Galapagos announces appointment of Ronald Brus to Board

30-Apr-2010 - Belgium

Galapagos NV announced that its Annual General Shareholders' Meeting (AGM) held on 27 April 2010 approved Dr. Ronald Brus' appointment to the Board of Directors, as well as all other agenda items of the AGM. Furthermore, the Extraordinary General Shareholders' Meeting (EGM) held immediately after the AGM approved the creation of a new Warrant Plan for the benefit of the Directors. In addition, the Board of Directors approved the creation of a new Warrant Plan for the benefit of employees and independent consultants of the Company.

At the AGM, Galapagos shareholders approved the appointment of Dr. Ronald Brus as member of the Board of Directors for a period until the 2014 AGM. Ronald Brus (1963) is President and Chief Executive Officer of Crucell. He joined Crucell in 1997, holding various management positions before becoming Crucell's CEO in 2004. From 1994 to 1996, Dr. Brus was product planning physician at Forest Laboratories and from 1990 to 1994 he was Medical Director for Zambon BV. He holds a medical degree from the University of Groningen. Dr. Brus was already a member of the Galapagos Board of Directors from 2000 until Galapagos' IPO in May 2005.

"We are pleased to welcome Ronald back to our Board of Directors," said Onno van de Stolpe, CEO of Galapagos. "Ronald has been involved with Galapagos from the start and brings the experience of building one of Europe's largest and most successful biotech companies. Both of these factors make him a great asset to Galapagos going forward."

Galapagos also announced at the AGM that its Board member Dr. Rudi Pauwels has resigned from the Board as from the date of the AGM, to be able to fully focus on his recently incorporated new company. "We thank Rudi, who was one of the co-founders of Galapagos, for serving on our Board during the last three years and for his highly valued contribution in particular with respect to the development of Galapagos' portfolio of projects in the clinic. We wish him all the best with his new endeavors," Van de Stolpe commented.

Furthermore, Galapagos announced that its EGM held on 27 April 2010 approved the "Warrant Plan 2010 (B)", creating (subject to acceptance) 197,560 warrants for the benefit of the Directors of the Company. These warrants have an exercise period of five years starting as of the date of the offer. Also on 27 April 2010, the Board of Directors, using the authorized capital, created the Warrant Plan 2010 for the benefit of certain employees and independent consultants of the Company and its subsidiaries. Under this plan 616,000 were created (subject to acceptances), with an exercise period of eight years starting as of the date of the offer.

The warrants created under the Warrant Plan 2010 and the Warrant Plan 2010 (B) were offered to the beneficiaries on 27 April 2010, and have an exercise price of €11.55 (thirty days average closing price of the share on Euronext Brussels preceding date of the offer). The warrants created under these plans 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 the beneficiaries. 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.

https://www.bionity.com/en/news/116963/galapagos-announces-appointment-of-ronald-brus-to-board.html