Galapagos creates new subscription right plans
May 05 2023 - 4:01PM
Mechelen,
Belgium; 5
May
2023,
22:01 CET;
regulated information –
Galapagos NV
(Euronext & NASDAQ:
GLPG) announced today that its
Board of
Directors
created
1,975,000
subscription rights under
new subscription right
plans
for the benefit of certain members
of the personnel
of the
company and its
subsidiaries.
On 5 May 2023, the Board of Directors of Galapagos approved
“Subscription Right Plan 2023 BE”, intended for members of
personnel of the company and its Belgian subsidiary, “Subscription
Right Plan 2023 RMV,” intended for the employees of its French
subsidiary, Galapagos SASU, and “Subscription Right Plan 2023 ROW”,
intended for the employees of its other non-Belgian subsidiaries,
within the framework of the authorized capital. Under these
subscription right plans, 1,975,000 subscription rights were
created, subject to acceptances, and offered to the beneficiaries
of the plans.
The subscription rights have an exercise term of
eight years as of the date of the offer and have an exercise price
of €35.11 (the average closing price of the Galapagos share on
Euronext Brussels and Amsterdam during the 30 calendar days
preceding the date of the offer). Subject to the applicable plan
rules, the subscription rights under Subscription Right Plan 2023
BE can not be exercised prior to 1 January 2027. The subscription
rights under Subscription Right Plan 2023 RMV and Subscription
Right Plan 2023 ROW vest and become exercisable in instalments:
with 25% of each grant being exercisable as of 1 January 2025,
25% as of 1 January 2026 and 50% as of 1 January 2027. 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 €356,444,938.61; the total number of securities conferring
voting rights is 65,897,071, 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 to subscribe to not yet issued securities
conferring voting rights is (i) 10,674,631 subscription rights
under several outstanding employee subscription right plans, which
equals 10,674,631 voting rights that may result from the exercise
of those subscription rights, and (ii) one subscription right
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 29.9% of the actually issued and outstanding
shares after the exercise of the subscription right. This excludes
the 1,975,000 subscription rights of Subscription Right Plan 2023
BE, Subscription Right Plan 2023 RMV and Subscription Right Plan
2023 ROW, which were created subject to acceptance. Galapagos does
not have any convertible bonds or shares without voting rights
outstanding.
About GalapagosGalapagos is a
fully integrated biotechnology company focused on discovering,
developing, and commercializing innovative medicines. We are
committed to improving patients’ lives worldwide by targeting
diseases with high unmet needs. Our R&D capabilities cover
multiple drug modalities, including small molecules and cell
therapies. Our portfolio comprises discovery through to
commercialized programs in immunology, oncology, and other
indications. Our first medicine for rheumatoid arthritis and
ulcerative colitis is available in Europe and Japan. For additional
information, please visit www.glpg.com or follow us
on LinkedIn or Twitter.
Contacts
Media relations contactMarieke
Vermeersch +32 479 490
603 media@glpg.com |
Investor relations
contact Sofie Van
Gijsel +1 781 296 1143 Sandra
Cauwenberghs +32 495 58 46
63 ir@glpg.com |
Forward-looking statements
This 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.
- Galapagos creates new subscription right plans
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