Silence Therapeutics PLC Grant of Share Options to Directors (2721B)

TIDMSLN

RNS Number : 2721B

Silence Therapeutics PLC

03 April 2017

Grant of share options to Directors

3 April 2017

Silence Therapeutics plc, AIM:SLN ("Silence" or "the Company") a leader in the discovery, delivery and development of novel RNA therapeutics for the treatment of serious diseases with unmet medical need, announces that it has granted share options ("Options") to certain of its executive directors to acquire a total of 554,597 ordinary shares of 5.0p each in the capital of the Company ("Ordinary Shares") under the Silence Therapeutics Plc share option scheme.

.

 
   Director              Options Granted        Total Number     Total Number 
                                                  of Options       of Options 
                                              held following     held as % of 
                                                       Grant     issued share 
                                                                      capital 
   Ali Mortazavi, 
    CEO                          242,222           3,970,300             5.7% 
   David Ellam, 
    CFO                          312,375             512,375             0.7% 
 

These Options have been granted as nil cost options vesting after a period of three years from grant. The Options are subject to achievement of certain performance conditions within the three years from grant, on the basis of 33% vesting for a share price of GBP1.35, a further 33% vesting for a share price of GBP1.50, and the final 34% for a share price of GBP1.60. The share price must be maintained for a period of 30 continuous days. The Options are exercisable over the period of 10 years from the date of grant. Claw-back and malus provisions apply.

Following these grants the Company has a total of 6,047,583 share options outstanding representing 8.7% of the existing issued share capital of the Company.

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

 
 1              Details of the person discharging managerial 
                  responsibilities/person closely associated 
    -------------------------------------------------------- 
a)  Name                            Ali Mortazavi 
    ------------------------------  ------------------------ 
 2  Reason for the notification 
    -------------------------------------------------------- 
a)  Position/status                 Chief Executive Officer 
    ------------------------------  ------------------------ 
b)  Initial notification/Amendment  Initial notification 
    ------------------------------  ------------------------ 
 3  Details of the issuer, emission allowance market 
     participant, auction platform, auctioneer or 
     auction monitor 
    -------------------------------------------------------- 
a)  Name                            Silence Therapeutics Plc 
    ------------------------------  ------------------------ 
 
 
b)  LEI                                                                    N/A 
    -------------------------  ----------------------------------------------- 
 4  Details of the transaction(s): section to be 
     repeated for (i) each type of instrument; (ii) 
     each type of transaction; (iii) each date; and 
     (iv) each place where transactions have been 
     conducted 
    -------------------------------------------------------------------------- 
a)  Description of the         Options over Ordinary Shares 
     financial instrument, 
     type of instrument 
                                ISIN for Silence Therapeutics plc Ordinary 
                                Shares GB00B9GTXM62 
     Identification code 
    -------------------------  ----------------------------------------------- 
b)  Nature of the transaction  Grant of Options under the Silence Therapeutics 
                                Plc Share Option Plan 
    -------------------------  ----------------------------------------------- 
c)  Price(s) and volume(s)     Price(s) Volume(s) 
 
                                Nil 242,222 
    -------------------------  ----------------------------------------------- 
d)   Aggregated information    242,222 Options 
                                Nil cost 
       *    Aggregated volume 
 
 
 
       *    Price 
    -------------------------  ----------------------------------------------- 
e)  Date of the transaction    31 March, 2017 
    -------------------------  ----------------------------------------------- 
f)  Place of the transaction   Outside a trading venue 
    -------------------------  ----------------------------------------------- 
 
 
 1                  Details of the person discharging managerial 
                      responsibilities/person closely associated 
    ------------------------------------------------------------ 
a)  Name                            David Ellam 
    ------------------------------  ---------------------------- 
 2  Reason for the notification 
    ------------------------------------------------------------ 
a)  Position/status                 Chief Financial Officer 
    ------------------------------  ---------------------------- 
b)  Initial notification/Amendment  Initial notification 
    ------------------------------  ---------------------------- 
 3  Details of the issuer, emission allowance market 
     participant, auction platform, auctioneer or 
     auction monitor 
    ------------------------------------------------------------ 
a)  Name                            Silence Therapeutics plc 
    ------------------------------  ---------------------------- 
b)  LEI                             N/A 
    ------------------------------  ---------------------------- 
 4  Details of the transaction(s): section to be 
     repeated for (i) each type of instrument; (ii) 
     each type of transaction; (iii) each date; and 
     (iv) each place where transactions have been 
     conducted 
    ------------------------------------------------------------ 
a)  Description of the              Options over Ordinary Shares 
     financial instrument, 
     type of instrument 
    ------------------------------  ---------------------------- 
 
 
    Identification code        ISIN for Silence Therapeutics 
                                plc Ordinary Shares GB00B9GTXM62 
    -------------------------  --------------------------------- 
b)  Nature of the transaction  Grant of Options under the 
                                Silence Therapeutics Plc 
                                Share Option Plan 
    -------------------------  --------------------------------- 
c)  Price(s) and volume(s)     Price(s) Volume(s) 
 
                                Nil 312,375 
    -------------------------  --------------------------------- 
d)   Aggregated information    312,375 Options 
                                Nil cost 
       *    Aggregated volume 
 
 
 
       *    Price 
    -------------------------  --------------------------------- 
e)  Date of the transaction    31 March 2017 
    -------------------------  --------------------------------- 
f)  Place of the transaction   Outside a trading venue 
    -------------------------  --------------------------------- 
 

Enquiries:

 
 Silence Therapeutics plc                Tel: +44 (0)20 
  Ali Mortazavi, Chief Executive          3457 6900 
  Officer 
  David Ellam, Chief Financial Officer 
 Canaccord Genuity Limited (Nominated    Tel: +44 (0)20 
  Adviser and Joint Broker)               7523 8350 
  Henry Fitzgerald-O'Connor/Emma 
  Gabriel 
 Peel Hunt LLP (Joint Broker)            Tel: +44 (0)20 
  James Steel/Oliver Jackson              7418 8900 
 Media Enquiries:                        Tel: +44 (0) 
  FTI Consulting                          20 3727 1000 
  Simon Conway/Brett Pollard/Stephanie 
  Cuthbert 
 

Notes to Editors

About Silence Therapeutics plc

Silence Therapeutics develops a new generation of medicines by harnessing the body's natural mechanism of RNA interference, or RNAi, within its cells. Our proprietary technology can selectively inhibit any gene in the genome, specifically silencing the production of disease-causing proteins. Using our enabling delivery systems, we have achieved an additional level of specificity by delivering our therapeutic RNA molecules exclusively to target cells. Silence's proprietary RNA chemistries and delivery systems are designed to improve the stability of our molecules and enhance effective delivery to target cells, providing a powerful modular technology well suited to tackle life-threatening diseases.

This information is provided by RNS

The company news service from the London Stock Exchange

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April 03, 2017 02:01 ET (06:01 GMT)