PAION AG / Key word(s): Change of Personnel 07.07.2015 20:23 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- DR. MARIOLA SÃHNGEN WILL LEAVE MANAGEMENT BOARD OF PAION AG AS OF 31 OCTOBER 2015 TO PURSUE A NEW CHALLENGE - Dr. Mariola Söhngen, Chief Medical Officer of PAION AG, will resign from her office as management board member as of 31 October 2015 - Supervisory Board extends appointment of Dr. Wolfgang Söhngen as CEO of PAION AG until end of December 2018 Aachen (Germany), 07 July 2015 - PAION AG, a Specialy Pharma Company (ISIN DE000A0B65S3; Frankfurt Stock Exchange Prime Standard: PA8) today announces that Dr. Mariola Söhngen, Chief Medical Officer ("CMO") of the Company, has informed the Chairman of the Supervisory Board that she wants to leave the Management Board of the Companyâ prior to the end of her current appointment until 31 December 2016, to pursue a new management challenge. Today the Supervisory Board has basically agreed with Mrs. Söhngen that she will resign from office as of 31 October 2015. The details of the termination agreement will be agreed between the Supervisory Board and Mrs. Söhngen. Mrs. Söhngen will continue to provide her expertise as a consultant on request after her departure. In connection with the step-down of Mrs. Söhngen, the Supervisory Board decided to extend the appointment and contract of Dr. Wolfgang Söhngen as CEO of the Company by another year until end of 2018. In the interim, Mr. Söhngen will take over certain of Mrs. Söhngen's functions until the appointment of a new CMO and thus will ensure a smooth transition. ### 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. 07.07.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- 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: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: DR. MARIOLA SÃHNGEN WILL LEAVE MANAGEMENT BOARD OF PAION AG AS OF 31 OCTOBER 2015 TO PURSUE A NEW CHALLENGE
| Source: EQS Group AG