logo-loader
viewSilence Therapeutics PLC

Silence Therapeutics sells another slug of its holding in Arrowhead

In total, Silence Therapeutics has now sold 6,358,850 Arrowhead shares on the open market, realising proceeds of US$23.0mln (£17.2mln)

1514453827_biotechLatest.jpg
The company will use the proceeds from the sale to fund working capital requirements

Silence Therapeutics plc (LON:SLN) said it has sold 2,317,693 shares in Arrowhead Pharmaceuticals Inc.(NASDAQ:ARWR) for an average price of US$3.60, reducing its holding in Arrowhead to 0.63%.

In total, Silence Therapeutics has now sold 6,358,850 Arrowhead shares on the open market, realising proceeds of US$23.0mln (£17.2mln). The average purchase price per share was US$1.65 and the average selling price of the 6,358,850 shares sold was US$3.62. The total profit recorded is therefore US$12.5mln, or £8.7mln.

READ: Silence Therapeutics offloads a slug of its Arrowhead holding at significant profit

The company will use the proceeds from the sale to fund working capital requirements.

Silence said it has determined that it may be advantageous to liquidate portions or all of its remaining holding of Arrowhead shares from time to time in an orderly manner consistent with prudent management of its investment.

READ: Silence Therapeutics' value climbs as it looks for IP redress

The Company still holds 472,509 common shares which represents 0.63% of Arrowhead.

 

Quick facts: Silence Therapeutics PLC

Price: 451 GBX

AIM:SLN
Market: AIM
Market Cap: £373.55 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Silence Therapeutics PLC named herein, including the promotion by the Company of Silence Therapeutics PLC in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Market Report: FTSE 100 retreats as UK employment tumbles

Headlines from the Proactive UK newsroom. The FTSE100 was on the back foot as the new job numbers highlighted how business is suffering due to the pandemic. The blue chip-index shed 60 to 6,232. People on UK payrolls fell by 649,000 between March and June, according to the government....

3 weeks, 3 days ago

2 min read