REG - Midwich Group PLC - Grant of LTIP awards

MidwichAnnouncement

Wed 08:15

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RNS Number : 8164M  Midwich Group PLC  24 December 2025

24 December 2025

 

Midwich Group plc

("Midwich" or the "Group")

 

Grant of LTIP awards

 

Midwich Group (AIM: MIDW), a global specialist audio visual distributor to the
trade market, today announces that it has granted 600,000 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") to Stephen Fenby, Group Managing
Director (the "2025 LTIP Award" or the "Award").

 

Background

 

Since IPO in 2016, the Group has granted LTIP awards to senior employees as
means to provide alignment with shareholders and incentivise the delivery of
long term performance against targets set by the Remuneration Committee at the
start of each three year period. Historically, participants have included the
Group Finance Director but not the Group Managing Director, as the Committee
felt that Mr. Fenby's existing shareholding provided sufficient shareholder
alignment.

 

The Committee and Board recognise that this is a critical moment for the Group
and its leadership - it is key that management are incentivised (and
appropriately rewarded) for successfully executing initiatives to drive future
performance for all stakeholders. It was therefore determined that the 2025
LTIP awards should include Stephen Fenby, Group Managing Director, to provide
direct alignment of specific financial and total shareholder returns ("TSR")
performance targets in line with the broader management team. The Award
represents approximately 285% of salary, based on the share price for the
purposes of grant (being181.00 p).

 

Performance conditions and vesting schedule

 

Recognising the importance of both financial performance and shareholder
return, the 2025 LTIP Award is subject to performance conditions based on:

●     Adjusted Profit Before Tax (50% weighting) - based on the
financial year ending 31 December 2027; and

●     Absolute Total Shareholders Return (50% weighting) - based on the
60 day period immediately following the 2028 interim results.

 

The Committee considers that the Adjusted PBT performance targets are
commercially sensitive at this time but will be disclosed retrospectively in
the relevant Directors' Remuneration Report. The Absolute TSR performance
targets are such that:

●     25% of this element of the Award will vest for TSR of 35% over the
performance period;

●     50% of this element of the Award will vest for TSR of 55% over the
performance period; and

●     100% of this element of the Award will vest for TSR of 75% over
the performance period.

 

The Award will vest in December 2028 and part of the award will be subject to
a two year post-vesting holding period.

 

 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                        Grant of 2025 LTIP award in the form of nominal cost options under the 2016
                                                       Long Term Incentive Plan
 (d)  Price(s) and volume(s)                           Price(s)                                Volume(s)
                                                       1p                                      600,000
 (e)  Aggregated information                            n/a

      -  Aggregated volume

      -   Price
 (f)  Date of the transaction                          23 December 2025
 (g)  Place of the transaction                         Off market

 

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

 

Specialisation at scale.

Midwich Group is a network of businesses which partner with the world's
leading technology companies to accelerate their growth. Selling into over 50
countries from 23 global locations, the Group specialises in audiovisual
technology - whether in state-of-the-art meeting rooms or on a festival main
stage, our solutions help the world connect, communicate, or experience wow
moments.

 

Taking technology further.

With services ranging from product distribution to complex system design,
focused marketing campaigns to flexible financing solutions, and showcase
events to seed funding for startups, the Group's ever-expanding offering is
designed to add value and solve its partners' biggest challenges.

 

This has enabled the Group to maintain strong relationships with global
manufacturers and a diverse customer base of over 21,000, including
professional integrators, event production companies and IT resellers in
sectors such as education, corporate, retail and live events.

 

Enabling tomorrow.

With over 1,800 employees across the UK and Ireland, EMEA, Asia Pacific and
North America, the company is committed to being a responsible employer.

 

The Group wants to do the right thing and actively works to limit its impact
on the environment and communities, and recognises the importance of giving
back - find out more about our sustainability activities here
(https://midwichgroupplc.com/sustainability/) .

 

For further information, please visit www.midwichgroupplc.com
(http://www.midwichgroupplc.com/)

 

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