Ipsen announces the launch of an employee shareholding plan
Ipsen announces the launch of an
employee shareholding plan
PARIS, FRANCE, 30 May 2024 -
Ipsen (Euronext: IPN; ADR: IPSEY) today announced the launch of an
employee shareholding plan. The fourth transaction in the last
eight years aims to involve Ipsen's employees more closely, both in
France and abroad, in the Group's development and performance. It
will be launched in 23 countries.
This plan, for employee only, will be carried
out through the sale of existing shares reserved for members of a
Company savings plan. The sale of existing shares will be capped to
a number of shares representing a maximum of 1% of the Company's
share capital.
Upon delegation of the Board of Directors, the
Chief Executive Officer has set the subscription price of a share
in the context of this transaction on 30 May 2024. The subscription
price of a share corresponds to the average opening prices of the
Ipsen share on Euronext Paris during the twenty (20) trading days
preceding the decision of the Chief Executive Officer, less a 20%
discount. The subscription price is €95.54.
Beneficiaries of the Offering
The offering is carried out pursuant to Articles
L. 3332-18 et seq. of the French Labour Code, within the framework
of Ipsen's Group Savings Plan (“PEG”) and International Group
Savings Plan. Ipsen employees will benefit from an employer
matching contribution.
It is intended for the Group employees with at
least three months' seniority and who are located in the following
countries: Australia, Belgium, Brazil, Canada, China, Colombia,
Czech Republic, France, Germany, Greece, Ireland, Italy, Mexico,
Netherlands, Poland, Romania, Singapore, South Korea, Spain,
Sweden, Taiwan, the U.K. and the U.S.
Former retired and pre-retired employees who
have retained assets in the GSP since leaving the Group are also
eligible to participation in the transaction, without the benefit
of the employer matching contribution.
The shares subscribed to, in registered form or
through a Fonds Commun de Placement d’Entreprise (“FCPE”), will be
locked-up for a period of (5) years, in accordance with the
regulations governing employee savings plans, except in the case of
authorized early exit events.
Indicative timetable of the transaction
Setting of the subscription price: 30 May
2024Subscription period: from 5 June to 19 June
2024Settlement-delivery of the offering: expected on 30 July
2024
The shares purchased within the framework of the
transaction will be Ipsen ordinary shares and will be fully
assimilated to existing Ipsen shares listed on Euronext Paris (ISIN
code: FR0010259150).
This press release does not constitute an offer
to sell or the solicitation of an offer to subscribe for Ipsen
shares. The Ipsen share offering is strictly reserved for members
of a Group employee savings plan and will only be implemented in
countries where such an offering has been registered with or
notified to the competent local authorities and/or following
approval of a prospectus by the competent local authorities, or in
consideration of an exemption from the obligation to prepare a
prospectus or to register or notify the offering.
ENDS
About Ipsen
We are a global biopharmaceutical company with a
focus on bringing transformative medicines to patients in three
therapeutic areas: Oncology, Rare Disease and Neuroscience.
Our pipeline is fueled by external innovation
and supported by nearly 100 years of development experience and
global hubs in the U.S., France and the U.K. Our teams in more than
40 countries and our partnerships around the world enable us to
bring medicines to patients in more than 80 countries.
Ipsen is listed in Paris (Euronext: IPN) and in
the U.S. through a Sponsored Level I American Depositary Receipt
program (ADR: IPSEY). For more information, visit ipsen.com.
Ipsen contacts
Investors
- Craig
Marks | + 44 (0) 7584 349 193
- Nicolas
Bogler | + 33 (6) 52 19 98 92
Media
- Amy
Wolf | + 41 7957 607 23
- Ioana Piscociu | +
33 (6) 69 09 12 96
Disclaimers and/or Forward-Looking
StatementsThe forward-looking statements, objectives and
targets contained herein are based on Ipsen’s management strategy,
current views and assumptions. Such statements involve known and
unknown risks and uncertainties that may cause actual results,
performance or events to differ materially from those anticipated
herein. All of the above risks could affect Ipsen’s future ability
to achieve its financial targets, which were set assuming
reasonable macroeconomic conditions based on the information
available today. Use of the words ‘believes’, ‘anticipates’ and
‘expects’ and similar expressions are intended to identify
forward-looking statements, including Ipsen’s expectations
regarding future events, including regulatory filings and
determinations. Moreover, the targets described in this document
were prepared without taking into account external-growth
assumptions and potential future acquisitions, which may alter
these parameters. These objectives are based on data and
assumptions regarded as reasonable by Ipsen. These targets depend
on conditions or facts likely to happen in the future, and not
exclusively on historical data. Actual results may depart
significantly from these targets given the occurrence of certain
risks and uncertainties, notably the fact that a promising medicine
in early development phase or clinical trial may end up never being
launched on the market or reaching its commercial targets, notably
for regulatory or competition reasons. Ipsen must face or might
face competition from generic medicine that might translate into a
loss of market share. Furthermore, the research and development
process involves several stages each of which involves the
substantial risk that Ipsen may fail to achieve its objectives and
be forced to abandon its efforts with regards to a medicine in
which it has invested significant sums. Therefore, Ipsen cannot be
certain that favorable results obtained during preclinical trials
will be confirmed subsequently during clinical trials, or that the
results of clinical trials will be sufficient to demonstrate the
safe and effective nature of the medicine concerned. There can be
no guarantees a medicine will receive the necessary regulatory
approvals or that the medicine will prove to be commercially
successful. If underlying assumptions prove inaccurate or risks or
uncertainties materialize, actual results may differ materially
from those set forth in the forward-looking statements. Other risks
and uncertainties include but are not limited to, general industry
conditions and competition; general economic factors, including
interest rate and currency exchange rate fluctuations; the impact
of pharmaceutical industry regulation and healthcare legislation;
global trends toward healthcare cost containment; technological
advances, new medicine and patents attained by competitors;
challenges inherent in new-medicine development, including
obtaining regulatory approval; Ipsen’s ability to accurately
predict future market conditions; manufacturing difficulties or
delays; financial instability of international economies and
sovereign risk; dependence on the effectiveness of Ipsen’s patents
and other protections for innovative medicines; and the exposure to
litigation, including patent litigation, and/or regulatory actions.
Ipsen also depends on third parties to develop and market some of
its medicines which could potentially generate substantial
royalties; these partners could behave in such ways which could
cause damage to Ipsen’s activities and financial results. Ipsen
cannot be certain that its partners will fulfil their obligations.
It might be unable to obtain any benefit from those agreements. A
default by any of Ipsen’s partners could generate lower revenues
than expected. Such situations could have a negative impact on
Ipsen’s business, financial position or performance. Ipsen
expressly disclaims any obligation or undertaking to update or
revise any forward-looking statements, targets or estimates
contained in this press release to reflect any change in events,
conditions, assumptions or circumstances on which any such
statements are based, unless so required by applicable law. Ipsen’s
business is subject to the risk factors outlined in its
registration documents filed with the French Autorité des
Marchés Financiers. The risks and uncertainties set out are not
exhaustive and the reader is advised to refer to Ipsen’s latest
Universal Registration Document, available on ipsen.com.
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