Ipsen launches employee share ownership plan
Ipsen, (Euronext: IPN; ADR: IPSEY), a global biopharmaceutical group focused on innovation and specialty care today announced the launch of an employee share ownership plan. This plan aims to associate employees with the Group’s development and performance.
The main terms and conditions of this plan are described hereafter.
IPSEN SA, a société anonyme (public limited company) governed by
Listing: Euronext Paris (France)
Common share ISIN: FR0010259150
PURPOSE OF THE TRANSACTION
Through this transaction, which will be launched in 21 countries, Ipsen wishes to more closely associate its employees with the Group’s development and performance.
CONTEXT OF THE TRANSACTION – SECURITIES OFFERED
The Board of Directors decided on December 13, 2017 on the principle of a share offering reserved for employees, and eligible former employees and corporate officers, of the Company and some of its subsidiaries, within the framework of Articles L. 3332-1 et seq. of the French Labor Code, who are members of a plan d’épargne d’entreprise of the Group, limited to of a number of shares representing not more than 1% of the share capital of the Company. The transaction will consist of the sale of existing shares. The number of shares sold under the plan will be limited to the number of shares actually subscribed by the beneficiaries. It is reminded that within the framework of the previous employee shareholding plan implemented by Ipsen in 2016, 0.19% of the share capital had been subscribed by the employees.
The Chief Executive Officer, acting pursuant to the delegation of authority granted to him by the Board of Directors, will set on May 23, 2018, the share subscription price within the framework of the transaction. In accordance with provisions of the French Labor Code, the subscription price will be equal to the average of the Ipsen share opening prices on the Euronext Paris regulated stock exchange during the twenty (20) trading days preceding the date of the Chief Executive Officer’s decision, minus a 20 % discount.
TRANSACTION TERMS AND CONDITIONS
Beneficiaries of the share offering
This offering is carried out pursuant to the terms of Articles L. 3332-18 et seq. of the French Labor Code, in the context of Ipsen’s Plan d’Epargne de Groupe (Group Savings Plan, hereinafter referred to as the “PEG”) and Plan d’Epargne de Groupe International (International Group Savings Plan, hereinafter referred to as the “PEGI”).
It is intended for employees of the Group who have at least three months seniority within the Group and who are located in the following countries: Australia, Belgium, Brazil, Canada, China, Czech Republic, France, Germany, Greece, Ireland, Italy, Mexico, the Netherlands, Poland, Portugal, Romania, Spain, South Korea, Sweden, the United Kingdom, the United States.
Former employees who are either retired or on early retirement and have kept assets in the PEG since they left the Group are eligible to participate in the transaction. They will not, however, benefit from the employer matching contribution.
Beneficiaries will have the option of purchasing Ipsen shares via a single subscription formula that carries a capital loss risk insofar as subscribers’ investment will replicate the upward or downward fluctuation of the Ipsen share price.
Employees will benefit from an employer matching contribution under the conditions described in the documentation prepared for them.
Custody of the Shares
The subscription is carried out via a fonds commun de placement d’entreprise (French collective employee shareholding fund, hereinafter referred to as the “FCPE”) or via direct shareholding.
The FCPE’s Supervisory Board exercises the voting rights attached to the securities held in the FCPE.
Subscribers exercise the voting rights attached to the securities held via direct shareholding.
In accordance with the terms of Article L. 3332-25 of the French Labor Code, the directly subscribed shares as well as the FCPE units will be locked up for a five-year period, except in the event of occurrence of one of the early exit events described in Articles L. 3332-25 and R. 3334-22 of the French Labor Code, as applicable in the various countries in which the offering is proposed.
TENTATIVE SCHEDULE FOR THE TRANSACTION
Setting of the subscription price: May 23, 2018
Subscription period: from May 24 to June 7, 2018
Settlement-delivery of the offering: expected on July 9, 2018
LISTING OF THE SHARES
The Ipsen shares to be purchased within the framework of the employee share plan are admitted to trading on the Euronext Paris stock exchange (ISIN code: FR0010259150).
SPECIFIC NOTIFICATION CONCERNING THE INTERNATIONAL OFFERING
This press release does not constitute an offer to sell or a solicitation to subscribe Ipsen shares. The offering of Ipsen shares is strictly reserved for the above-referenced beneficiaries and will be carried out only in those countries in which such an offering has been registered with, or disclosed to, the relevant local authorities and/or in which a prospectus has been approved by the relevant local authorities, or in which an exemption from the requirement to prepare a prospectus or to register or disclose the offering has been granted.
Ipsen is a global biopharmaceutical group focused on innovation and specialty care. The group develops and commercializes innovative medicines in three key therapeutic areas - Oncology, Neuroscience and Rare Diseases. Its commitment to oncology is exemplified through its growing portfolio of key therapies for prostate cancer, neuroendocrine tumors, renal cell carcinoma and pancreatic cancer. Ipsen also has a well-established Consumer Healthcare business. With total sales over €1.9 billion in 2017, Ipsen sells more than 20 drugs in over 115 countries, with a direct commercial presence in more than 30 countries. Ipsen's R&D is focused on its innovative and differentiated technological platforms located in the heart of the leading biotechnological and life sciences hubs (Paris-Saclay, France; Oxford, UK; Cambridge, US). The Group has about 5,400 employees worldwide. Ipsen is listed in Paris (Euronext: IPN) and in the United States through a Sponsored Level I American Depositary Receipt program (ADR: IPSEY). For more information on Ipsen, visit www.ipsen.com
For further information :
Ian Weatherhead, +44 (0) 1753 627733
Vice President, Corporate External Communications
Brigitte Le Guennec, +33 (0)1 58 33 51 17
Senior Manager, Global External Communications
Eugenia Litz, +44 (0) 1753 627721
Vice President, Investor Relations
Myriam Koutchinsky, +33 (0)1 58 33 51 04
Investor Relations Manager
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Gilead Presents New Data on Biktarvy® for the Treatment of HIV in Women and in Virologically Suppressed Patients With Known Resistance22.7.2019 16:00:00 CEST | Press release
Gilead Sciences, Inc. (NASDAQ: GILD) today presented findings from two Phase 3 trials – a trial demonstrating the effectiveness of switching to Biktarvy (bictegravir 50mg/emtricitabine 200mg/tenofovir alafenamide 25mg tablets, B/F/TAF) in women, and a trial evaluating the potential for the single tablet regimen to be an effective treatment option in virologically suppressed patients with known resistance to nucleo(s)tide or non-nucleo(s)tide reverse transcriptase inhibitors (NRTIs or NNRTIs). The use of Biktarvy in patients with known drug resistance is investigational. These data were presented at the 10th International AIDS Society Conference on HIV Science (IAS 2019) being held in Mexico City. “These data presented at IAS provide new information about the treatment of HIV among women and patients with known drug resistance,” said Diana Brainard, MD, Senior Vice President, HIV and Emerging Viruses, Gilead Sciences. “The studies further demonstrate the potential for Biktarvy to be an
IBC Celebrates Young Talent in the Industry22.7.2019 15:36:00 CEST | Press release
The media, entertainment and technology industry is changing. Attitudes are shifting, the next generation is consuming content differently to any before them and diverse and exciting content is being created to meet that demand in innovative formats. Driving this change is a new wave of industry talent, honoured at IBC with the first IBC Young Pioneer Award. Recognising the brightest, newest talent in the industry, this award will go to someone who has made a real impact with their passion, ambition and commitment and is making an outstanding contribution to our industry. “What we were looking for in the shortlist was, most importantly, real talent, a stand-out individual making a real difference in the industry,” said David Levine, VP, Programming - Kids, Europe & Africa/UK & Ireland, The Walt Disney Co. Ltd and Chair of the Judging Panel. “But we were also looking for a lasting legacy, for the Young Pioneer to be a leader today and a media guru of the future.” The call for entries so
Gilead Presents Proof-of-Concept Data for GS-6207, a First-in-Class Capsid Inhibitor, in People Living With HIV22.7.2019 15:00:00 CEST | Press release
Gilead Sciences, Inc. (NASDAQ: GILD) today presented the first clinical data in people living with HIV on GS-6207, an investigational, novel, selective, first-in-class inhibitor of HIV capsid function. The Phase 1b data demonstrate the first proof of concept that HIV capsid inhibition can lead to significant declines in viral load in vivo. In addition, Gilead presented preclinical data demonstrating that resistance to GS-6207 in vitro did not lead to resistance to other classes of drugs used in the treatment of HIV. These data were presented at the 10th International AIDS Society Conference on HIV Science (IAS 2019) in Mexico City. GS-6207 is an investigational long-acting antiretroviral agent that can be delivered subcutaneously. GS-6207 recently received breakthrough therapy designation from the U.S. Food and Drug Administration (FDA) as a potential therapy for heavily treatment-experienced people living with multi-drug resistant HIV. GS-6207 acts in a novel way compared with current
Pacific Drilling Appoints James W. Harris as Chief Financial Officer22.7.2019 13:42:00 CEST | Press release
Pacific Drilling S.A. (NYSE: PACD), one of the world’s leading deepwater drilling contractors, today announced that Pacific Drilling’s Board has appointed James W. Harris to serve as the Company’s Senior Vice President and Chief Financial Officer. Mr. Harris replaces Mr. Johannes (John) P. Boots, who, as previously announced, mutually agreed with the Company to step down from his position to pursue other opportunities. Mr. Harris has more than 30 years of experience in the energy industry in a variety of financial leadership, strategic and business planning roles. He most recently served as Executive Vice President, Drilling & Subsea for Forum Energy Technologies, Inc., having previously served Forum as Chief Financial Officer for 12 years. Bernie Wolford, the Company’s Chief Executive Officer, stated, “We sincerely appreciate the many contributions that John has made during his nearly 10-year tenure with Pacific Drilling and we wish him all the best in his future endeavors.” “We are e
Moody’s Analytics Wins Credit Data Provider of the Year at Risk Technology Awards22.7.2019 11:00:00 CEST | Press release
Moody’s Analytics, a global provider of financial intelligence, has won Credit Data Provider of the Year in the 2019 Risk Technology Awards. It’s one of six categories won, spanning finance, accounting, regulatory, and credit functions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190722005025/en/ The combined strength of Moody’s Analytics offerings earned the Credit Data Provider of the Year award. “We’re honored by this recognition,” said Jacob Grotta, Managing Director-Head of Risk & Finance Analytics. “Credit data challenges take many forms, and our capabilities are exemplified in a range of award-winning solutions.” Our Data Alliance is among the world’s largest and most comprehensive data consortia. Its global contributors share origination and performance data in C&I, CRE, project finance, asset finance, and other asset classes – and in return receive benchmarking across a host of metrics as well as detailed reports
U.N. Environment Programme Urged to Protect Nature and Humankind from Electromagnetic Fields (EMF)22.7.2019 11:00:00 CEST | Press release
The Advisors to the International EMF Scientist Appeal, representing 248 scientists from 42 nations, have resubmitted The Appeal to the United Nations Environment Programme (UNEP) Executive Director, Inger Andersen, requesting the UNEP reassess the potential biological impacts of next generation 4G and 5G telecommunication technologies to plants, animals and humans. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190722005154/en/ Ronald L. Melnick, PhD, who led the design of the large $30 million NIH/NTP Animal Study, which showed Radio Frequency Radiation emitted by cell phones and wireless devices causes cancer, confirms that the previously held assumption the radiation cannot cause cancer, or other adverse health effects, is wrong. (Photo: Business Wire) There is particular urgency at this time as new antennas will be densely located throughout residential neighborhoods using much higher frequencies, with greater biologica