REG - Midwich Group PLC - Issue of Equity

MidwichAnnouncement

07/04/2022 07:00

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RNS Number : 5162H  Midwich Group PLC  07 April 2022

7 April 2022

 

Midwich Group plc

("Midwich" or the "Group")

 

Issue of Equity

 

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 144,300 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 8 April 2022. 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 88,879,912. 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 / Mark Whitmore / Alix Mecklenberg-Solodkoff
 FTI Consulting                                            +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 600 vendors, including blue-chip
organisations, support a comprehensive product portfolio across major audio
visual categories such as large format displays, projectors, digital signage,
professional audio and unified communication. 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 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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