Mechelen, Belgium; 7 February 2011 - Galapagos NV (Euronext: GLPG) announced today that its Board of Directors has created and offered 75,000 warrants under a new warrant plan.
Since its inception in 1999, Galapagos has used warrant plans to allow personnel and management to be involved in the company's growth and development. On 23 December 2010 the Board of Directors of Galapagos approved "Warrant Plan 2010 (C)" within the framework of the authorized capital. Under this new warrant plan 75,000 warrants were offered to Dr Radan Spaventi, who joined Galapagos' Executive Committee as Senior Vice President following the Group's acquisition of the Zagreb unit in September 2010. These warrants have an exercise price of €11.74 per warrant (30 days average closing price prior to offer date 23 December 2010) and an exercise period of eight years starting as of the offer date. The acceptance of these warrants and their issuance was established by notary deed of 24 January 2011.
The warrants are not transferable and cannot be exercised prior to the end of the third calendar year after the 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 admitted to listing on any stock market.
To date, Galapagos' total share capital amounts to €142,590,770.44; the total number of securities conferring voting rights is 26,358,984, which is also the total number of voting rights (the "denominator"); 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 which confer voting rights is 2,730,153, which is also the total number of voting rights that may result from the exercise of these warrants. Galapagos does not have outstanding any in voting securities convertible bonds nor shares without voting rights.
Galapagos (Euronext: GLPG; OTC: GLPYY) is a mid-size biotechnology company specialized in the discovery and development of small molecule and antibody therapies with novel modes-of-action. The Company is progressing one of the largest pipelines in biotech, with seven clinical and over 50 discovery programs. Through risk/reward-sharing alliances with GlaxoSmithKline, Lilly, Janssen Pharmaceutica, Roche and Servier, Galapagos is eligible to receive up to €2.5 billion in downstream milestones, plus royalties. The Galapagos Group has over 800 employees and operates facilities in seven countries, with global headquarters in Mechelen, Belgium. More info at: www.glpg.com
Elizabeth Goodwin, Director Investor Relations
Tel: +31 6 2291 6240
This release may contain forward-looking statements, including, without limitation, statements containing the words "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," "will," "could," "stands to," and "continues," 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. 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.