Surgical Innovations Regulatory News (SUN)

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Surgical Innovations Group plc

Result of the Placing, Directors' Participation and Related Party Transaction

Further to the accelerated bookbuilding process and proposed Acquisition of Elemental Healthcare Limited announced earlier today, the Company is pleased to announce that the Vendor Placing and the Subscriptions have, in aggregate, conditionally raised gross proceeds of approximately £5.5 million through the issue of 183,333,333 New Ordinary Shares at a price of 3p per share.

Directors' Participation

Certain of the Directors have conditionally subscribed for New Ordinary Shares as follows:

Related Party Transaction

Getz Bros. & Co. (BVI) Limited, which is a substantial shareholder in the Company as defined in the AIM Rules, has conditionally agreed to subscribe for 20,296,706 New Ordinary Shares (the "Getz Subscription"). The Getz Subscription constitutes a related party transaction for the purposes of the AIM Rules. Alistair Taylor, the Director who has not conditionally subscribed for New Ordinary Shares, having consulted with WH Ireland, the Company's nominated adviser, considers that the terms of the Getz Subscription are fair and reasonable insofar as Shareholders are concerned.

Application has been made to the London Stock Exchange for admission to trading of the New Ordinary Shares on AIM. It is expected that Admission will take place and dealings in the New Ordinary Shares will commence at 8.00 a.m. on 1 August 2017 at which time the Vendor Placing, the Subscriptions and the Acquisition will become unconditional.

The New Ordinary Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the Existing Ordinary Shares, including the right to receive all dividends or other distributions made, paid or declared in respect of such shares after Admission.

Following Admission and the issue of the New Ordinary Shares, there will be 780,264,588 Ordinary Shares in issue.

Capitalised terms used but not defined in this announcement shall have the meanings defined in the announcement issued earlier today.

This Announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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