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

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| Source: EQS Group AG
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
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 the Company'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.

This release does not constitute an offer of securities for sale or a
solicitation of an offer to purchase securities of PAION AG in the United
States or any other jurisdiction. Neither this announcement nor anything
contained herein shall form the basis of, or be relied upon in connection
with, any offer or commitment whatsoever in any jurisdiction. The
securities of PAION AG may not be offered or sold in the United States
absent registration or an exemption from registration under the U.S.
Securities Act of 1933, as amended (the 'Securities Act'). The securities
of PAION AG have not been, and will not be, registered under the Securities
Act.

17.07.2014 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      PAION AG
              Martinstr. 10-12
              52062 Aachen
              Germany
Phone:        +49 (0)241-4453-0
Fax:          +49 (0)241-4453-100
E-mail:       info@paion.com
Internet:     www.paion.com
ISIN:         DE000A0B65S3
WKN:          A0B65S
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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