REG - Midwich Group PLC - Issue of Equity & Total Voting Rights

MidwichAnnouncement

26/03/2024 16:00

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RNS Number : 3886I  Midwich Group PLC  26 March 2024

26 March 2024

 

Midwich Group plc

("Midwich", the "Group" or the "Company")

 

Issue of Equity & Total Voting Rights

 

Midwich Group (AIM: MIDW), a global specialist audio visual distributor to the
trade market, has applied to the London Stock Exchange for the listing of an
additional 993,800 ordinary shares of one pence each in the Company ("Ordinary
Shares") to be admitted to trading on AIM.

 

The Ordinary Shares will be issued to the trustees of the Company's Employee
Benefit Trusts and used to satisfy awards relating to the Midwich Group plc
2016 Share Incentive Plan and those vesting under the Midwich Group plc 2016
Long Term Incentive Plan.

 

It is expected that admission of these Ordinary Shares will become effective
on 2 April 2024. These Ordinary Shares, which will rank pari passu with the
existing Ordinary Shares in issue, will be allotted under the plan listed
above.

 

Following the anticipated admission of these shares, the total number of
ordinary shares of one pence each in the capital of the Company in issue will
be 104,245,126. This figure may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
Company.

 

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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