REG - Midwich Group PLC - Grant of options and deferred bonus share awards

MidwichAnnouncement

02/12/2024 07:00

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RNS Number : 2502O  Midwich Group PLC  02 December 2024

2 December 2024

 

Midwich Group plc

("Midwich" or the "Group")

 

Grant of options and deferred bonus share awards

 

Midwich Group (AIM: MIDW), a global specialist audio visual distributor to
the trade market, today announces that it has granted 165,714 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")
to Stephen Lamb, Group Finance Director.

 

Performance conditions and vesting

 

The LTIP Award is subject to challenging performance conditions linked to
growth in the Group's profitability and will ordinarily vest in 2027. The
award is exercisable for up to 10 years from the date of grant and part of the
award is subject to a two-year holding period from the date of vesting.

 

 1.   Details of the person discharging managerial responsibilities/person closely
      associated
 (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
 (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 options
 (d)  Price(s) and volume(s)                           Price(s)                    Volume(s)
                                                       1p                          165,714
 (e)  Aggregated information                            n/a

      -  Aggregated volume

      -   Price
 (f)  Date of the transaction                          29 November 2024
 (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 1,900 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/) .

 

Help us go further, together.

 

Visit https://midwichgroupplc.com (https://midwichgroupplc.com/)

 

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