PAION AG
PAION AG: CAPITAL INCREASE; PRELIMINARY, UNAUDITED KEY GROUP FINANCIAL FIGURES FOR 2016
DGAP-News: PAION AG / Key word(s): Preliminary Results/Capital Increase 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. Aachen (Germany), 07 February 2017 – The Management Board of the specialty pharmaceutical company PAION AG (ISIN DE000A0B65S3; Frankfurt Stock Exchange, Prime Standard: PA8) has today decided with the approval of the Supervisory Board of the same day, to increase the Company’s registered share capital against contribution in cash from EUR 55,757,094.00 by EUR 2,439,023.00 to EUR 58,196,117.00 by issuing 2,439,023 new, registered, no-par value shares with a notional value of EUR 1.00 (the “New Shares”), each with full dividend entitlement as of the fiscal year beginning 01 January 2016 while granting subscription rights to existing shareholders. The subscription price is EUR 2.05 per share. PAION intends to use the proceeds of the capital increase primarily to prepare and submit an application for approval of remimazolam in Japan. Preliminary unaudited key group financial figures 2016 Should development, filing and approval through Cosmo in procedural sedation in the U.S. go according to plan, PAION will not need additional funding to bring remimazolam to the U.S. market. Regarding the EU, PAION is currently evaluating how to resume the clinical development of remimazolam. For further development in the EU additional funding would be required. Further details of a potential new development plan in the EU will be specified in the annual financial report. PAION AG plans to publish the annual financial report for fiscal year 2016 on 16 March 2017. “We are highly pleased to present a financing solution for filing in Japan” Dr. Wolfgang Söhngen, CEO of PAION AG, commented and added: “We believe that a filing is possible until mid-2018 and hope for a new dynamic in the partnering process.” ### PAION’s vision is to become an acknowledged “PAIONeer” in sedation and anesthesia. PAION Contact 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.
07.02.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
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, Tradegate Exchange |
End of News | DGAP News Service |