MIDWICH GROUP PLC — Director's Dealing 2024

Apr 5, 2024

National Storage Mechanism | Additional information

RNS Number : 4131J

Midwich Group PLC

05 April 2024

5 April 2024

Midwich Group plc

("Midwich" or the "Group")

Director/PDMR Shareholding

Midwich (AIM: MIDW), a global specialist audio visual distributor to the trade market, has received notification that Stephen Lamb has exercised 231,090 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 115,545 ordinary shares in the Company principally to fund the associated tax, national insurance and dealing charges. Furthermore, Mr. Lamb has transferred 115,545 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

Exercise of options and sale of shares

d)

Price(s) and volume(s)

Price	Volume
Exercise: GBP 0.01	231,090
Sale: GBP 4.13	115,545

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	231,090	£2,310.90
GBP 4.13	115,545	£476,729.77

f)

Date of the transaction

4 April 2024

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	115,545

e)

Aggregated information:  volume, Price

Aggregated Volume: 115,545

Aggregated Price: n/a

f)

Date of the transaction

4 April 2024

g)

Place of the transaction

London Stock Exchange (XLON)

For further information:

Midwich Group plc Stephen Fenby, Managing Director Stephen Lamb, Finance Director	+44 (0) 1379 649200
Investec Bank plc  (NOMAD and Joint Broker to Midwich) Carlton Nelson / Ben Griffiths	+44 (0) 20 7597 5970
Berenberg  (Joint Broker to Midwich)Ben Wright / Richard Andrews	+44 (0) 20 3207 7800
FTI Consulting Alex Beagley / Tom Hufton / Matthew Young	+44 (0) 20 3727 1000

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

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