Withdrawal of AGM Resolution

Surgical Innovations Group plc

("the Company" or "the Group")

Withdrawal of AGM Resolution

Surgical Innovations Group plc (AIM: SUN) advises that it has withdrawn Resolution 7 from the agenda of the Annual General Meeting ("AGM") of the Company's shareholders scheduled to be held at 12:00 noon tomorrow (22 June 2021). 

Resolution 7 was a special resolution enabling, inter alia, the prospective allotment of new shares as if section 561(1) of the Companies Act did not apply to any such allotment, i.e. as if pre-emption rights did not apply. This resolution has been withdrawn following indications from a small number of significant shareholders in the Company that they do not support this resolution.

The withdrawal of this item of business does not affect the validity of the remainder of the resolutions to be proposed at the AGM, or that of proxy votes already submitted in respect of the remaining resolutions to be put to shareholders for approval at the meeting. The numbering of all other proposed resolutions at the AGM remains unchanged.

The withdrawal of Resolution 7 does not affect the strategy or the day-to-day running of the business and the Directors do not currently envisage that the business would need to raise new funds through the issue of new shares before the 2022 AGM. Should such need arise, a separate general meeting would be convened to seek shareholder approval at the relevant time.

Arrangements for the AGM are unchanged from those previously notified.

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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.

The Group currently employs approximately 100 people across two sites in the UK. Product design, engineering and manufacturing are carried out at the SI site in Yorkshire. Commercial activities including marketing, UK distribution and international sales and marketing are based at Elemental Healthcare in Berkshire.

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].