Director/PDMR Shareholding

RNS Number : 6627T

Midwich Group PLC

21 July 2020

 

21 July 2020

Midwich Group PLC

("Midwich" or "the Group")

Director/PDMR Shareholdings

Midwich Group (AIM: MIDW), a specialist audio visual distributor to the trade market with operations across the UK and Ireland, Continental Europe, Asia Pacific and North America, announces that Stephen Fenby, Group Managing Director and Stephen Lamb, Group Finance Director, have today bought 25,000 and 2,500 ordinary shares in the Company ("Ordinary Shares") respectively. Stephen Fenby's shares were purchased at an average price of 377.36 pence per share and Stephen Lamb's at a price of 370.99 pence per share.

Following these transactions, Stephen Fenby and persons closely associated with him have an interest in 19,350,000 Ordinary Shares and Stephen Lamb has an interest in 10,691 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	Purchase of shares
(d)	Price(s) and volume(s)	Price(s)	Volume(s)
		377.36p	25,000
(e)	Aggregated information - Aggregated volume - Price	25,000 377.36p
(f)	Date of the transaction	21st July 2020
(g)	Place of the transaction	London Stock Exchange

1.	Details of the person discharging managerial responsibilities/person closely associated
(a)	Name	Stephen Lamb
2.	Reason for the notification
(a)	Position/status	Group Finance 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	Purchase of shares
(d)	Price(s) and volume(s)	Price(s)	Volume(s)
		370.99p	2,500
(e)	Aggregated information - Aggregated volume - Price	2,500 370.99p
(f)	Date of the transaction	21st July 2020
(g)	Place of the transaction	London Stock Exchange

For further information:

Midwich Group plc Stephen Fenby, Managing Director Stephen Lamb, Finance Director	Tel: [phone]
Investec Bank plc  (NOMAD and Joint Broker to Midwich) James Rudd Carlton Nelson	Tel: [phone]
Berenberg (Joint Broker to Midwich) Ben Wright Mark Whitmore Alix Mecklenberg-Solodkoff	Tel: [phone]
FTI Consulting Alex Beagley Tom Hufton Rafaella de Freitas	Tel: [phone]

About Midwich Group

Midwich is a specialist AV distributor to the trade market, with operations in the UK and Ireland, Continental Europe, Asia Pacific and North America. The Group's long-standing relationships with over 500 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 20,000 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 around 1,000 employees across the UK and Ireland, Continental Europe, Asia Pacific and North America. 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

 

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