DGAP-Adhoc

PAION COMPLETES PRIVATE PLACEMENT WITH PENDOPHARM'S EUROPEAN AFFILIATE PHARMASCIENCE INTERNATIONAL LIMITED THROUGH THE ISSUANCE OF NEW SHARES IN A PLACEMENT VOLUME OF EUR 4 MILLION

PAION AG / Key word(s): Capital Increase

17.07.2014 19:54

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.

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NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE
UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR
RELEASE WOULD BE UNLAWFUL.

AD-HOC ANNOUNCEMENT ACCORDING TO § 15 WPHG

PAION COMPLETES PRIVATE PLACEMENT WITH PENDOPHARM'S EUROPEAN AFFILIATE
PHARMASCIENCE INTERNATIONAL LIMITED THROUGH THE ISSUANCE OF NEW SHARES IN A
PLACEMENT VOLUME OF EUR 4 MILLION

Aachen (Germany), 17 July 2014 - PAION AG, a Specialty Pharma Company (ISIN
DE000A0B65S3; Frankfurt Stock Exchange Prime Standard: PA8) announces that
the Company will issue about 1.27 million new shares for EUR 3.1463 per
share with a total value of EUR 4 million in a private placement to
Pendopharm's European affiliate Pharmascience International Limited under
exclusion of the shareholders' subscription rights.
Through the option agreement announced on 13 June 2014, Pendopharm's
European affiliate, Pharmascience International Limited, had committed to
invest up to EUR 4 million in shares not subscribed by PAION's shareholders
at the end of the meanwhile completed rights offering at a 10% premium to
the theoretical ex-rights price of PAION's share price. Because at the end
of the rights offering, no new shares were available to permit the
investment of the EUR 4 million, PAION had the right to require
Pharmascience International Limited to invest the EUR 4 million in shares
of PAION in a separate private placement at a 10% premium to the then
current market price (5-days VWAP). PAION has now exercised this
contractual right.


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Information and Explaination of the Issuer to this News:

About PAION
PAION AG is a publicly-listed Specialty Pharma Company headquartered in
Aachen, Germany with a second site in Cambridge, UK. The company has a
track record in developing hospital-based treatments for which there is
substantial unmet medical need. PAION AG is transforming its business model
from a pure development company to a specialty pharmaceutical company with
a focus on anaesthesia products to take advantage of the unique profile of
its main compound, Remimazolam.

PAION Contact
Ralf Penner
Director Investor Relations / Public Relations
PAION AG
Martinstrasse 10-12
52062 Aachen - Germany