EQS-News

PAION AG: Extraordinary General Meeting approves capital reductions and creates scope for further corporate financing

EQS-News: PAION AG / Key word(s): AGM/EGM PAION AG: Extraordinary General Meeting approves capital reductions and creates scope for further corporate financing 25.01.2023 / 17:35 CET/CEST The issuer is solely responsible for the content of this announcement. PAION AG: Extraordinary General Meeting approves capital reductions and creates scope for further corporate financing

Aachen (Germany), 25 January 2023 – PAION AG (ISIN DE000A0B65S3; Frankfurt Stock Exchange, Prime Standard: PA8), a specialty pharmaceutical company with innovative compounds for use in outpatient and in-hospital sedation, anesthesia, and intensive care, today successfully held its Extraordinary General Meeting. At the meeting, shareholders approved the proposed capital reductions by redemption and consolidation of shares with a large majority. At the AGM, 17.22% of the share capital was represented.

The current share capital of the Company of EUR 71,336,992.00 will therefore be reduced to EUR 7,133,699.00 by way of an ordinary capital reduction through a consolidation of shares in a ratio of 10:1. In order to achieve an even reduction ratio, the share capital will be reduced to EUR 71,336,990.00 in a first step. The entry of the capital reductions in the commercial register is expected to take place in March 2023, subject to any actions of annulment.

Gregor Siebert, CEO of PAION AG, said: “We are pleased that our shareholders have voted with a large majority in favour of the implementation of a capital reduction. We are currently working on a suitable financing concept in order to be able to drive forward our international marketing activities in the current fiscal year and beyond. In doing so, we are striving to keep all possible financing options open. With regard to the option of financing through equity, the resolutions passed today provide the necessary leeway for a possible capital increase in the future. For further corporate financing, we will carefully consider the options available to us.”