GLPG - Galapagos creates new subscription right plans | Benzinga
Mechelen, Belgium; 16 May 2024, 22:01 CET; regulated information – Galapagos NV ((Euronext &, NASDAQ:GLPG) announced today that its Board of Directors created 1,614,000 subscription rights under new subscription right plans for the benefit of certain members of the personnel of the company and its subsidiaries.
On 16 May 2024, the Board of Directors of Galapagos approved "Subscription Right Plan 2024 BE", intended for members of personnel of the company, "Subscription Right Plan 2024 RMV," intended for the employees of its French subsidiary, Galapagos SASU, and "Subscription Right Plan 2024 ROW", primarily intended for the employees of its other non-Belgian subsidiaries, within the framework of the authorized capital. Under these subscription right plans, 1,614,000 subscription rights were created, subject to acceptances, and offered to the beneficiaries of the plans.
The subscription rights have an exercise term of eight years as of the date of the offer and have an exercise price of €26.90 (the closing price of the Galapagos share on Euronext Brussels and Amsterdam on the day preceding the date of the offer). Subject to the applicable plan rules, the subscription rights under Subscription Right Plan 2024 BE cannot be exercised prior to 1 January 2028. The subscription rights under Subscription Right Plan 2024 RMV and Subscription Right Plan 2024 ROW vest and become ...