30 October 2023
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 50,000 ordinary shares in the Company ("Ordinary Shares") at 375.8 pence per share.
Following this transaction, Stephen Fenby and persons closely associated with him have an interest in 17,381,170 Ordinary Shares, representing 16.8% 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) |
| | | 375.77p | 50,000 |
| | |
| |
| (e) | Aggregated information - Aggregated volume - Price |
50,000 375.77p | |
| (f) | Date of the transaction | 27 October 2023 | |
| (g) | Place of the transaction | London Stock Exchange | |
For further information:
| Midwich Group plc |
| +44 (0) 1379 649200 |
| Investec Bank plc (NOMAD and Joint Broker to Midwich) Carlton Nelson / Ben Griffiths |
| +44 (0) 20 7597 5970 |
| Berenberg (Joint Broker to Midwich) |
| +44 (0) 20 3207 7800 |
| FTI Consulting |
| +44 (0) 20 3727 1000 |
About Midwich Group
Midwich is a specialist AV distributor to the trade market, with operations in EMEA, the UK and Ireland, 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 1,800 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
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.