Director/PDMR Shareholding

RNS Number : 0436Z

Midwich Group PLC

18 May 2021

 

18 May 2021

Midwich Group Plc

("Midwich" or "the Group")

Director/PDMR Shareholding

Midwich Group (AIM: MIDW), a global specialist audio visual distributor to the trade market, announces that Stephen Fenby, Group Managing Director has sold 163,000 ordinary shares in the Company ("Ordinary Shares") at an average price of 495.00 pence per share.

Following this transaction, Stephen Fenby and persons closely associated with him have an interest in 19,262,000 Ordinary Shares, representing 21.7% of the Company's share capital.

The Notification of Dealing Forms can be found below. These notifications are made under article 19 of the Market Abuse Regulation ("MAR").

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)
		495.00p	163,000
(e)	Aggregated information -  Aggregated volume -   Price	163,000 495.00p
(f)	Date of the transaction	18 May 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) Carlton Nelson Ben Griffiths	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, EMEA, 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, EMEA, 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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