Mechelen, Belgium; 27 March 2015 - Galapagos NV (Euronext: GLPG) announced today a share capital increase arising from warrant exercises. Board members invest €2.1 million in Galapagos by exercising warrants.
Since its inception in 1999, Galapagos has used warrant plans to incentivize personnel and management and have them share in the success of the company. Following warrant exercises during the exercise period from 9 March 2015 through 22 March 2015, Galapagos issued 571,548 new ordinary shares for a total capital increase (including issuance premium) of €5,819,033.48.
CEO Onno van de Stolpe exercised 100,000 warrants to hold as shares. Onno van de Stolpe currently holds 464,226 shares in Galapagos, representing 1.5% of the outstanding Galapagos shares. The Chairman of the Board of Directors, Dr Raj Parekh, exercised 75,000 warrants to hold as shares. In addition, Board members Dr Werner Cautreels and Dr Harrold van Barlingen exercised 2,520 warrants and 7,500 warrants, respectively, also to hold as shares. Together, the CEO and the other Board members invested €2.1 million in Galapagos by exercising these warrants with an exercise price of €11.55 per share. All of these warrants were due to expire on 26 April 2015.
Dr Piet Wigerinck and Dr Andre Hoekema of the Executive Committee exercised an aggregate number of 5,000 warrants to hold as shares under the Galapagos' Executive Committee warrant exercise program whereby members have made a commitment to exercise a minimum number of warrants during subsequent exercise periods, subject to certain conditions.
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. Galapagos does not have any convertible bonds or shares without voting rights outstanding.
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. GLPG1205, a first-in-class inhibitor of GPR84, is currently being tested in a Phase 2 proof-of-concept trial in ulcerative colitis patients. GLPG1690, a 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. 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. 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
Elizabeth Goodwin, Head of Corporate Communications & IR
Tel: +31 6 2291 6240
Galapagos forward-looking statements
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