MECHELEN, Belgium, Oct. 17, 2014 (GLOBE NEWSWIRE) -- Galapagos NV (Euronext: GLPG) announced that its Board of Directors has created and offered 150,000 warrants under a new warrant plan.
The Board of Directors of Galapagos approved the "Warrant Plan 2014 (B)" within the framework of the authorized capital on 14 October 2014. Under this warrant plan, 150,000 warrants were created (subject to acceptance) and offered to Bart Filius, who will join Galapagos as Chief Financial Officer, effective 1 December 2014.
These warrants have an exercise term of eight years as of the date of the offer and have an exercise price of €11.93 (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. 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 €163,868,834.64; the total number of securities conferring voting rights is 30,292,604, 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 3,471,378, which equals the total number of voting rights that may result from the exercise of these warrants(but excludes the 150,000 warrants of Warrant Plan 2014 (B), which were created subject to acceptance).
Galapagos (Euronext: GLPG; OTC: GLPYY) is specialized in novel modes-of-action, with a pipeline comprising three Phase 2 studies, two Phase 1 studies, five pre-clinical, and 20 discovery small-molecule and antibody programs in cystic fibrosis, inflammation, antibiotics and metabolic disease. In the field of inflammation, AbbVie and Galapagos signed an agreement for the development and commercialization of GLPG0634. GLPG0634 is an orally-available, selective inhibitor of JAK1 for the treatment of rheumatoid arthritis and other inflammatory diseases, currently in Phase 2B studies in RA and in Phase 2 in Crohn's disease. Galapagos has another selective JAK1 inhibitor, GSK2586184 (formerly GLPG0778, in-licensed by GlaxoSmithKline in 2012). AbbVie and Galapagos signed an agreement in cystic fibrosis to develop and commercialize molecules that address mutations in the CFTR gene. Potentiator GLPG1837 is expected to start Phase 1 in 2014. Galapagos also expects to nominate a pre-clinical candidate corrector before year end 2014. The Galapagos Group, including fee-for-service subsidiary Fidelta, has around 400 employees, operating from its Mechelen, Belgium headquarters and facilities in The Netherlands, France, and Croatia. Further information at: www.glpg.com
Elizabeth Goodwin, Head of Corporate Communications & IR
Tel: +31 6 2291 6240
Galapagos forward-looking statements
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