Gigaset AG

Legal Proceedings Report • Nov 19, 2010

News Details

Corporate | 19 November 2010 13:21

ARQUES Industries AG: ARQUES signs declaration of intent with Siemens AG regarding Gigaset

ARQUES Industries AG / Key word(s): Agreement

19.11.2010 13:21

Press Release: ARQUES signs declaration of intent with Siemens AG regarding
Gigaset

Munich, November 17, 2010

ARQUES Industries AG ('ARQUES') announces that the company today signed a
declaration of intent for a comprehensive agreement with Siemens AG
('Siemens'). The declaration of intent concerns the current legal dispute
with Siemens regarding Gigaset Communications GmbH ('Gigaset').

Based on this declaration of intent, a comprehensive agreement is to be
prepared and signed by December 15, 2010, whereby all mutual contentious
demands in connection with the acquisition of Gigaset by ARQUES are to be
settled. Under certain conditions ARQUES can then still exercise its option
to acquire the remaining shares in Gigaset in 2010.

The current arbitration proceedings are in abeyance until such time as the
intended agreement becomes effective and are to be terminated at the
signing of the agreement.

The negotiations between Siemens and ARQUES were held in a constructive
atmosphere based on the altered conditions on the part of ARQUES. It was
important for the current ARQUES management to resolve justifiable
irritations which developed at Siemens in the past.

The goal was to create an optimal basis for the further, successful
development of Gigaset and consequently also the further, positive
development of ARQUES.

Based on current available information, the executive board of ARQUES
assumes that the proceeds from the successfully placed capital increase in
October and from the currently available convertible bonds are sufficient
to cover all commitments to Siemens as well as to provide Gigaset with
further liquidity for planned expansion measures. In addition, the
executive board expects substantial short to medium term inflows from its
subsidiary operations. Further capital measures are therefore not planned.

Within the context of the ARQUES annual meeting scheduled for December 20,
2010, the ARQUES executive board will report in part on the final agreement
with Siemens.

About ARQUES

ARQUES Industries AG is an equity investment company focusing on the
restructuring of companies in transitional situations. ARQUES develops
these companies, mainly acquired within the context of company spin-offs,
to competitive enterprises with a positive yield in order to sell these
afterwards with added value. The shares of ARQUES Industries AG are traded
in the Prime Standard of the Frankfurt Stock Exchange. Symbol: AQU, ISIN:
DE0005156004. www.arques.de.

Contact:
ARQUES Industries AG
Investor Relations
Email: info@arques.de

Tel: 089/ 25 55 00 - 0

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Language: English
Company: ARQUES Industries AG
Arnulf Office Park - Arnulfstraße 37-39
80636 München
Deutschland
Phone: +49 89/255500-0
Fax: +49 89/255500-200
E-mail: klaus.franke@arques.de
Internet: www.arques.de
ISIN: DE0005156004
WKN: 515600
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Hamburg, München, Düsseldorf, Berlin, Stuttgart

End of Announcement DGAP News-Service

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