PAION AG (FRA:PA8) EQS-Adhoc: PAION AG: Filing an application for the opening of insolvency proceedings
Transparency directive : regulatory news
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EQS-Ad-hoc: PAION AG / Key word(s): Insolvency PAION AG: Filing an application for the opening of insolvency proceedings
Aachen (Germany), 26 October 2023 - 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 r.penner@paion.com www.paion.com
26-Oct-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | PAION AG |
| Heussstraße 25 | |
| 52078 Aachen | |
| Germany | |
| Phone: | +49 (0)241-4453-0 |
| Fax: | +49 (0)241-4453-100 |
| E-mail: | info@paion.com |
| Internet: | www.paion.com |
| ISIN: | DE000A3E5EG5 |
| WKN: | A3E5EG |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1758289 |
| End of Announcement | EQS News Service |
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1758289 26-Oct-2023 CET/CEST