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

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.”

The voting results of the Extraordinary General Meeting will soon be available on the company’s website at https://www.paion.com/medien-investoren/hauptversammlung.

About PAION

PAION AG is a publicly listed specialty pharmaceutical company with innovative drugs to be used in hospital-based sedation, anesthesia and critical care services. PAION’s lead compound is remimazolam, an intravenous, ultra-short-acting and controllable benzodiazepine sedative/anesthetic. PAION is rolling out remimazolam (Byfavo®) in selected European markets. Remimazolam is partnered in multiple territories outside of Europe. Remimazolam is approved in the U.S., the EU/EEA/UK, China and South Korea for procedural sedation and in Japan and South Korea for general anesthesia.

In addition, PAION markets two intensive care products in selected European countries: Angiotensin II (GIAPREZA®), a vasoconstrictor indicated for the treatment of refractory hypotension in adults with septic or other distributive shock, and eravacycline (XERAVA®), a novel fluorocycline type of antibiotic indicated for the treatment of complicated intra-abdominal infections in adults.

PAION’s mission is to be a leading specialty pharmaceutical company in the fields of anesthesia and critical care by bringing novel products to market to benefit patients, doctors and other stakeholders in healthcare.

PAION is headquartered in Aachen (Germany).

Contact

Ralf Penner
SVP Investor Relations & Corporate Communications
PAION AG
Heussstrasse 25
52078 Aachen – Germany
Phone +49 241 4453-152
E-mail r.penner@paion.com
www.paion.com

Disclaimer:

This release contains certain forward-looking statements concerning the future business of PAION AG. These forward-looking statements contained herein are based on the current expectations, estimates and projections of PAION AG’s management as of the date of this release. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors. Should actual conditions differ from PAION AG's assumptions, actual results and actions may differ materially from any future results and developments expressed or implied by such forward-looking statements. Considering the risks, uncertainties and other factors involved, recipients should not rely unreasonably upon these forward-looking statements. PAION AG has no obligation to periodically update any such forward-looking statements to reflect future events or developments.