Grant of options

RNS Number : 1159G
Surgical Innovations Group PLC
26 June 2012


Surgical Innovations Group plc

("SI" or the "Company")


Grant of options


Surgical Innovations Group plc ("the Company") announces that on 26 June 2012 the Company granted options to subscribe for 9,264,000 ordinary shares of 1p each to executive directors and employees of the Company. All of the options are exercisable between 26 June 2015 and 26 June 2022.


Options granted to the executive directors of the Company are as follows:



Number of options granted

Exercise Price

Graham Bowland



Michael Thornton




The award to Graham Bowland will only vest in full subject to the satisfaction of performance targets. The award to Michael Thornton, at a discounted exercise price of 1p, was agreed at the time of his recruitment and as part of his overall remuneration package.


The company has granted options to management and key employees over 1,990,000 ordinary shares at an exercise price of 9p and to staff over 2,274,000 ordinary shares at an exercise price of 7.2p.


Following the grant of options, there are 16,864,000 options in issue over ordinary shares in the Company, representing 4.2 per cent. of the current issued share capital. The options are exercisable at prices between 1p and 9p per share.


- ENDS -



Surgical Innovations Group plc

Doug Liversidge, Non-Executive Chairman


Graham Bowland, Chief Executive Officer

Tel: +44 (0) 113 230 7597



Seymour Pierce Limited

Freddy Crossley / Sarah Jacobs (Corporate Finance)

Tel: +44 (0) 20 7107 8000

David Banks / Jacqui Briscoe (Corporate Broking)




Walbrook PR Ltd

Tel: +44 (0) 20 7933 8780

Paul McManus

Mob: 07980 541 893 or



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. 




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




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