5 April 2024
Midwich Group plc
("Midwich" or the "Group")
Director/PDMR Shareholding
Midwich (AIM: MIDW), a global specialist audio visual distributor to the trade market, has received notification that Stephen Lamb has exercised 231,090 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 115,545 ordinary shares in the Company principally to fund the associated tax, national insurance and dealing charges. Furthermore, Mr. Lamb has transferred 115,545 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 | Exercise of options and sale of shares | |||||||||
| d) | Price(s) and volume(s) |
| |||||||||
| e) | Aggregated information: volume, Price Exercise of options Sales of shares to satisfy income tax, national insurance and dealing charges
|
| |||||||||
| f) | Date of the transaction
| 4 April 2024 | |||||||||
| 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) |
| ||||
| e) | Aggregated information: volume, Price | Aggregated Volume: 115,545 Aggregated Price: n/a | ||||
| f) | Date of the transaction
| 4 April 2024 | ||||
| g) | Place of the transaction | London Stock Exchange (XLON) | ||||
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 Group is a specialist AV distributor, with operations in the UK and Ireland, EMEA, Asia Pacific and North America. The Group's long-standing relationships with over 800 vendors, including blue-chip organisations, support a comprehensive product portfolio across major audio visual categories such as displays, projectors, technical AV, broadcast, professional audio, lighting and unified communications. 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 24,000 trade customers, most of which are professional AV integrators and IT resellers serving sectors such as corporate, education, retail, residential and hospitality.
Initially a UK only distributor, the Group now has approximately 1,900 employees across the UK and Ireland, EMEA, North America and Asia Pacific. 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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