Directorate Change

RNS Number : 1317E

Surgical Innovations Group PLC

25 May 2012

 



Surgical Innovations Group plc

("SI" or the "Company")

Directorate Change

Surgical Innovations Group plc (AIM: SUN), the designer and manufacturer of creative solutions for minimally invasive surgery ('MIS'), announces the appointment of Mike Thornton as Chief Financial Officer, with immediate effect.

Mike, aged 36, is a Fellow of the Institute of Chartered Accountants. He joined the Group in December 2011 as Finance Director of the main trading subsidiary, but he also acts as Company Secretary for the Group. Mike joined SI from professional services firm PwC. Mike trained as a graduate with PwC and qualified as an ACA in 2001 and as an FCA in 2012. He progressed through to Director over a 14-year period, working in offices in Hull, Leeds and London. Whilst at PwC he primarily provided audit, due diligence and stock exchange accountancy services to a wide range of clients across the Yorkshire region.

Graham Bowland, Chief Executive Officer, commented: "We are very pleased to welcome Mike to the Board as Finance Director and his appointment strengthens the Board at a crucial stage of growth in our core Minimally Invasive Surgery business. Since joining us Mike has already had a positive impact and we look forward to his ongoing contribution."

Additional Information

Michael Robert Thornton, aged 36, holds no shares in the Company and other than as set out below there is no further information to be disclosed under schedule 2(g) and Rule 17 of the AIM Rules in respect of Mr Thornton's appointment today as a Director of the Company.

Mike Thornton is a director / partner or has been a director / partner of the following companies / partnerships during the previous five years:

Current directorships/partnerships	Director/Partner in the last 5 years
Surgical Innovations Limited

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Enquiries:

Surgical Innovations Group plc	www.surginno.com
Doug Liversidge, Non-Executive Chairman
Graham Bowland, Chief Executive Officer	Tel: [phone] [e-mail]
Seymour Pierce Limited	www.seymourpierce.com
Freddy Crossley / Sarah Jacobs (Corporate Finance)	Tel: [phone]
David Banks / Jacqui Briscoe (Corporate Broking)
Walbrook PR Ltd	Tel: [phone]
Paul McManus	Mob: [phone] or [e-mail]
Fiona Henson	Mob: [phone] or [e-mail]

Notes to Editors:

About Surgical Innovations Group plc

Surgical Innovations Group plc specialises in the design and manufacture of creative solutions for minimally invasive surgery (MIS) and industrial markets. 

As well as manufacturing single-use and reusable instruments for the laparoscopic market, the Group has pioneered its flagship Resposable® instrumentation combining both single use and reusable components, ensuring ongoing revenue streams and delivering the optimum procedure performance to cost ratio.

Over 120 people are employed at the Group's 32,000 square feet facility in Leeds, with in-house design, plastic injection moulding and manufacturing equipment, producing products to the highest quality standards.

The Group's patented products are sold through three main channels:

SI brand	Through an established network of distribution partners, Surgical Innovations branded products are sold in major medical markets including North America, Britain, South East Asia, Australasia and the Indian subcontinent.
OEM and IP	The Group supplies large medical device companies on an OEM basis, generating both sales and IP royalty fees.  Clients include Teleflex Medical, Olympus and CareFusion.
Industrial	SI's patented segment technology has been applied to the industrial market enabling customers to undertake inspection and maintenance of large-scale equipment, in situ with minimum disassembly and downtime.

For more information, see www.sigrouplplc.com

 

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