Oppenheimer Fund has sold Gigaset shares
Munich, Mar 17, 2011
Oppenheimer Fund has sold Gigaset shares
Munich, March 18, 2011: The Oppenheimer International Small Company Fund announced today that it sold a total of 991,546 Gigaset AG shares between March 14 and March 15, 2011, i.e. at the height of the Japan crisis.
According to rumours on the market, the fund also sold its remaining approximately 3.7 million Gigaset shares between March 11 and March 17.
There is a temporal correlation between the sale of the shares and the departure of the fund manager on February 28, 2011. The fund manager was responsible for the Gigaset shares for more than seven years. It has also become known that the small cap fund in which Gigaset AG was held has been restructured by the new fund managers. All the sold shares were placed on the market.
Maike Brockmann, Gigaset AG Executive Board Member: "From Gigaset's perspective the sale of almost 10% of the Gigaset shares at the peak of the Japan crisis is certainly not considered ideal but I am pleasantly surprised by how robust the market for Gigaset shares is and how quickly the price has recovered after these parallel events."
Gigaset AG, Munich, is a
worldwide leading company focusing on telecommunication and accessories.
Gigaset AG is the parent company of the Gigaset Group, the leading producer of
cordless phones worldwide and the market leader in Europe for DECT phones.
The shares of Gigaset AG are traded in
the TecDAX (as of March 21, 2011) on the Frankfurt Stock Exchange under the symbol ‘AQU‘ (ISIN:
DE0005156004).
More information is available under http://www.gigaset.com.
Contact:
Gigaset AG
Kerstin Diebenbusch
Investor Relations
Tel.: +49 (0)89 444456-937
E-Mail: info@gigaset.com
