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Pin to quick picksSurgical Innovations Regulatory News (SUN)

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Issue of Equity

11 May 2011 17:12

RNS Number : 4299G
Surgical Innovations Group PLC
11 May 2011
 



11 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 senior employee yesterday it has issued and allotted 820,000 ordinary shares of 1.0p each.

Accordingly Application has been made to the London Stock Exchange for the 820,000 New Ordinary Shares of 1.0p each to be admitted to trading on AIM ("Admission"). It is expected that such Admission will occur on 20 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 394,737,902 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 Comstiveariane.comstive@communications-portfolio.co.uk

Tel: +44 (0) 20 7536 2028

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® 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

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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