Director/PDMR Shareholding

RNS Number : 3202X

Midwich Group PLC

28 April 2019

 

29 April 2019

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 Stephen Fenby, Group Managing Director, has sold 1,000,000 ordinary shares in the Company ("Ordinary Shares") at an average price of 625.00 pence per share.

Stephen Fenby now has an interest in 19,040,000 Ordinary Shares.

1.	Details of the person discharging managerial responsibilities/person closely associated
(a)	Name	Stephen Fenby
2.	Reason for the notification
(a)	Position/status	Group Managing Director
(b)	Initial notification/ Amendment	Initial notification
3.	Details of the issuer
(a)	Name	Midwich Group Plc
(b)	LEI	213800TUH2ZU68PZZN12
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)
		625.00p	1,000,000
(e)	Aggregated information -               Aggregated volume -               Price	1,000,000 625.00p
(f)	Date of the transaction	26 April 2019
(g)	Place of the transaction	London Stock Exchange

For further information please contact:

Midwich Group Plc Stephen Fenby, Managing Director Stephen Lamb, Finance Director	via FTI Consulting
Investec Bank plc (NOMAD and Joint Broker to Midwich) James Rudd / Carlton Nelson	Tel: [phone]
Berenberg (Joint Broker to Midwich) Ben Wright / Mark Whitmore / Laure Fine	Tel: [phone]
FTI Consulting Alex Beagley / Sam Power	Tel: [phone]

Notes to Editors

Midwich is a specialist AV distributor to the trade market, with operations in the UK and Ireland, Continental Europe and Asia Pacific. The Group's long-standing relationships with over 400 vendors, including blue-chip organisations, support a comprehensive product portfolio across major audio visual categories such as large format displays, projectors, digital signage and professional audio. 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 over 17,000 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 900 employees across the UK and Ireland, Continental Europe and Asia Pacific. 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.midwichplc.com

 

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