REG - Midwich Group PLC - Director/PDMR Shareholding

MidwichAnnouncement

11/11/2021 17:30

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RNS Number : 1507S  Midwich Group PLC  11 November 2021

Midwich Group Plc

("Midwich" or "the Company")

 

Director/PDMR Shareholding

 

Midwich (AIM: MIDW), a global specialist audio visual distributor to the trade
market, has received notification that Stephen Lamb has exercised 50,000
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 23,600 ordinary shares in the
Company to fund the associated tax, national insurance and dealing charges.
Furthermore, Mr. Lamb has transferred 13,200 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                                                       Sale of shares
 d)  Price(s) and volume(s)

Price(s)   Volume(s)
                                                                                     GBP 0.01   50,000
                                                                                     GBP 6.50   23,600

 

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

                                                                               GBP 0.01   50,000                £500
     Exercise of options                                                             GBP 6.50   23,600                £153,400

     Sales of shares to satisfy income tax, national insurance and dealing charges

 f)  Date of the transaction                                                         10 November

 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   50,000                £500
 GBP 6.50   23,600                £153,400

f)

Date of the transaction

 

10 November

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       13,200

 

 e)  Aggregated information:  volume, Price           Aggregated Volume: 13,200

                                                      Aggregated Price: n/a
 f)  Date of the transaction                          10 November

 g)  Place of the transaction                         London Stock Exchange (XLON)

 

 

e)

Aggregated information:  volume, Price

Aggregated Volume: 13,200

Aggregated Price: n/a

f)

Date of the transaction

 

10 November

g)

Place of the transaction

London Stock Exchange (XLON)

 

 

For further information:

 

 Midwich Group plc                                       Tel: +44 (0) 13 7964 9200

 Stephen Fenby, Managing Director

 Stephen Lamb, Finance Director

 Investec Bank plc (NOMAD and Joint Broker to Midwich)   Tel: +44 (0) 20 7597 5970

 Carlton Nelson

 Ben Griffiths

 Berenberg (Joint Broker to Midwich)                     Tel: +44 (0) 20 3207 7800

 Ben Wright

 Mark Whitmore

 Alix Mecklenberg-Solodkoff

 FTI Consulting                                          Tel: +44 (0) 20 3727 1000

 Alex Beagley

 Tom Hufton

 Rafaella de Freitas

 

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 500 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 1,000 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
(http://www.midwichgroupplc.com/)

 

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