REG - Midwich Group PLC - Result of AGM

MidwichAnnouncement

14/05/2024 17:00

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RNS Number : 4242O  Midwich Group PLC  14 May 2024

14 May 2024

 

Midwich Group plc

("Midwich" or the "Group")

 

Result of AGM

 

Midwich Group (AIM: MIDW), a global specialist audio visual ("AV") distributor
to the trade market, announces that at the Annual General Meeting held
earlier today, all resolutions were duly passed.

 

Details of the proxy votes received on each resolution by Midwich's Registrar
are set out below:

 

 Resolution                                                                              In Favour                    Against                     Total votes cast  % ISC voted  Withheld votes
         Number of                                                                       %           Number of votes  %          Number of votes

         votes
 1.      Ordinary resolution to receive and adopt the Company's annual accounts for the  84,816,933  100.00%          0          0.00%            84,816,933        81.36%       0
         financial year ended 31 December 2023
 2.      Ordinary resolution to re-elect Stephen Fenby as a director of the Company.     84,816,933  100.00%          0          0.00%            84,816,933        81.36%       0
 3.      Ordinary resolution to re-elect Andrew Herbert as a director of the Company.    83,305,649  98.75%           1,053,789  1.25%            84,359,438        80.92%       457,495
 4.      Ordinary resolution to re-elect Mike Ashley as a director of the Company.       84,076,933  99.13%           740,000    0.87%            84,816,933        81.36%       0
 5.      Ordinary resolution to re-elect Stephen Lamb as a director of the Company.      84,812,868  100.00%          4,065      0.00%            84,816,933        81.36%       0
 6.      Ordinary resolution to re-elect Hilary Wright as a director of the Company.     84,816,933  100.00%          0          0.00%            84,816,933        81.36%       0
 7.      Ordinary resolution to re-elect Alison Seekings as a director of the Company.   84,816,933  100.00%          0          0.00%            84,816,933        81.36%       0
 8.      Ordinary resolution to re-appoint Grant Thornton UK LLP as the Company's        83,634,569  98.61%           1,182,364  1.39%            84,816,933        81.36%       0
         auditors.
 9.      Ordinary resolution to declare a final dividend for the financial year ended    84,816,933  100.00%          0          0.00%            84,816,933        81.36%       0
         31 December 2023 of 11.0p per ordinary share.
 10.     Ordinary resolution to approve the Directors' Remuneration Report (excluding    82,935,854  97.78%           1,880,682  2.22%            84,816,536        81.36%       397
         the directors' remuneration policy).
 11.     Ordinary resolution to authorise the directors to allot shares.                 83,351,667  98.27%           1,464,869  1.73%            84,816,536        81.36%       397
 12.     Special resolution to disapply pre-emption rights.                              83,345,678  98.27%           1,470,858  1.73%            84,816,536        81.36%       397
 13.     Further special resolution to disapply pre-emption rights in circumstances      83,345,678  98.27%           1,470,858  1.73%            84,816,536        81.36%       397
         permitted by the Pre-emption Group guidelines.
 14.     Further special resolution that the Company be generally and unconditionally    71,400,053  100.00%          946        0.00%            71,400,999        68.49%       13,415,934
         authorised for the purposes of Section 701 of the CA 2006 to make market
         purchases of the Company's own shares.
 15.     Further special resolution to ratify certain dividend payments between          67,344,647  100.00%          0          0.00%            67,344,647        64.60%       17,472,286
         2018-2023.

 

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

                                                         midwich@fticonsulting.com (mailto:midwich@fticonsulting.com)

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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