Galapagos creates new subscription right plans
May 16 2024 - 4:01PM
Mechelen, Belgium; 16 May 2024, 22:01 CET;
regulated information – Galapagos NV (Euronext & NASDAQ:
GLPG) announced today that its Board of Directors
created 1,614,000 subscription rights under new
subscription right plans for the benefit of certain members of the
personnel of the company and its subsidiaries.
On 16 May 2024, the Board of Directors of
Galapagos approved “Subscription Right Plan 2024 BE”, intended for
members of personnel of the company, “Subscription Right Plan 2024
RMV,” intended for the employees of its French subsidiary,
Galapagos SASU, and “Subscription Right Plan 2024 ROW”, primarily
intended for the employees of its other non-Belgian subsidiaries,
within the framework of the authorized capital. Under these
subscription right plans, 1,614,000 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 €26.90 (the closing price of the Galapagos share on Euronext
Brussels and Amsterdam on the day preceding the date of the offer).
Subject to the applicable plan rules, the subscription rights under
Subscription Right Plan 2024 BE cannot be exercised prior to 1
January 2028. The subscription rights under Subscription Right Plan
2024 RMV and Subscription Right Plan 2024 ROW vest and become
exercisable in instalments: with 25% of each grant being
exercisable as of 1 January 2026, 25% as of 1 January 2027 and
50% as of 1 January 2028. 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) 11,376,759 subscription rights
under several outstanding employee subscription right plans, which
equals 11,376,759 voting rights that may result from the exercise
of those subscription rights, and (ii) two subscription rights
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 rights. This excludes
the 1,614,000 subscription rights of Subscription Right Plan 2024
BE, Subscription Right Plan 2024 RMV and Subscription Right Plan
2024 ROW, which were created subject to acceptance. Galapagos does
not have any convertible bonds or shares without voting rights
outstanding.
About GalapagosWe are a
biotechnology company with operations in Europe and the U.S.
dedicated to developing transformational medicines for more years
of life and quality of life. Focusing on high unmet medical needs,
we synergize compelling science, technology, and collaborative
approaches to create a deep pipeline of best-in-class small
molecules, CAR-T therapies, and biologics in oncology and
immunology. With capabilities from lab to patient, including a
decentralized CAR-T manufacturing network, we are committed to
challenging the status quo and delivering results for our patients,
employees and shareholders. For additional information, please
visit www.glpg.com or follow us
on LinkedIn or X (formerly Twitter).
For further information, please
contact:
Media
inquiries:Marieke Vermeersch +32 479 490
603 media@glpg.com Jennifer Wilson + 44 7444
896759media@glpg.com |
Investor
inquiries:Sofie Van Gijsel +1 781 296
1143ir@glpg.comSandra Cauwenberghs +32 495 58 46
63ir@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.
- Press Release Subscription Right Plans 2024_ENG
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