreement
11.10.2013 18:41
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Munich, 11/10/2013. - Gigaset AG as defendant and the insolvency
administrator appointed over Sommer Road Cargo Solutions GmbH & Co. KG
('Sommer') as claimant have today amicably settled their lawsuit which was
pending from January 2013.
The administrator had claimed that in 2007 ARQUES Industries AG, at the
time the parent company of Sommer Group, unlawfully demanded repayment of a
loan from Sommer and as such violated, inter alia, the equity maintenance
rules applicable at that point in time. Sommer had consequently incurred
damage of a minimum of 3 million Euros , for which Gigaset, formerly
trading under the name ARQUES Industries AG, beared joint and several
liability together with Dr. Vorderwülbecke, its Managing Director and
member of the Executive Board at the time. The administrator claim was
limited to an amount of 3 million Euros initially; however the
administrator had reserved the right to retrospectively increase that
amount. Gigaset had contested the lawsuit.
Under today's settlement, Gigaset AG shall pay an amount of 800.000 EUR to
the administrator. The payment is due in several installments until 31
January 2014.
After payment of the amounts determined by today's settlement, all claims
of the administrator against Gigaset AG are paid and settled.
Sommer Road Cargo Solutions GmbH & Co. KG was an affiliate of ARQUES
Industries AG from October 2005 to March 2009. Insolvency proceedings were
instigated against Sommer on December 31, 2009. After changing its business
model in 2010, ARQUES Industries AG today operates under the name Gigaset
AG.
Information and Explaination of the Issuer to this News:
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 ranks second worldwide with around 1,700
employees and a market presence in more than 70 countries.
Gigaset AG is listed on the Prime Standard of Deutsche Börse and so is
subject to the very highest requirements for transparency. Its shares are
traded on the Frankfurt Stock Exchange under the symbol 'GGS' (ISIN:
DE0005156004).
Contact:
Gigaset AG
Kerstin Diebenbusch
Investor Relations
Phone: +49 (0)89 444456-937
E-mail: info(at)gigaset.com
Stefan Zuber
Corporate Communications
Phone: +49 (0)89 444456-600
E-mail: [email protected]
11.10.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: Gigaset AG
Hofmannstraße 61
81379 München
Germany
Phone: +89444456937
Fax: +89444456930
E-mail: [email protected]
Internet: www.gigaset.com
ISIN: DE0005156004
WKN: 515600
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service
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