Galapagos creates new subscription rights plans

On May 16, the Board of Directors of Galapagos (GLPG) 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 EUR 26.90. 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 exercisable in instalments: with 25% of each grant being exercisable as of 1 January 2026, 25% as of 1 January 2027 and 50% as of 1 January 2028. Galapagos’ total share capital currently amounts to EUR 356,444,938.61; the total number of securities conferring voting rights is 65,897,071, 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 to subscribe to not yet issued securities conferring voting rights is (i) 11,376,759 subscription rights under several outstanding employee subscription right plans, which equals 11,376,759 voting rights that may result from the exercise of those subscription rights, and (ii) two subscription rights issued to Gilead Therapeutics (GILD) to subscribe for a maximum number of shares that is sufficient to bring the shareholding of Gilead and its affiliates to 29.9% of the actually issued and outstanding shares after the exercise of the subscription rights.