Galapagos creates new warrant plan
26 July 2014 - 2:00AM
Mechelen,
Belgium; 25 July 2014 - Galapagos NV (Euronext: GLPG) announced
today that its Board of Directors created
666,760 warrants under a new warrant plan for the benefit of
employees, directors and an independent consultant of the Company
and its subsidiaries.
On 25 July 2014, the Board of
Directors of Galapagos approved the "Warrant Plan 2014" within the
framework of the authorized capital. Under this warrant plan,
666,760 warrants were created, subject to acceptances.
The warrants created under Warrant
Plan 2014 were offered on 25 July 2014, mainly to employees of
Galapagos and its subsidiaries and in secondary order to its
directors and an independent consultant. The offer of
warrants to directors has been pre-approved by the Annual
Shareholders' Meeting held on 29 April 2014.
The warrants have an exercise term
of eight years as of the date of the offer and have an exercise
price of €14.54 (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 €163,802,508.04; the total number of securities
conferring voting rights is 30,280,344, 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 2,911,978,
which equals the total number of voting rights that may result from
the exercise of these warrants, and excludes the 666,760 warrants
of Warrant Plan 2014 which were created subject to acceptances.
Galapagos does not have any convertible bonds or shares
without voting rights outstanding.
About
Galapagos
Galapagos (Euronext: GLPG; OTC: GLPYY) is specialized in novel
modes-of-action, with a large pipeline comprising five Phase 2
studies (two led by GSK), two Phase 1 studies, four pre-clinical,
and 20 discovery small-molecule and antibody programs in cystic
fibrosis, inflammation, antibiotics, metabolic disease, and other
indications. In the field of inflammation, AbbVie and
Galapagos signed a worldwide license agreement whereby AbbVie will
be responsible for further development and commercialization of
GLPG0634 after Phase 2B. GLPG0634 is an orally-available,
selective inhibitor of JAK1 for the treatment of rheumatoid
arthritis and potentially other inflammatory diseases, currently in
Phase 2B studies in RA and in Phase 2 in Crohn's disease.
Galapagos has another selective JAK1 inhibitor in Phase 2 in
ulcerative colitis and psoriasis, GSK2586184 (formerly GLPG0778,
in-licensed by GlaxoSmithKline in 2012). GLPG0974 is the
first inhibitor of FFA2 to be evaluated clinically for the
treatment of IBD; this program has completed a Proof-of-Concept
Phase 2 study. GLPG1205 is a first-in-class molecule that
targets inflammatory disorders and has completed Phase 1.
GLPG1690 is a first-in-class compound that targets pulmonary
diseases and is currently in a Phase 1 study. AbbVie and
Galapagos signed an agreement in CF whereby they work
collaboratively to develop and commercialize oral drugs that
address two mutations in the CFTR gene, the G551D and F508del
mutation. Potentiator GLPG1837 is at the pre-clinical
candidate stage. The Galapagos Group, including
fee-for-service subsidiary Fidelta, has around 400 employees,
operating from its Mechelen, Belgium headquarters and facilities in
The Netherlands, France, and Croatia. Further information at:
www.glpg.com
Contact
Galapagos NV
Elizabeth Goodwin, Head of Corporate Communications & Investor
Relations
Tel: +31 6 2291 6240
ir@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-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.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Galapagos NV via Globenewswire
HUG#1838430
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