EQS-Adhoc: PAION AG convenes extraordinary general meeting for capital reductions by redemption and consolidation of shares

Public disclosure of inside information pursuant to Article 17 of the Regulation (EU) No 596/2014 (Market Abuse Regulation)

PAION AG convenes extraordinary general meeting for capital reductions by redemption and consolidation of shares

Aachen, December 14, 2022 The Management Board of specialty pharmaceutical company PAION AG (ISIN DE000A0B65S3; ticker symbol PA8 (Frankfurt Stock Exchange, Prime Standard)) (the Company) today resolved to convene an extraordinary general meeting on capital reductions by way of redemption and consolidation of shares. The general meeting is scheduled to take place on Wednesday, January 25, 2023, at 10:00 a.m. (CET) at the Tivoli Aachen, Business & Event Section, Krefelder Straße 205, 52070 Aachen, Germany.

According to the proposal of the Management and Supervisory Boards of the Company, the current share capital of the Company in the amount of EUR 71,336,992.00, divided into 71,336,992 no-par value bearer shares (PAION Shares), shall be reduced by way of an ordinary capital reduction through a consolidation of shares in a ratio of 10:1, i.e. each ten PAION Shares shall be consolidated into one PAION Share. In order to achieve an even reduction ratio, two PAION Shares provided by a shareholder free of charge shall be redeemed first, thereby reducing the share capital by EUR 2.00 in simplified form. The share capital, which will have been reduced to EUR 71,336,990.00 following this redemption, is then to be reduced to EUR 7,133,699.00 by way of an ordinary capital reduction through the consolidation of shares.

The aim of the capital reduction is to achieve a share price of the Company above the pro rata nominal value of one PAION Share in the share capital of EUR 1.00 each; a repayment to the shareholders is not intended. This is intended to enable the Company to alternatively or additionally raise funds from a capital increase in the future.

The Executive Board and the Supervisory Board do not intend to utilise the authorised capital in an amount of more than 50% of the reduced share capital.
PAION contact:

Investor Relations
cometis AG
Thorben Burbach
Tel.: +49 (0) 611 205855 23
E-Mail: burbach@cometis.de
www.paion.com
Important information:

This publication contains certain forward-looking statements relating to PAION AG. These reflect the estimations and assumptions made by the management of PAION AG to the best of its knowledge at the date of this release and involve certain risks, uncertainties and other factors. If the circumstances underlying the Companys assumptions change, actual results and actions may differ materially from those implicitly or explicitly anticipated. Considering these risks, uncertainties and other factors, recipients of this publication should not place undue reliance on these forward-looking statements. PAION AG does not undertake to update or revise such forward-looking statements to reflect future events or developments.