Galapagos creates new warrant plan
May 01 2015 - 12:04PM
Galapagos NV (Euronext: GLPG) announced today that its
Board of Directors created 625,740 warrants under a new
warrant plan for the benefit of employees, directors and an
independent consultant of the Company and its
subsidiaries.
On 30 April 2015, the Board of Directors of
Galapagos approved the "Warrant Plan 2015" within the framework of
the authorized capital. Under this warrant plan, 625,740
warrants were created, subject to acceptances.
The warrants created under Warrant Plan 2015
were offered on 30 April 2015, 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
28 April 2015.
The warrants have an exercise term of eight
years as of the date of the offer and have an exercise price of
€28.75 (the average closing price of the share on Euronext Brussels
during the thirty days preceding the 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 €166,996,209.57; the total number of securities conferring
voting rights is 30,870,677, 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 3,019,305, which
equals the total number of voting rights that may result from the
exercise of these warrants, and excludes the 625,740 warrants of
Warrant Plan 2015 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 a
clinical-stage biotechnology company specialized in the discovery
and development of small molecule medicines with novel modes of
action, with a pipeline comprising three Phase 2 programs, two
Phase 1 trials, five pre-clinical studies, and 25 discovery
small-molecule and antibody programs in cystic fibrosis,
inflammation, and other indications. In the field of
inflammation, AbbVie and Galapagos signed a collaboration agreement
for the development and commercialization of filgotinib.
Filgotinib 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 reported good activity
and a favorable safety profile at 12 weeks in both the DARWIN 1 and
2 trials in RA. AbbVie and Galapagos also signed a
collaboration agreement in cystic fibrosis to develop and
commercialize molecules that address mutations in the CFTR
gene. Potentiator GLPG1837 is currently in a Phase 1 trial,
and corrector GLPG2222 is at the pre-clinical candidate
stage. GLPG1205, a first-in-class inhibitor of GPR84 and
fully-owned by Galapagos, is currently being tested in a Phase 2
proof-of-concept trial in ulcerative colitis patients.
GLPG1690, a fully proprietary, first-in-class inhibitor of
autotaxin, has shown favorable safety in a Phase 1 trial and is
expected to enter Phase 2 in idiopathic pulmonary fibrosis.
The Galapagos Group, including fee-for-service subsidiary Fidelta,
has approximately 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 & IR Tel: +31 6 2291 6240
ir@glpg.com
This release may contain forward-looking
statements, including, without limitation, statements concerning
anticipated progress, objectives and expectations regarding the
commercial potential of our product candidates, intended product
development, clinical activity timing, and other objectives and
explanations, all of which involve certain risks and uncertainties.
These statements are often, but are not always, made through the
use of words or phrases such as "believes," "anticipates,"
"expects," "intends," "plans," "seeks," "estimates," "may," "will,"
"could," "stands to," "continues," "we believe," "we intend," 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. Among the factors that
may result in differences are the inherent uncertainties associated
with competitive developments, clinical trial and product
development activities, regulatory approval requirements and
estimating the commercial potential of our product candidates.
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.
HUG#1918051
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