Events after the end of the reporting period
On 17 April 2020, the board of directors of Galapagos approved “Subscription Right Plan 2020 RMV”, a subscription right1“Subscription rights” is the new term for instruments formerly referred to as “warrants”, under the revised Belgian Code of Companies and Associations. plan intended for the employees of its French subsidiary, Galapagos SASU, and “Subscription Right Plan 2020”, a subscription right plan intended for other members of the personnel of the company and its subsidiaries, within the framework of the authorized capital. Under these subscription right plans, 2,280,500 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 €168.42 (the average closing price of the share on Euronext Amsterdam and Brussels during the thirty days preceding the date of the offer). The subscription rights are not transferable and can in principle not be exercised prior to 1 January 2024. Each subscription right gives the right to subscribe to one new Galapagos share.
1 “Subscription rights” is the new term for instruments formerly referred to as “warrants”, under the revised Belgian Code of Companies and Associations.