Surgical Innovations Group PLC Result of Equity Issue (2873M)
27 July 2017 - 7:53PM
UK Regulatory
TIDMSUN
RNS Number : 2873M
Surgical Innovations Group PLC
27 July 2017
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 GBP5.5 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:
Director Number Holding of % of Enlarged
of New Ordinary Issued Share
Ordinary Shares following Capital following
Shares Admission Admission
subscribed
for
Nigel Rogers 710,385 4,403,863 0.56
Melanie Ross 333,333 1,573,710 0.20
Paul Hardy 1,538,990 5,914,464 0.76
Mike McMahon 166,666 18,504,737 2.37
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.
Contact details:
Surgical Innovations www.sigroupplc.com
Group Plc
Nigel Rogers, Executive Tel: 0113 230 7597
Chairman
Melanie Ross, COO & CFO
WH Ireland Limited (NOMAD Tel: 020 7220 1666
& Broker)
Tim Feather (Corporate
Finance)
David Kilbourn (Corporate
Broking)
Walbrook PR (Financial Tel: 020 7933 8780 or
PR & Investor Relations) si@walbrookpr.com
Paul McManus Mob: 07980 541893
Lianne Cawthorne Mob: 07584 391303
This information is provided by RNS
The company news service from the London Stock Exchange
END
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