REG - Midwich Group PLC - Director/PDMR Shareholding

MidwichAnnouncement

05/04/2024 07:00

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RNS Number : 4131J  Midwich Group PLC  05 April 2024

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)

Price                Volume
                                                                                     Exercise: GBP 0.01   231,090
                                                                                     Sale: GBP 4.13       115,545

 
 e)  Aggregated information:  volume, Price                                          Price(s)   Aggregated Volume(s)  Aggregated Total

                                                                               GBP 0.01   231,090               £2,310.90
     Exercise of options                                                             GBP 4.13   115,545               £476,729.77

     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)

 

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   231,090               £2,310.90
 GBP 4.13   115,545               £476,729.77

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)                           Price(s)  Volume(s)
                                                      Nil       115,545

 

 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)

 

 

 

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

Stephen Fenby, Managing Director

Stephen Lamb, Finance Director
 Investec Bank plc (NOMAD and Joint Broker to Midwich)    +44 (0) 20 7597 5970

 Carlton Nelson / Ben Griffiths
 Berenberg (Joint Broker to Midwich)                      +44 (0) 20 3207 7800

Ben Wright / Richard Andrews
 FTI Consulting                                           +44 (0) 20 3727 1000

Alex Beagley / Tom Hufton / Matthew Young

 

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
(http://www.midwichgroupplc.com/)

 

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