MECHELEN, BELGIUM--(Marketwire - May 23, 2011) -
Mechelen, Belgium; 23 May 2011 - Galapagos NV (Euronext: GLPG) announced
today
that its Extraordinary General Shareholders' Meeting (EGM) held today
approved
all proposals, including the creation of a new Warrant Plan for the
benefit of
the Directors. In addition, the Board of Directors approved the creation
of a
new Warrant Plan for the benefit of employees and independent consultants
of the
Company.
Galapagos announced that its EGM held today approved all proposals, including the Warrant Plan 2011 (B), creating (subject to acceptance) 131,740 warrants for the benefit of the Directors of the Company. These warrants have an exercise period of five years starting as of the date of the offer. Also today, the Board of Directors, using the authorized capital, created the Warrant Plan 2011 for the benefit of certain employees and independent consultants of the Company and its subsidiaries. Under this plan 802,500 were created (subject to acceptances), with an exercise period of eight years starting as of the date of the offer.
The warrants created under the Warrant Plan 2011 and the Warrant Plan 2011 (B) were offered to the beneficiaries on 23 May 2011, and have an exercise price of EUR9.95 (thirty days average closing price of the share on Euronext Brussels preceding date of the offer). The warrants created under these plans are not transferable and cannot be exercised prior to the end of the third calendar year after the 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 admitted to listing on any stock market.
About Galapagos Galapagos (Euronext: GLPG; OTC: GLPYY) is a mid-size biotechnology company specialized in the discovery and development of small molecule and antibody therapies with novel modes-of-action. The Company is progressing one of the largest pipelines in biotech, with six programs in development and over 50 discovery programs. Through risk/reward-sharing alliances with GlaxoSmithKline, Lilly, Janssen Pharmaceutica, Roche and Servier, Galapagos is eligible to receive up to EUR2.5 billion in downstream milestones, plus royalties. The Galapagos Group has over 800 employees and operates facilities in seven countries, with global headquarters in Mechelen, Belgium. More info at: www.glpg.com
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-
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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.
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Source: Galapagos NV via Thomson Reuters ONE
[HUG#1517981]
