Silence Therapeutics PLC Grant of Share Options (6713N)

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RNS Number : 6713N

Silence Therapeutics PLC

21 May 2020

Grant of Share Options

21 May 2020

LONDON, Silence Therapeutics, PLC (LON: SLN) ("Silence" or "the Company"), a leader in the discovery, development and delivery of novel RNA therapeutics for the treatment of serious diseases, advises that on 20 May 2020 new options have been issued to Iain Ross, Executive Chairman, to acquire a total of 500,000 new ordinary shares in the capital of the Company ("Ordinary Shares"), under the Silence Therapeutics plc 2018 Long Term Incentive Plan. Following this award Iain now has 1,000,000 options in the Company.

350,000 options will be granted with a strike price of GBP4.40 and will vest quarterly over three years. 150,000 options will be granted with a strike price of 5p, of which 100,000 will vest on the third anniversary of Iain's appointment to the board in April 2019, subject to Silence achieving a listing on a US stock exchange. The remaining 50,000 options at 5p will vest upon achievement of a listing on a US stock exchange and subsequent achievement of a share price of GBP4.40 over 30-days.

 
 1.   Details of the person discharging managerial responsibilities 
       (PDMR) / person closely associated 
 a)   Name                         Iain Ross 
     ---------------------------  ------------------------------------------------- 
 2.   Reason for the notification 
     ------------------------------------------------------------------------------ 
 a)   Position / status            Executive Chairman 
     ---------------------------  ------------------------------------------------- 
 b)   Initial notification         Initial notification 
       / Amendment 
     ---------------------------  ------------------------------------------------- 
 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               Options over Ordinary Shares in Silence 
       the financial instrument,    Therapeutics Plc under the Silence Therapeutics 
       type of instrument           plc 2018 Long Term Incentive Plan. 
 
       Identification 
       code                         ISIN for Silence Therapeutics plc Ordinary 
                                    Shares: 
                                    GB00B9GTXM62 
     ---------------------------  ------------------------------------------------- 
 b)   Nature of the transaction    Issue of options over Ordinary Shares 
                                    in Silence Therapeutics Plc 
     ---------------------------  ------------------------------------------------- 
 c)   Prices(a) and volume(s)        Options Awarded at   Options Awarded at 
                                            GBP4.40                5p 
                                           350,000              150,000 
                                                          ------------------- 
     ---------------------------  ------------------------------------------------- 
 d)   Aggregated information 
       - Aggregated volume           See above 
       - Price 
     ---------------------------  ------------------------------------------------- 
 e)   Date of the transaction      20 May 2020 
     ---------------------------  ------------------------------------------------- 
 f)   Place of the transaction     Off exchange 
     ---------------------------  ------------------------------------------------- 
 

Enquiries:

 
 Silence Therapeutics plc                     Tel: [phone] 
  Iain Ross, Executive Chairman                6900 
  Dr Rob Quinn, Chief Financial Officer 
  Investec Bank plc (Nominated Adviser and     Tel: +44 (0) 20 
   Broker)                                      7597 5970 
   Daniel Adams/Gary Clarence 
 European IR                                  Tel: +44 (0) 20 
  Consilium Strategic Communications           3709 5700 
  Mary-Jane Elliott/Chris Welsh/Angela Gray 
  [e-mail] 
 US IR                                         Tel: [phone] 
  Westwicke Partners 
  Peter Vozzo 
  [e-mail] 
 

About Silence Therapeutics plc

Silence Therapeutics is developing a new generation of 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, specifically silencing the production of disease-associated proteins. Silence's proprietary RNA chemistries and delivery systems are designed to improve the stability of molecules and enhance effective delivery to target cells, providing a powerful modular technology well suited to tackle life-threatening diseases. The Company has secured high value research and collaboration agreements with AstraZeneca, Mallinckrodt Pharmaceuticals and Takeda. For more information, please visit: https://www.silence-therapeutics.com/

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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May 21, 2020 11:28 ET (15:28 GMT)