August 26, 2019 / 5:44 AM / a month ago

CORRECTED-BRIEF-Galapagos Files Application To Initiate Insolvency Proceedings

(Corrects throughout to show the alerts were from Galapagos SA, not from Galapagos NV)

Aug 25 (Reuters) - Galapagos SA:

* GALAPAGOS-FILED APPLICATION TO INITIATE INSOLVENCY PROCEEDINGS WITH COMPETENT LOCAL COURT OF DÜSSELDORF DUE TO PENDING ILLIQUIDITY & OVER-INDEBTEDNESS

* GALAPAGOS-BY WAY OF ORDER OF 23 AUGUST 2019 LOCAL COURT OF DÜSSELDORF APPOINTED FRANK KEBEKUS AS PRELIMINARY INSOLVENCY ADMINISTRATOR OF ASSETS OF CO

* GALAPAGOS-NO ENFORCEMENT OVER SHARES IN & PREFERRED EQUITY CERTIFICATES OF GALAPAGOS BIDCO MAY OCCUR DURATION OF PRELIMINARY INSOLVENCY PROCEEDINGS

* GALAPAGOS-ALSO ANNOUNCES IT NO LONGER ENVISAGES IMPLEMENTING TRANSACTION PREVIOUSLY ANNOUNCED & AS DEFINED IN, CO’S ANNOUNCEMENT ON 7 JUNE 2019

* COMPANY WITHDREW ITS INSTRUCTIONS TO ITS COUNSEL TO PROCEED WITH APPLICATION IN ENGLISH HIGH COURT

* CO OPPOSED MAKING OF ANY ADMINISTRATIVE ORDER IN ENGLISH HIGH COURT

* GALAPAGOS - DISMISSED MATTHEW CHARLES TURNER, AND JOHN SAMUEL KEEN, AS DIRECTORS WITH EFFECT AS OF DATE HEREOF

* APPOINTED JAN BAYER AS SOLE DIRECTOR OF COMPANY, WITH EFFECT AS OF DATE HEREOF Source text for Eikon: Further company coverage:

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