Director/PDMR Shareholding

RNS Number : 5177Z

Midwich Group PLC

15 September 2022

 

15 September 2022

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 purchased 20,000 ordinary shares in the Company ("Ordinary Shares") at 500 pence per share.

Following this transaction, Stephen Fenby and persons closely associated with him have an interest in 17,282,000 Ordinary Shares, representing 19.4% of the Company's share capital.

The Notification of Dealing Form 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	Purchase of shares
(d)	Price(s) and volume(s)	Price(s)	Volume(s)
		500.00p	20,000
(e)	Aggregated information -  Aggregated volume -   Price	20,000 500.00p
(f)	Date of the transaction	14 September 2022
(g)	Place of the transaction	London Stock Exchange

For further information:

Midwich Group plc Stephen Fenby, Managing Director Stephen Lamb, Finance Director	[phone]
Investec Bank plc   (NOMAD and Joint Broker to Midwich) Carlton Nelson / Ben Griffiths	[phone]
Berenberg   (Joint Broker to Midwich) Ben Wright / Richard Andrews /   Alix Mecklenberg-Solodkoff	[phone]
FTI Consulting Alex Beagley / Tom Hufton /  Rafaella de Freitas	[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 600 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 1,500 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.

 

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