Director/PDMR Shareholding

RNS Number : 1507S

Midwich Group PLC

11 November 2021

 

Midwich Group Plc

("Midwich" or "the Company")

Director/PDMR Shareholding

Midwich (AIM: MIDW), a global specialist audio visual distributor to the trade market, has received notification that Stephen Lamb has exercised 50,000 nominal cost options over ordinary shares of £0.01 each in the Company under the Midwich Group plc 2016 Long Term Incentive Plan (the "LTIP Award"), and following this exercise of options, has sold 23,600 ordinary shares in the Company to fund the associated tax, national insurance and dealing charges. Furthermore, Mr. Lamb has transferred 13,200 ordinary shares in the Company to his wife, Victoria Sullivan.

This information is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014. 

1	Details of the person discharging managerial responsibilities
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, emission allowance market participant, auction platform, auctioneer or auction monitor
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) GBP 0.01 50,000 GBP 6.50 23,600
e)	Aggregated information:  volume, Price Exercise of options Sales of shares to satisfy income tax, national insurance and dealing charges	Price(s) Aggregated Volume(s) Aggregated Total GBP 0.01 50,000 £500 GBP 6.50 23,600 £153,400
f)	Date of the transaction	10 November
g)	Place of the transaction	London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities
a)	Name	Victoria Sullivan
2	Reason for the notification
a)	Position/status	Wife to the Group Finance Director
b)	Initial notification/ Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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	Transfer of shares from Stephen Lamb
d)	Price(s) and volume(s)	Price(s) Volume(s) Nil 13,200
e)	Aggregated information:  volume, Price	Aggregated Volume: 13,200 Aggregated Price: n/a
f)	Date of the transaction	10 November
g)	Place of the transaction	London Stock Exchange (XLON)

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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