Director/PDMR Shareholding

RNS Number : 7032B

Midwich Group PLC

05 April 2017

 

05 April 2017

Midwich Group Plc

("Midwich" or the "Group")

DIRECTOR / PDMR SHAREHOLDING

Midwich, the leading specialist audio visual and document solutions distributor to the trade market, announces that certain persons discharging managerial responsibilities (the "Selling Shareholders") have today sold an aggregate of 2,526,940 ordinary shares in the Company ("Ordinary Shares"), representing approximately 3.2 per cent of the issued share capital of Midwich at a price of 295 pence per share. Board members of Midwich Group have not sold any Ordinary Shares.

1.	Details of the person discharging managerial responsibilities/person closely associated
(a)	Name	Lee Baker
2.	Reason for the notification
(a)	Position/status	Divisional Director
(b)	Initial notification/ Amendment	Initial notification
3.	Details of the issuer
(a)	Name	Midwich Group Plc
(b)	LEI	N/A
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
(a)	Description of the Financial Instrument	Ordinary shares of £0.01 each
(b)	Identification code of the Financial Instrument	GB00BYSXWW41
(c)	Nature of the transaction	Sale of shares
(d)	Price(s) and volume(s)	Price(s)	Volume(s)
		295p	816,420
(e)	Aggregated information -               Aggregated volume -               Price	N/A
(f)	Date of the transaction	05 April 2017
(g)	Place of the transaction	London Stock Exchange

1.	Details of the person discharging managerial responsibilities/person closely associated
(a)	Name	Stuart Mizon
2.	Reason for the notification
(a)	Position/status	Divisional Director
(b)	Initial notification/ Amendment	Initial notification
3.	Details of the issuer
(a)	Name	Midwich Group Plc
(b)	LEI	N/A
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
(a)	Description of the Financial Instrument	Ordinary shares of £0.01 each
(b)	Identification code of the Financial Instrument	GB00BYSXWW41
(c)	Nature of the transaction	Sale of shares
(d)	Price(s) and volume(s)	Price(s)	Volume(s)
		295p	614,280
(e)	Aggregated information -               Aggregated volume -               Price	N/A
(f)	Date of the transaction	05 April 2017
(g)	Place of the transaction	London Stock Exchange

1.	Details of the person discharging managerial responsibilities/person closely associated
(a)	Name	Iain Campbell
2.	Reason for the notification
(a)	Position/status	Sales Director
(b)	Initial notification/ Amendment	Initial notification
3.	Details of the issuer
(a)	Name	Midwich Group Plc
(b)	LEI	N/A
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
(a)	Description of the Financial Instrument	Ordinary shares of £0.01 each
(b)	Identification code of the Financial Instrument	GB00BYSXWW41
(c)	Nature of the transaction	Sale of shares
(d)	Price(s) and volume(s)	Price(s)	Volume(s)
		295p	584,280
(e)	Aggregated information -               Aggregated volume -               Price	N/A
(f)	Date of the transaction	05 April 2017
(g)	Place of the transaction	London Stock Exchange

1.	Details of the person discharging managerial responsibilities/person closely associated
(a)	Name	Tracey Perkins
2.	Reason for the notification
(a)	Position/status	Operations Director
(b)	Initial notification/ Amendment	Initial notification
3.	Details of the issuer
(a)	Name	Midwich Group Plc
(b)	LEI	N/A
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
(a)	Description of the Financial Instrument	Ordinary shares of £0.01 each
(b)	Identification code of the Financial Instrument	GB00BYSXWW41
(c)	Nature of the transaction	Sale of shares
(d)	Price(s) and volume(s)	Price(s)	Volume(s)
		295p	262,860
(e)	Aggregated information -               Aggregated volume -               Price	N/A
(f)	Date of the transaction	05 April 2017
(g)	Place of the transaction	London Stock Exchange

1.	Details of the person discharging managerial responsibilities/person closely associated
(a)	Name	Stephen Beahan
2.	Reason for the notification
(a)	Position/status	Managing Director - Invision UK
(b)	Initial notification/ Amendment	Initial notification
3.	Details of the issuer
(a)	Name	Midwich Group Plc
(b)	LEI	N/A
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
(a)	Description of the Financial Instrument	Ordinary shares of £0.01 each
(b)	Identification code of the Financial Instrument	GB00BYSXWW41
(c)	Nature of the transaction	Sale of shares
(d)	Price(s) and volume(s)	Price(s)	Volume(s)
		295p	172,140
(e)	Aggregated information -               Aggregated volume -               Price	N/A
(f)	Date of the transaction	05 April 2017
(g)	Place of the transaction	London Stock Exchange

1.	Details of the person discharging managerial responsibilities/person closely associated
(a)	Name	Garnett Stewart
2.	Reason for the notification
(a)	Position/status	General Manager - Square One Distribution
(b)	Initial notification/ Amendment	Initial notification
3.	Details of the issuer
(a)	Name	Midwich Group Plc
(b)	LEI	N/A
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
(a)	Description of the Financial Instrument	Ordinary shares of £0.01 each
(b)	Identification code of the Financial Instrument	GB00BYSXWW41
(c)	Nature of the transaction	Sale of shares
(d)	Price(s) and volume(s)	Price(s)	Volume(s)
		295p	76,960
(e)	Aggregated information -               Aggregated volume -               Price	N/A
(f)	Date of the transaction	05 April 2017
(g)	Place of the transaction	London Stock Exchange

For further information please contact:

Midwich Group Plc Stephen Fenby, Chief Executive Officer Anthony Bailey, Chief Financial Officer	via FTI Consulting
Investec Bank plc James Ireland / Carlton Nelson / Rob Baker	Tel: [phone]
FTI Consulting Oliver Winters / Alex Beagley / George Robinson	Tel: [phone]

Notes to Editors

Midwich is a specialist AV and document solutions distributor to the trade market, with operations in the UK and Ireland, France, Spain, Germany and Australasia. The Group's long-standing relationships with over 300 vendors, including blue-chip organisations such as Samsung, LG, Epson and NEC, supports a comprehensive product portfolio across major audio visual categories such as large format displays, projectors, digital signage and printers. The Group operates as the sole or largest in-country distributor for a number of its vendors in their respective product sets. The Directors attribute this position to the Group's technical expertise, extensive product knowledge and strong customer service offering built up over a number of years. The Group has a large and diverse base of approximately 10,000 customers, most of which are professional AV integrators and IT resellers serving sectors such as corporate, education, retail, residential and hospitality. Although the Group does not sell directly to end users, it believes that the majority of its products are used by commercial and educational establishments rather than consumers.

Initially a UK only distributor, the Group now has over 500 employees across the UK, Germany, France, Spain, Ireland, Australia and New Zealand, and in the year to 31 December 2016, 33 per cent of the Group's revenues were derived from outside the UK and Ireland. A core component of the Group's growth strategy is further expansion of its international operations and footprint into strategically targeted jurisdictions.

For further information, please visit www.midwichgroupplc.com

 

END

 

 

DSHSSSFLIFWSEDL