Issue of Equity

RNS Number : 8434F

Surgical Innovations Group PLC

03 May 2011

 

3 May 2011

Surgical Innovations Group plc

("SI" or "the Group")

Issue of Equity

Surgical Innovations Group plc (AIM:SUN), the designer and manufacturer of innovative medical devices, today announces that following the exercise of options by a Director and senior employee it has issued and allotted 1,676,000 ordinary shares of 3.5p each on 26 April 2011. Details of the Director's options exercised and resulting shareholding is as follows:-

	Number of options	Exercise price	Total shareholding following issue	Total shareholding percentage of enlarged issued share capital
Graham Bowland	176,000	3.5p	4,393,498	1.12%

Accordingly Application has been made to the London Stock Exchange for the 1,676,000 New Ordinary Shares of 3.5p each to be admitted to trading on AIM ("Admission"). It is expected that such Admission will occur on 9 May 2011. The new ordinary shares rank pari passu with the existing shares of the Company.

Following Admission the total number of ordinary shares in issue will be 393,917,902 with each share carrying the right to one vote. The above figure may be used by shareholders as the denominator for the purposes of the Disclosure and Transparency Rules.

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Enquiries:

Surgical Innovations Group plc
Doug Liversidge, Non-Executive Chairman
Graham Bowland, Chief Executive Officer	Tel: [phone]
[e-mail]	www.surginno.com

Seymour Pierce Limited
Freddy Crossley	Tel: [phone]
Sarah Jacobs
Corporate Broking
Marianne Woods
	www.seymourpierce.com

Media enquiries: The Communications Portfolio
Ariane Comstive [e-mail]	Tel: [phone] Mob: [phone]

Notes to Editors:

About Surgical Innovations Group plc

Surgical Innovations Group plc specialises in the design and manufacture of innovative devices for use in 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 100 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 45 distribution partners, Surgical Innovations branded products are sold in all major medical markets including North America, Europe, South Africa, the Middle East, South-east Asia and Australia.
OEM and IP	The Group supplies large medical device companies on an OEM basis, collecting sales fees as well as IP license and royalty fees.  Clients include Teleflex Medical, Gyrus 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, such as turbines, in situ with minimum disassembly and downtime.

For more information, see www.surginno.com

 

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