MIDWICH GROUP PLC

Director's Dealing • Nov 11, 2021

National Storage Mechanism | Additional information

RNS Number : 1507S

Midwich Group PLC

11 November 2021

Midwich Group Plc

("Midwich" or "the Company")

Director/PDMR Shareholding

Midwich (AIM: MIDW), a global specialist audio visual distributor to the trade market, has received notification that Stephen Lamb has exercised 50,000 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 Award"), and following this exercise of options, has sold 23,600 ordinary shares in the Company to fund the associated tax, national insurance and dealing charges. Furthermore, Mr. Lamb has transferred 13,200 ordinary shares in the Company to his wife, Victoria Sullivan.

This information is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014. 

1

Details of the person discharging managerial responsibilities

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, emission allowance market participant, auction platform, auctioneer or auction monitor

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

Sale of shares

d)

Price(s) and volume(s)

Price(s)	Volume(s)
GBP 0.01	50,000
GBP 6.50	23,600

e)

Aggregated information:  volume, Price

Exercise of options

Sales of shares to satisfy income tax, national insurance and dealing charges

Price(s)	Aggregated Volume(s)	Aggregated Total
GBP 0.01	50,000	£500
GBP 6.50	23,600	£153,400

f)

Date of the transaction

10 November

g)

Place of the transaction

London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities

a)

Name

Victoria Sullivan

2

Reason for the notification

a)

Position/status

Wife to the Group Finance Director

b)

Initial notification/ Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

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

Transfer of shares from Stephen Lamb

d)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	13,200

e)

Aggregated information:  volume, Price

Aggregated Volume: 13,200

Aggregated Price: n/a

f)

Date of the transaction

10 November

g)

Place of the transaction

London Stock Exchange (XLON)

For further information:

Midwich Group plc Stephen Fenby, Managing Director Stephen Lamb, Finance Director	Tel: +44 (0) 13 7964 9200
Investec Bank plc (NOMAD and Joint Broker to Midwich) Carlton Nelson Ben Griffiths	Tel: +44 (0) 20 7597 5970
Berenberg (Joint Broker to Midwich) Ben Wright Mark Whitmore Alix Mecklenberg-Solodkoff	Tel: +44 (0) 20 3207 7800
FTI Consulting Alex Beagley Tom Hufton Rafaella de Freitas	Tel: +44 (0) 20 3727 1000

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 500 vendors, including blue-chip organisations, support a comprehensive product portfolio across major audio visual categories such as large format displays, projectors, digital signage and professional audio. 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 around 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

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