Mechelen, Belgium; 1 April 2009 – Galapagos NV (Euronext: GLPG) announced today that its Board of Directors has created and offered 560,000 warrants under a new warrant plan for Galapagos employees and an independent consultant.
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 1 April 2009 the Board of Directors of Galapagos approved the “Warrant Plan 2009” within the framework of the authorized capital. Under this new warrant plan 560,000 warrants were created (subject to acceptance) and offered, substantially to employees of Galapagos and its affiliates and in secondary order for an independent consultant. These warrants have an exercise period of eight years starting as of the date of the offer. 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 to a beneficiary. 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.
Galapagos (Euronext: GLPG; OTC: GLPYY) is a drug discovery and development company with small molecule programs in bone and joint diseases, bone metastasis, cachexia, anti-infectives and metabolic diseases. It has established risk sharing alliances with GlaxoSmithKline, Janssen Pharmaceutica, Eli Lilly and Merck & Co. Through an alliance with MorphoSys, Galapagos is also developing new antibody therapies in bone and joint diseases. Its division BioFocus DPI offers a full suite of target-to-drug discovery products and services to pharmaceutical and biotech companies and to patient foundations, encompassing target discovery and validation, screening and drug discovery through to delivery of pre-clinical candidates. Galapagos currently employs 480 people and operates facilities in six countries, with global headquarters in Mechelen, Belgium. More info at: www.glpg.com.
Onno van de Stolpe, CEO
Tel: +31 6 2909 8028
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