Galapagos creates new warrant plan
May 01 2015 - 12:00PM
Mechelen,
Belgium; 1 May 2015 - 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.
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information contained therein.
Source: Galapagos NV via Globenewswire
HUG#1918051
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