Silence Therapeutics PLC Director/PDMR Shareholding (9003U)

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RNS Number : 9003U

Silence Therapeutics PLC

17 July 2018

Grant of Restricted Stock Units

17 July 2018

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 today granted nominal cost restricted stock units ('RSUs') to David Horn Solomon, the Company's Chief Executive Officer, under the Silence Therapeutics plc 2018 Long Term Incentive Plan. Details of the grant are summarised below.

Award of Restricted Stock Units:

 
 Director              Position    RSUs Awarded   Total RSUs Held 
 David Horn Solomon    CEO         401,338        401,338 
                      ----------  -------------  ---------------- 
 

These nominal cost RSUs will vest in full on 16 July 2021. The RSUs are subject to achievement of the performance condition that the Company's share price must be maintained above 157p for a period of 30 continuous days prior to vesting. The RSUs are exercisable over the period of 7 years from the date of vesting. Claw-back and malus provisions apply. There is a one-year holding period post exercise. Each RSU entitles the holder to subscribe for an Ordinary Share at a subscription price of 5 pence per Ordinary Share equating to the nominal value.

The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.

 
1   Details of the person discharging managerial responsibilities/person 
     closely associated 
a)  Name                             David Horn Solomon 
    -------------------------------  ----------------------------------------------- 
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                                                         213800SSURRJBX85SQ91 
    -------------------------------  ----------------------------------------------- 
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 financial     Ordinary shares of 5 pence each 
     instrument, type of instrument 
                                      ISIN for Silence Therapeutics plc Ordinary 
     Identification code              Shares GB00B9GTXM62 
    -------------------------------  ----------------------------------------------- 
b)  Nature of the transaction        Grant of restricted stock units under the 
                                      Silence Therapeutics plc 2018 Long Term 
                                      Incentive Plan 
    -------------------------------  ----------------------------------------------- 
c)  Price(s) and volume(s)           Price(s) Volume(s) 
 
                                      5 pence per share (subscription price) 401,338 
    -------------------------------  ----------------------------------------------- 
d)  Aggregated information 
 
     - Aggregated volume               N/A 
 
     - Price 
    -------------------------------  ----------------------------------------------- 
e)  Date of the transaction          17 July 2018 
    -------------------------------  ----------------------------------------------- 
f)  Place of the transaction         Outside a trading venue 
    -------------------------------  ----------------------------------------------- 
 

Enquiries:

 
 Silence Therapeutics plc                       Tel: [phone] 
  Annalisa Jenkins, Executive Chair                             6900 
  David Horn Solomon, Chief Executive Officer 
  David Ellam, Chief Financial Officer 
 Peel Hunt LLP (Nominated Adviser and Broker)   Tel: [phone] 
  James Steel/ Oliver Jackson                                   8900 
 Media & IR Enquiries                           Tel: [phone] 
  Optimum Strategic Communications                              1788 
  Mary Clark/ Eva Haas/ Hollie Vile 
  [e-mail] 
 IR Enquiries - US                                 Tel: [phone] 
  Burns McClellan                                               0006 
  John Grimaldi 
  [e-mail] 
 

About Silence Therapeutics plc

Silence Therapeutics is developing a new modality of genetic medicines by harnessing the body's natural mechanism of RNA interference, or RNAi, within its cells. Its proprietary technology can selectively inhibit any gene in the genome and be engineered to specifically silence the production of disease-associated proteins. Using enabling delivery systems, Silence has achieved an additional level of specificity by delivering therapeutic RNA molecules exclusively to target cells. Silence's proprietary technology platform provides an effective, safe and highly potent modular approach well suited to tackling life-threatening diseases. Silence aims on being a clinical stage company in 2019, while progressing a pipeline of earlier stage candidates against important gene targets directed at areas of high unmet medical need. In parallel, Silence continues to evolve its patent portfolio as new discoveries emerge from its innovative efforts to develop the next generation of RNAi medicines.

Silence has out-licensed technology to Quark Pharmaceuticals for use in Delayed Graft Function and Acute Kidney Injury. Both programmes are now in phase III. For more information, please visit: http://www.silence-therapeutics.com/

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July 17, 2018 10:00 ET (14:00 GMT)