Galapagos creates new subscription right plans
April 17 2020 - 4:01PM
Galapagos creates new subscription right plans
Mechelen, Belgium; 17 April 2020, 22.01
CET; regulated information –– Galapagos NV (Euronext &
NASDAQ: GLPG) announced today that its board of directors
created 2,280,500 subscription rights1 under new
subscription right plans for the benefit of the personnel of the
company and its subsidiaries.
On 17 April 2020, the board of directors of
Galapagos approved “Subscription Right Plan 2020 RMV,” intended for
the employees of its French subsidiary, Galapagos SASU, and
“Subscription Right Plan 2020”, intended for other members of
personnel of the company and its subsidiaries, within the framework
of the authorized capital. Under these subscription right plans,
2,280,500 subscription rights were created, subject to acceptances,
and offered to the beneficiaries of the plans.
The offer of subscription rights to our CEO, Mr.
Onno van de Stolpe, remains subject to approval of the annual
shareholders’ meeting of 28 April 2020.
The subscription rights have an exercise term of
eight years as of the date of the offer and have an exercise price
of €168.42 (the average closing price of the share on Euronext
Amsterdam and Brussels during the thirty days preceding the date of
the offer). The subscription rights are not transferable and in
principle cannot be exercised prior to 1 January 2024. Each
subscription right gives the right to subscribe to one new
Galapagos share. Should the subscription rights be exercised,
Galapagos will apply for the listing of the resulting new shares on
a regulated stock market. The subscription rights as such will not
be listed on any stock market.
Galapagos’ total share capital currently amounts
to €350,612,693.52; the total number of securities conferring
voting rights is 64,819,022, 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 (formerly known as warrants) to subscribe to
not yet issued securities conferring voting rights is (i) 5,383,847
warrants under several outstanding employee warrant plans, which
equals 5,383,847 voting rights that may result from the exercise of
those warrants, and (ii) two warrants issued to Gilead Therapeutics
to subscribe for a maximum number of shares that is sufficient to
bring the shareholding of Gilead and its affiliates to 25.1% and
29.9%, respectively, of the actually issued and outstanding shares
after the exercise of the relevant warrant. This excludes the
2,280,500 subscription rights of Subscription Right Plan 2020 and
Subscription Right Plan 2020 RMV, which were created subject to
acceptance. Galapagos does not have any convertible bonds or shares
without voting rights outstanding.
About Galapagos
Galapagos (Euronext & NASDAQ: GLPG)
discovers and develops small molecule medicines with novel modes of
action, three of which show promising patient results and are
currently in late-stage development in multiple diseases. Our
pipeline comprises discovery through Phase 3 programs in
inflammation, fibrosis, osteoarthritis and other indications. Our
ambition is to become a leading global biopharmaceutical company
focused on the discovery, development and commercialization of
innovative medicines. More information at www.glpg.com.
Investors:Elizabeth GoodwinVP
Investor Relations +1 781 460 1784
Sofie Van GijselDirector IR +32 485 19 14
15ir@glpg.com
Media:Carmen VroonenSenior
Director Communications & Public Affairs+32 473 82 48 74
Evelyn FoxDirector Communications +31 6 53 591
999 communications@glpg.com
Forward-looking statementsThis
release may contain forward-looking statements. Such
forward-looking statements are not guarantees of future results.
These forward-looking statements speak only as of the date of
publication of this document. Galapagos expressly disclaims any
obligation to update any forward-looking statements in this
document, unless specifically required by law or regulation.
1 “Subscription rights” is the new term for
instruments formerly referred to as “warrants,” under the revised
Belgian Code of Companies and Associations.
Galapagos (EU:GLPG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Galapagos (EU:GLPG)
Historical Stock Chart
From Jul 2023 to Jul 2024