REG - Midwich Group PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">MIDWM.L</Origin>

MidwichAnnouncement

29/01/2018 11:55

RNS Number : 2132D
Midwich Group PLC
29 January 2018
29 January 2018
Midwich Group Plc
("Midwich" or the "Group")
DIRECTOR / PDMR SHAREHOLDING
Midwich, the leading specialist audio visual and document solutions distributor to the trade market, announces that in response to demand from an institutional investor, certain persons discharging managerial responsibilities (the "Selling Shareholders") have today sold an aggregate of 2,000,000 ordinary shares in the Company ("Ordinary Shares"), representing approximately 2.5 per cent of the issued share capital of Midwich at a price of 620 pence per share. 
PDMR Dealings
Stephen Fenby, Managing Director, and closely associated persons sold1,000,000Ordinary Shares.Following this sale, Stephen Fenby and closely associated persons retain an interest in21,280,000 Ordinary Shares, representing approximately26.8per cent of Midwich's issued share capital.
Iain Campbell, Sales Director of Midwich Limited, sold500,000Ordinary Shares.Following this sale, Iain Campbell retains an interest in1,252,840 Ordinary Shares, representing approximately1.6per cent of Midwich's issued share capital.
Lee Baker, Commercial Director of Midwich Limited, sold500,000Ordinary Shares.Following this sale, Lee Baker retains an interest in1,949,260 Ordinary Shares, representing approximately2.5per cent of Midwich's issued share capital.
1.
Details of the person discharging managerial responsibilities/person closely associated
(a)
Name
Stephen Fenby and closely associated persons
2.
Reason for the notification
(a)
Position/status
Managing Director 
(b)
Initial notification/ Amendment
Initial notification
3.
Details of the issuer
(a)
Name
Midwich Group Plc
(b)
LEI
N/A
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)


620p
1,000,000



(e)
Aggregated information
- Aggregated volume
-  Price
- 780,000 shares at 620p
-110,000 shares at 620p
-110,000 shares at 620p
(f)
Date of the transaction
29 January 2018
(g)
Place of the transaction
London Stock Exchange
1.
Details of the person discharging managerial responsibilities/person closely associated
(a)
Name
Iain Campbell
2.
Reason for the notification
(a)
Position/status
Sales Director, Midwich Limited 
(b)
Initial notification/ Amendment
Initial notification
3.
Details of the issuer
(a)
Name
Midwich Group Plc
(b)
LEI
N/A
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)


620p
500,000



(e)
Aggregated information
- Aggregated volume
-  Price
N/A
(f)
Date of the transaction
29 January 2018
(g)
Place of the transaction
London Stock Exchange
1.
Details of the person discharging managerial responsibilities/person closely associated
(a)
Name
Lee Baker
2.
Reason for the notification
(a)
Position/status
Commercial Director, Midwich Limited 
(b)
Initial notification/ Amendment
Initial notification
3.
Details of the issuer
(a)
Name
Midwich Group Plc
(b)
LEI
N/A
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)


620p
500,000



(e)
Aggregated information
- Aggregated volume
-  Price
N/A
(f)
Date of the transaction
29 January 2018
(g)
Place of the transaction
London Stock Exchange
For further information please contact:
Midwich Group Plc
Stephen Fenby, Managing Director
Anthony Bailey, Finance Director
via FTI Consulting
Investec Bank plc
James Ireland / James Rudd
Carlton Nelson / Rob Baker
Tel: +44 (0)20 7597 5970
FTI Consulting
Alex Beagley / Sam Power 
Tel: +44 (0)20 3727 1000
Notes to Editors
Midwich is a specialist AV and document solutions distributor to the trade market, with operations in the UK and Ireland, France, Germany, Iberia, the Benelux and Australasia. The Group's long-standing relationships with over 300 vendors, including blue-chip organisations such as Samsung, LG, Epson and NEC, supports a comprehensive product portfolio across major audio visual categories such as large format displays, projectors, digital signage and printers. 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 in excess of 10,000 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 over 700 employees across the UK, Germany, France, Ireland, Iberia, the Benelux, Australia and New Zealand. 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

This information is provided by RNS
The company news service from the London Stock Exchange
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