Surgical Innovations Group plc

("Surgical Innovations", or the "Group")

Planned changes to board structure and composition and appointment of Charmaine Day FCCA as Chief Financial Officer

Surgical Innovations Group plc (AIM: SUN), the designer, manufacturer and distributor of innovative technology for minimally invasive surgery, provides details of planned changes to board structure and composition, and the appointment of Charmaine Day as Chief Financial Officer (CFO).

Charmaine is a Chartered Certified Accountant and has had responsibility for all financial aspects of the Group since July 2019, whilst also serving as Company Secretary since 2017. We are pleased to announce that she will join the board with immediate effect as CFO. Charmaine joined Surgical Innovations in 2012 as Financial Controller, beginning her career in finance for Eville & Jones Ltd and later as Management Accountant at Ellis Fairbank PLC.

Additional regulatory disclosures relating to Charmaine's appointment to the Board are included below.

The current directors have given careful consideration to the appropriate board structure to fulfill the future strategic and governance needs of the business.  The outcome of this review concludes that the optimal structure is a board of five directors comprising three non-executive directors (including an independent chair and a senior independent director), and two executive directors, being the Chief Executive Officer (CEO) and the CFO.

As part of a planned process to transition to this agreed structure, two of the current directors, Alistair Taylor and Adam Power, have indicated their intention to step down from the board with effect from 31 December 2021.  Alistair joined the board in January 2016 as an Independent Non-executive Director, and Adam Power has been Business Development Director since the acquisition of Elemental Healthcare in August 2017.  On 7 January 2021, it was announced that Adam would retire from his executive responsibilities at the end of the year, and he has now decided to also step down from the board.  At that stage, the board will come into line with the intended structure, the three remaining Non-executive Directors being Nigel Rogers, Professor Mike McMahon and Paul Hardy.  Further evolution of the non-executive complement of the board is anticipated by the end of 2022.

Chairman Nigel Rogers commented,

"The current board composition has been unchanged since the acquisition of Elemental Healthcare in 2017, and the Group has benefited both from stability and consistency in the development and implementation of our strategic goals.

We are now looking to the future, and setting out a flexible and effective structure that meets the anticipated needs of the business and facilitates further succession planning in years to come.

I would like to place on record my congratulations to Charmaine on joining the Board, and my warm appreciation and best wishes to both Adam and Alistair as they leave the Board and focus on other projects."

For further information please contact:

Regulatory Disclosures

Charmaine Roxane Day (aged 39) is currently, or has during the past five years been, a director of the following companies:

Save as set out in this announcement there are no further details to be disclosed in accordance with paragraph (g) of Schedule Two of the AIM Rules for Companies.

In relation to AIM Rule 17, the information included in the announcement released on 11 November 2021 relating to the grant of options remains unchanged.

About Surgical Innovations Group plc

The Group specialises in the design, manufacture, sale and distribution of innovative, high quality medical products, primarily for use in minimally invasive surgery. Our product and business development is guided and supported by a key group of nationally and internationally renowned surgeons across the spectrum of minimally invasive surgical activity.

We design and manufacture and source our branded port access systems, surgical instruments and retraction devices which are sold directly in the UK home market through our subsidiary, Elemental Healthcare, and exported widely through a global network of trusted distribution partners. Many of our products in this field are based on a "resposable" concept, in which the products are part re-usable, part disposable, offering a high quality and environmentally responsible solution at a cost that is competitive against fully disposable alternatives.

Elemental also has exclusive UK distribution for a select group of specialist products employed in laparoscopy, bariatric and metabolic surgery, hernia repair and breast reconstruction.

In addition, we design and develop medical devices for carefully selected OEM partners and have also collaborated with a major UK industrial partner to provide precision engineering solutions to complex problems outside the medical arena.

We aim for our brands to be recognised and respected by healthcare professionals in all major geographical markets in which we operate and provide by development, partnership or acquisition a broad portfolio of cost effective, procedure specific surgical instruments and implantable devices that offer reliable solutions to genuine clinical needs in the operating theatre environment.

Further information

Further details of the Group's businesses and products are available on the following websites:

www sigroupplc com

www surginno com

www elementalhealthcare co.uk

To receive regular updates by email, please contact [email protected].