# Silence Therapeutics Further Partial Disposal of Arrowhead common shares

- Link: https://www.directorstalkinterviews.com/silence-therapeutics-partial-disposal-arrowhead-common-shares/412742749
- Published: 2017-12-28T07:13:41+00:00
- Author: Giles Arbor

**Silence Therapeutics plc**, (LON:SLN) a leader in the discovery, delivery, and
development of novel RNA therapeutics for the treatment of serious diseases with
unmet medical need, announced today that it has sold a further part of its holding
of common shares in **Arrowhead Pharmaceuticals Inc.** (NASDAQ:ARWR).

As per an RNS dated 13 January 2017, Silence had purchased 6,831,359 common shares
of Arrowhead for a total consideration of $11.3 million (£9.2 million at an exchange
rate of £1=$1.234), then representing 9.21% of Arrowhead. At the Company’s last 
balance sheet date (30 June 2017) this shareholding was marked-to-market and valued
at £8.55 million as an available-for-sale financial asset.

Since the RNS dated 11 December 2017, Silence has sold a further 2,317,693 common
shares for an average selling price of $3.60. The Company still holds 472,509 common
shares which represents 0.63% of Arrowhead.

In total, the Company has now sold 6,358,850 common shares on the open market realising
proceeds of $23.0 million (£17.2 million). The average purchase price per common
share was $1.65 and the average selling price of the 6,358,850 common shares sold
was $3.62. The total profit recorded is therefore $12.5 million, or £8.7 million.
The Company will use the proceeds from the sale of the common shares to fund the
Company’s working capital requirements.

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

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