Exercise of Options

RNS Number : 2923B

Surgical Innovations Group PLC

15 February 2011

 



15 February 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 certain of the Directors and a senior employee yesterday it has issued and allotted 10,750,000 ordinary shares of 1p each. Details of the individual Directors options exercised and resulting shareholdings are as follows:-

	Number of options	Exercise price	Total shareholding following issue	Total shareholding percentage of enlarged issued share capital
Colin Glass	1,000,000	1.7p	5,881,602	1.50
Doug Liversidge	1,000,000	1.7p	6,171,821	1.57
Michael McMahon	3,500,000	2,500,000 at 1.7p 1,000,000 at 1.5p	16,688,281	4.25
Raymond Simkins	4,900,000	3,900,000 at 1.7p 1,000,000 at 1.5p	7,269,461	1.85

Accordingly Application has been made to the London Stock Exchange for the 10,750,000 New Ordinary Shares of 1p each to be admitted to trading on AIM ("Admission"). It is expected that such Admission will occur at on 21 February 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 392,241,902 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.

- Ends -

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	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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