Galapagos NV Creates New Warrant Plan
Published: May 17, 2013
MECHELEN, BELGIUM--(Marketwired - May 17, 2013) - Galapagos NV (EURONEXT BRUSSELS: GLPG) announced today that its Board of Directors created 648,490 warrants under a new warrant plan for the benefit of employees, directors and independent consultants of the Company and its subsidiaries.
On 16 May 2013, the Board of Directors of Galapagos approved the "Warrant Plan 2013" within the framework of the authorized capital. Under this warrant plan, 648,490 warrants were created, subject to acceptances.
The warrants created under Warrant Plan 2013 were offered on 16 May 2013, mainly to employees of Galapagos and its subsidiaries and in secondary order to its directors and independent consultants. The offer of warrants to directors has been pre-approved by the Ordinary General Shareholders' Meeting held on 30 April 2013.
The warrants have an exercise term of eight years as of the date of the offer and have an exercise price of EUR19.38 (the average closing price of the share on Euronext Brussels during the thirty days preceding date of the offer). The warrants are not transferable and can in principle not be exercised prior to the end of the third calendar year after the calendar year in which they were granted to the beneficiaries. Each warrant gives the right to subscribe to one new Galapagos share. Should the warrants be exercised, Galapagos will apply for the listing of the resulting new shares on a regulated stock market. The warrants as such will not be listed on any stock market.
To date, Galapagos' total share capital amounts to EUR160,474,357.19; the total number of securities conferring voting rights is 29,665,159, which is also the total number of voting rights (the "denominator"), and all securities conferring voting rights and all voting rights are of the same category. The total number of rights (warrants) to subscribe to not yet issued securities conferring voting rights is 3,123.368, which equals the total number of voting rights that may result from the exercise of these warrants. Galapagos does not have any convertible bonds or shares without voting rights outstanding.
Galapagos (EURONEXT BRUSSELS: GLPG) (PINKSHEETS: GLPYY) is specialized in novel modes-of-action, with a large pipeline of four clinical, seven pre-clinical, and 30 discovery small-molecule and antibody programs in cystic fibrosis, inflammation, antibiotics, metabolic disease, and other indications. GLPG0634 is an orally-available, selective inhibitor of JAK1 for the treatment of rheumatoid arthritis and potentially other inflammatory diseases, about to enter Phase 2b studies in RA and Phase 2 studies in Crohn's disease. AbbVie and Galapagos signed a worldwide license agreement whereby AbbVie will be responsible for further development and commercialization after Phase 2b. Galapagos has another selective JAK1 inhibitor in Phase 2 in lupus and psoriasis, GSK2586184 (formerly GLPG0778, in-licensed by GlaxoSmithKline in 2012). GLPG0187 is a novel integrin receptor antagonist currently in a Phase 1b patient study in metastasis. GLPG0974 is the first inhibitor of GPR43 to be evaluated clinically for the treatment of IBD; this program is currently in a Proof of Concept Phase 2 study.
The Galapagos Group, including fee-for-service companies BioFocus, Argenta and Fidelta, has 800 employees and operates facilities in five countries, with global headquarters in Mechelen, Belgium. Further information at: www.glpg.com
Galapagos forward-looking statements
This release may contain forward-looking statements, including, without limitation, statements containing the words "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," "will," "could," "stands to," and "continues," as well as similar expressions. Such forward-looking statements may involve known and unknown risks, uncertainties and other factors which might cause the actual results, financial condition, performance or achievements of Galapagos, or industry results, to be materially different from any historic or future results, financial conditions, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this document. Galapagos expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based, unless required by law or regulation.
Galapagos creates new warrant plan: http://hugin.info/133350/R/1702834/562752.pdf
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Source: Galapagos NV via Thomson Reuters ONE [HUG#1702834]
Director Investor Relations
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