17 Jul 2018 15:00
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 instrument, type of instrument
Identification code | Ordinary shares of 5 pence each
ISIN for Silence Therapeutics plc Ordinary 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
- Price |
N/A
|
e) | Date of the transaction | 17 July 2018 |
f) | Place of the transaction | Outside a trading venue |
Enquiries:
Silence Therapeutics plc Annalisa Jenkins, Executive Chair David Horn Solomon, Chief Executive Officer David Ellam, Chief Financial Officer
| Tel: +44 (0) 20 3457 6900 |
Peel Hunt LLP (Nominated Adviser and Broker) James Steel/ Oliver Jackson
| Tel: +44 (0) 20 7418 8900 |
Media & IR Enquiries Optimum Strategic Communications Mary Clark/ Eva Haas/ Hollie Vile silence@optimumcomms.com
| Tel: +44 (0) 20 3714 1788 |
IR Enquiries - US Burns McClellan John Grimaldi Silence.Therapeutics@burnsmc.com | Tel: +1 (212) 213 0006 |
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/