Exercise of Options (2923B)

TIDMSUN

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:-

 
                                                                     Total 
                                                                 shareholding 
                                                     Total       percentage of 
                                                 shareholding      enlarged 
                     Number of       Exercise      following     issued share 
                      options          price         issue          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 
----------------  ---------------  -----------  --------------  -------------- 
                                     2,500,000 
                                       at 1.7p 
                                     1,000,000 
 Michael McMahon        3,500,000      at 1.5p      16,688,281            4.25 
----------------  ---------------  -----------  --------------  -------------- 
                                     3,900,000 
                                       at 1.7p 
                                     1,000,000 
 Raymond Simkins        4,900,000      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: +44 (0) 113 230 7597 
graham.bowland@surginno.co.uk                     www.surginno.com 
 
 
Seymour Pierce Limited 
Freddy Crossley         Tel: +44 (0) 20 7107 8000 
Sarah Jacobs 
 
Corporate Broking 
Marianne Woods 
                            www.seymourpierce.com 
 
 
Media enquiries: 
 The Communications Portfolio 
Ariane Comstive                                   Tel: +44 (0) 20 7536 2028 
 ariane.comstive@communications-portfolio.co.uk   Mob: +44 (0) 7785 922 354

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(R) 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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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