Paion AG. (10/26/23). "Press Release: Filing an Application for the Opening of Insolvency Proceedings [ad hoc]". Aachen.

	Region	Aachen
	Country	Germany
	Organisation	Paion AG
	Today	Humanwell Healthcare (Group)
	Group	Humanwell Healthcare (Group)
	Organisation 2	Frankfurt Stock Exchange (FSE)
	Group	Deutsche Börse (Group)
	Product	pharmaceutical
	Product 2	investment banking
	Person	Penner, Ralf (Paion 201011 Director Investor/Public Relations)

The specialty pharma company PAION AG (ISIN DE000A3E5EG5; Frankfurt Stock Exchange, Prime Standard: PA8) announces that it will immediately file for insolvency proceedings. The background to the filing is the fact that irregularities have come to light in the area of responsibility of the company's CFO with regard to a financing that is important for the company. The exact background to this is currently being investigated. As a result of the irregularities, the company is obliged to file for insolvency. The Supervisory Board decided today to remove Mr Sebastian Werner, the member of the Executive Board responsible for financing and CFO, as a member of the Executive Board with immediate effect. In view of the current developments, the current capital increase with subscription rights will be cancelled and not carried out.

End of Inside Information

Information and Explanation of the Issuer to this announcement:

Contact

Ralf Penner
SVP Investor Relations & Corporate Communications
PAION AG
Heussstrasse 25
52078 Aachen – Germany

Phone +49 241 4453-152
E-mail [email protected]
www.paion.com

Record changed: 2024-08-24