Surgical Innovations Group PLC Conversion of Loan Notes & Issue of Shares (4163S)
21 December 2016 - 6:00PM
UK Regulatory
TIDMSUN
RNS Number : 4163S
Surgical Innovations Group PLC
21 December 2016
Surgical Innovations Group plc
("SI Group" or the "Company")
Conversion of Loan Notes
& Issue of Shares
Surgical Innovations Group plc (AIM: SUN), the designer and
manufacturer of innovative technology for minimally invasive
surgery, announces the conversion of all of the outstanding
unsecured fixed rate convertible loan notes ("Loan Notes")
amounting to GBP1.00m, together with accrued interest of GBP0.11m
into 44,259,178 ordinary shares of 1p each at a conversion price of
2.5p per share. The Loan Notes were originally created on 17
November 2014 and were repayable on 17 November 2017 unless
converted into equity at an earlier date.
In addition, the Company has issued and allotted a total of
467,143 ordinary shares of 1p each ("Shares") at a price of 3.5p
per share to Nigel Rogers, Executive Chairman, and Michael McMahon,
Paul Hardy and Alistair Taylor, Non-Executive Directors.
Details of the Shares issued and the resulting holdings of each
of the directors are as follows:
Director Shares Resulting Percentage
issued holding of enlarged
share capital
Nigel Rogers 124,286 3,471,317 0.65%
Michael McMahon 85,714 18,171,396 3.41%
Paul Hardy
* 142,857 3,561,474 0.67%
Alistair Taylor 114,286 672,906 0.13%
* Paul Hardy's beneficial holding comprises the holdings of
Hardy Transaction Management Limited, a company in which he has a
controlling interest, and his SIPP
As the Shares have been issued in lieu of remuneration for the
fourth quarter of 2016, the issue price was set at the closing
price on the date of the Company's payroll in December.
Application will be made for 44,726,321 Shares to be admitted to
trading on AIM ("Admission") which is expected to take place on 28
December 2016.
Following Admission, the total number of ordinary shares in
issue will be 533,407,756 with each share carrying the right to one
vote. The above figure may be used by shareholders as the
denominator for the purposes of calculating their holding in the
Company under the Disclosure Guidance and Transparency Rules.
For further information please contact:
Surgical Innovations Group www.sigroupplc.com
plc
Nigel Rogers, Executive Tel: 0113 230 7597
Chairman
Melanie Ross, COO & Finance
Director
WH Ireland Limited (NOMAD Tel: 0113 394 6600
& Broker)
Tim Feather/Ed Kennedy
Walbrook PR (Financial PR Tel: 020 7933 8780 or
& Investor Relations) si@walbrookpr.com
Paul McManus Mob: 07980 541 893
This information is provided by RNS
The company news service from the London Stock Exchange
END
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