MECHELEN, BELGIUM--(Marketwire -09/03/12)- Galapagos NV (GLPGF) announced today that its Board of Directors created 530,140 warrants under a new warrant plan for the benefit of employees, directors and independent consultants of the Company and its subsidiaries.
On 3 September 2012, the Board of Directors of Galapagos approved the "Warrant Plan 2012" within the framework of the authorized capital. Under this warrant plan, 530,140 warrants were created, subject to acceptances.
The warrants created under Warrant Plan 2012 were offered on 3 September 2012, mainly to employees of Galapagos and its subsidiaries and in secondary order to its directors and consultants. The offer of warrants to directors has been pre- approved by the Extraordinary General Shareholders' Meeting held on 22 August 2012.
The warrants have an exercise term of eight years as of the date of the offer and have an exercise price of EUR14.19 (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 EUR143,770,414.14; the total number of securities conferring voting rights is 26,577,554, 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 3,696,502, which equals the total number of voting rights that may result from the exercise of these warrants. Galapagos does not have any convertible bonds or shares without voting rights outstanding.
About Galapagos Galapagos (GLPGF) (GLPYY) is a mid-size clinical stage biotechnology company specialized in the discovery and development of small molecule and antibody therapies with novel modes-of-action. The Company is progressing its JAK1 inhibitor GLPG0634, as well as one of the largest pipelines in biotech, with four programs in development and over 30 discovery programs. The Galapagos Group has over 800 employees and operates facilities in six countries, with global headquarters in Mechelen, Belgium. More info at: www.glpg.com
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Source: Galapagos NV via Thomson Reuters ONE [HUG#1638375]