The rights issue was subscribed for at 17.4 percent

The rights issue in Panion Animal Health AB was subscribed for approximately SEK 1.3 million, corresponding to approximately 17.4 percent of the issue. Existing shareholders with preferential rights subscribed for 1,294,491 shares, corresponding to approximately 16.8 percent. Panion is thus allocated approximately SEK 1.3 million before issue costs of approximately SEK 150,000. By subscription and allotment 1,337,365 shares are issued. Settlement notes are scheduled to be sent out on January 2, 2019. Shares and share capital after the rights issue amount to SEK 1,137,110,723 divided into 24,399,487 shares. Trading in paid subscribed shares (BTA) is ongoing until the rights issue has been registered by the Swedish Companies Registration Office, which is expected to take place in January 2019.

In addition to the issue completed above, the following agreements have been concluded;

* Long Island Veterinary Specialists Clinics, Ophthalmology, Surgery, Internal Medicine, Emergency, PLLC in New York, USA (LIVS) shall carry out the study and reduces the cost by USD 50,000. "LIVS" receives this amount in shares in a separate directed issue.

* Board member Dede Willis and director of business development Carlos N. Veles subscribe for shares in a separate directed issue. The amount in this issue amounts to USD 10,000.

During the current period, the process of additional capital injection of USD 450,000 has been initiated, this process is expected to be completed during Q1 2019.

Panion Animal Heath AB

Board of Directors

This press release contains information which Panion Animal Health AB is obliged to publish according to the EU market abuse regulation (MAR). This information was submitted by Panion’s CEO, Anja E. H. Holm, for publication on December 28 2018.