REG - Surgical Innovations - Board Changes

Surgical InnovationsAnnouncement

Yesterday 07:05

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RNS Number : 1050B  Surgical Innovations Group PLC  29 September 2025

Surgical Innovations Group plc

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

 
Board Changes

 

Surgical Innovations Group plc (AIM: SUN), the designer, manufacturer and
distributor of innovative medical technology for minimally invasive surgery
("MIS"), announces an evolution to the Board of Directors of the Company as
detailed below.

 

The Company announces the appointments of Roy Davis, Andrew Boteler and Duncan
Soukup as Non-Executive Chair, Independent Non-Executive Director and
Non-Executive Director respectively, with immediate effect.

 

Simultaneously, Jonathan Glenn and Keyvan Djamarani will step down from the
Board as Non-Executive Chair and Non-Executive Director respectively with
immediate effect. Jonathan and Keyvan joined the Board in 2023 and during this
time have been instrumental in the driving the operational review of the
business.

 

Roy joins the Board with a mandate to work alongside the current Executive
Directors, David Marsh and Brent Greetham to drive value creation for
shareholders over the medium term.

 

Roy Davis

 

Roy is an experienced executive with over 35 years of global experience in a
variety of industries including medtech, diagnostics and technology sectors.
He is currently Chairman of Inspiration Healthcare Group plc, a leading
neonatal respiratory company, and Foster & Freeman Ltd (the trading name
of the Galton group of companies), a leading forensic imaging manufacturer. He
is also a Non-Executive Director of Futura Medical plc, a UK pharmaceutical
company focussed on the sexual health market and a Senior Advisor to Moore
Walker Partners, a Healthcare & Technology Advisory Services company. Roy
was previously Chairman of LunglifeAI plc, Medica Group plc until its sale to
IK Partners in 2023 and Chairman of Edinburgh Molecular Imaging Ltd and RAIR
Health Ltd.

 

Before these Non-Executive roles Roy served as the Chief Executive Officer of
Optos plc, a leading ophthalmology medical device business, from 2008 until
June 2016 when he stepped down following the company's acquisition by Nikon
Corporation. Before joining Optos, he served from 2007 as Chief Executive
Officer of Gyrus Group plc, a leading medical device company, prior to its
acquisition by the Olympus Corporation of Japan in 2008, having previously
served as Chief Operating Officer of Gyrus from 2003 and a Non-Executive
Director since the company's flotation in 1997.

 

Prior to this, Roy spent almost ten years with Arthur D Little, the global
management consulting company, where he was vice president and global head of
its operations management business. His early career included experience in
the electronics, oil, and automotive sectors. Roy holds a mechanical
engineering degree from the University of Southampton and an MBA from the
London Business School.

 

Roy will become Chair of the Nomination Committee and be a member of the
Renumeration and Audit Committees, effective immediately.

 

Andrew Boteler

 

Andrew brings more than 30 years' experience in both Executive and
Non-Executive roles in the financial sector. Andrew is currently Non-Executive
Director and Audit Committee Chair at Octopus AIM VCT plc and Non-Executive
Director and Audit Committee Chair at Cake Box Holdings plc. Andrew was
previously Non-Executive Director and chair of Remuneration and Audit at
LungLifeAI plc.  He has been on CEN Group Holdings' Advisory Panel since
2021. Previously, he was CFO at Gooch & Housego PLC (2009-2019) and
Finance Director at Riverford Organic Farmers (2019-2023).

 

Andrew will become Chair of the Audit and Remuneration Committees and a member
of the Nominations Committee, effective immediately.

 

Duncan Soukup

 

Duncan has over 35 years of investment experience. Having worked in investment
banking for 10 years (1984-1994), latterly with Bear Stearns as managing
director in charge of the company's non-US equity business, Mr Soukup set up
his own investment management business in 1994. Acquisitor plc, a company of
which Mr Soukup was a director, was admitted to trading on AIM in January
2000. In 2002, 90 per cent. of the assets of Acquisitor Plc were moved to
Acquisitor Holdings Ltd (Bermuda) and Acquisitor Plc was left as an investing
company which then acquired Tinopolis Plc, a leading UK independent TV
production company. In 2006, Acquisitor Holdings Limited (Bermuda) merged with
New York Holdings Ltd. and Baltimore Plc. Shortly thereafter, the combined
group was acquired by Oryx International Limited, a Guernsey incorporated
investment company. Mr Soukup is currently a Director of a number of UK listed
companies including Thalassa Holdings Ltd., Alina Holdings Plc.,
and Anemoi International Ltd.

Duncan will be a member of the Nominations and Audit Committees, with
immediate effect.

 

Roy Davis, Non-Executive Director, said the following:

"I am delighted to join the Board of Surgical Innovations, a company I have
known since my time at Gyrus Group plc. I believe that Surgical Innovation's
range of innovative Reposable(TM) products provide an exciting platform for
improving minimally invasive surgery and I am excited to be able to work with
David, Brent and the new Board in looking at how we can maximize shareholder
value."

 

David Marsh, Chief Executive Officer, said the following:

"I am delighted to welcome Roy, Andrew and Duncan to the Board and look
forward to working closely with them as the Company takes its next steps. I
would also like to take this opportunity to thank Jon and Keyvan for their
support and guidance over the past two years, which I have greatly valued and
appreciated during our time working together."

 

For further information please contact:

 

 Surgical Innovations Group plc                                                www sigroupplc com (http://www.sigroupplc.com/)
 David Marsh, CEO                                                              Tel: 0113 230 7597
 Brent Greetham, CFO

 Singer Capital Markets (Nominated Adviser & Broker)                                                     Tel: 020 7496 3000
 Alex Bond / Oliver Platts

 Walbrook PR (Financial PR & Investor Relations)      Tel: 020 7933 8780 or si@walbrookpr.com (mailto:si@walbrookpr.com)
 Paul McManus / Lianne Applegarth                                              Mob: 07980 541 893 / 07584 391 303

 

 

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 reusable, 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, the Company's
Reposable portfolio enables healthcare providers to reduce both plastic waste
and their CO2 footprint as they strive for net zero.

 

 

Further information

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

 

www.sigroupplc.com (http://www.sigroupplc.com)

www.surginno.com (http://www.surginno.com/)

www.elementalhealthcare.co.uk (http://www.elementalhealthcare.co.uk)

 

To receive regular updates by email, please contact si@walbrookpr.com
(mailto:si@walbrookpr.com)

 

The following information is disclosed pursuant to Rule 17 and Schedule Two
Paragraph (g) of the AIM Rules for Companies in relation to Gordon Roy Davis,
aged 69.

 

 Current Directorships/Partnerships             Past Directorships/Partnership (within 5 years)
 ·    Anaesthetic Services Systems Limited      ·    Edinburgh Molecular Imaging Limited

 ·    Futura Medical plc                        ·    LungLife AI, Inc.

 ·    Galton Bidco Limited                      ·    Medica Group Limited

 ·    Galton Midco Limited                      ·    Rair Health Limited

 ·    Galton Topco Limited

 ·    Galton Tradeco Limited

 ·    Inditherm Construction Limited

 ·    Inditherm Limited

 ·    Inditherm (Medical) Limited

 ·    Inditherm (UK) Limited

 ·    Inspiration Healthcare Group plc

 ·    Inspiration Healthcare Limited

 ·    Inspiration Homecare Limited

 ·    S.L.E. Limited

 ·    Vio Holdings Limited

 ·    Viomedex Limited

 

In addition to the above, Roy Davis was a director of C-Quential Limited until
his resignation on 28 February 2001. The company entered into a creditors
voluntary liquidation on 11 February 2002 and was subsequently dissolved on 18
August 2007.

 

The following information is disclosed pursuant to Rule 17 and Schedule Two
Paragraph (g) of the AIM Rules for Companies in relation to Andrew Norman
Boteler, aged 59.

 

 Current Directorships/Partnerships                       Past Directorships/Partnership (within 5 years)
 ·    Cake Box Holdings plc                               ·    Lunglife AI, Inc.

 ·    Compass Point (Carbis Bay) Management Limited       ·    Riverford Organic Farmers Limited

 ·    Octopus AIM VCT plc

 

The following information is disclosed pursuant to Rule 17 and Schedule Two
Paragraph (g) of the AIM Rules for Companies in relation to Charles Duncan
Soukup, aged 71.

 

 Current Directorships/Partnerships            Past Directorships/Partnership (within 5 years)
 ·    Acquisitor Ltd                           ·    Anemoi S.A.

 ·    Alfalfa Holdings AG                      ·    Autonomous Robotics Limited

 ·    Alina (BVI) Ltd                          ·    DOA Beta Ltd

 ·    Alina Holdings plc                       ·    DOA Gamma Ltd

 ·    Anemoi International Ltd                 ·    Eastleigh Court Limited

 ·    Apeiron Holdings (BVI) Ltd               ·    Eastleigh Stables Limited

 ·    Auld Mug Inns limited                    ·    LML Acquisition Co plc

 ·    Citypoint Holdings Ltd                   ·    LML Acquisitions plc

 ·    DOA Alpha Ltd                            ·    Northward Holdings Ltd

 ·    DOA Delta Ltd                            ·    NOS 7 Limited

 ·    DOA Exploration Limited                  ·    Renewable Power & Light Ltd

 ·    Fleur-d-lys Management Ltd               ·    Salattha Limited

 ·    ID4 AG                                   ·    Tappit Technologies (UK) Ltd.

 ·    NOS Holdings Limited                     ·    WGP Group AT GmbH

 ·    NOS 4 Limited

 ·    NOS 5 Limited

 ·    NOS 6 Limited

 ·    Peregrine Property Company Limited

 ·    Target Games Ltd

 ·    Thalassa Holdings (II) Ltd

 ·    Thalassa Holdings Ltd

 ·    WGP GEO Solutions Ltd

 

Duncan Soukup was appointed as director to Renewable Power & Light Ltd
("RPL") on 18 May 2010 and was a director at the time that RPL was placed into
administration on 11 December 2014. Preferential creditors repaid in full and
non-preferential creditors distributed a dividend of 0.31 pence in the pound.
RPL was dissolved following liquidation on 20 March 2018.

 

Roy and Andrew do not have an interest in the Company's ordinary shares.
Duncan does not hold a direct interest in the Company, but Thalasaa Holdings
Ltd is the Company's largest shareholder with an interest of 214,480,101
ordinary shares, representing 22.99% of the total voting rights (as at 12
September 2025).

 

There are no further disclosures to be made under Schedule Two Paragraph (g)
of the AIM Rules for Companies.

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