Ipsen Announces the Launch of an Employee Shareholding Plan
Ipsen (Euronext: IPN; ADR: IPSEY), a global specialty biopharmaceutical group, announces the launch of an Employee Shareholding plan.
This third transaction in the last five years, aims to involve Ipsen's employees more closely, both in France and abroad, in the group's development and performance. It will be launched in 21 countries.
This transaction reserved for employees will be carried out through the sale of existing shares reserved for members of a Company savings plan. It will be capped to a number of shares representing a maximum of 1% of the Company's share capital.
Upon delegation of the Board of Directors, the Chief Executive Officer has set the subscription price of a share in the context of this transaction on 1 June 2021. The subscription price of a share corresponds to the average opening prices of the Ipsen share on Euronext Paris during the twenty (20) trading days preceding the decision of the Chief Executive Officer, less a 20% discount. The subscription price is €66.10.
Beneficiaries of the Offering
The offering is carried out pursuant to Articles L. 3332-18 et seq. of the French Labour Code, within the framework of Ipsen's Group Savings Plan (GSP) and International Group Savings Plan. Ipsen employees will benefit from an employer matching contribution.
It is intended for the Group employees with at least three months' seniority and who are located in the following countries: Australia, Belgium, Brazil, Canada, China, Czech Republic, France, Germany, Greece, Ireland, Italy, Mexico, Netherlands, Poland, Portugal, Romania, South Korea, Spain, Sweden, the U.K. and the U.S.
Former retired and pre-retired employees who have retained assets in the GSP since leaving the Group are also eligible to participation in the transaction, without the benefit of the employer matching contribution.
The shares subscribed to, in registered form or through a Fonds Commun de Placement d’Entreprise (FCPE), will be locked-up for a period of (5) years, in accordance with the regulations governing employee savings plans, except in the case of authorized early exit events.
Indicative timetable of the transaction
Setting of the subscription price: 1 June 2021
Subscription period: from 3 June to 17 June 2021
Settlement-delivery of the offering: expected on 20 July 2021
The shares purchased within the framework of the transaction will be Ipsen ordinary shares and will be fully assimilated to existing Ipsen shares listed on Euronext Paris (ISIN code: FR0010259150).
This press release does not constitute an offer to sell or the solicitation of an offer to subscribe for Ipsen shares. The Ipsen share offering is strictly reserved for members of a Group employee savings plan and will only be implemented in countries where such an offering has been registered with or notified to the competent local authorities and/or following approval of a prospectus by the competent local authorities, or in consideration of an exemption from the obligation to prepare a prospectus or to register or notify the offering.
Ipsen is a global mid-sized biopharmaceutical company with a focus on transformative medicines in Oncology, Rare Disease and Neuroscience. Ipsen also has a well-established Consumer Healthcare business. With total sales over €2.5 billion in 2020, 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; Shanghai, China). The Group has about 5,700 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 ipsen.com
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