Last checked at 21 Jul 2020 14:54
21 July 2020
Midwich Group PLC
("Midwich" or "the Group")
Director/PDMR Shareholdings
Midwich Group (AIM: MIDW), a specialist audio visual distributor to the trade market with operations across the UK and Ireland, Continental Europe, Asia Pacific and North America, announces that Stephen Fenby, Group Managing Director and Stephen Lamb, Group Finance Director, have today bought 25,000 and 2,500 ordinary shares in the Company ("Ordinary Shares") respectively. Stephen Fenby's shares were purchased at an average price of 377.36 pence per share and Stephen Lamb's at a price of 370.99 pence per share.
Following these transactions, Stephen Fenby and persons closely associated with him have an interest in 19,350,000 Ordinary Shares and Stephen Lamb has an interest in 10,691 Ordinary Shares.
1. | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) | Name | Stephen Fenby | |
2. | Reason for the notification | ||
(a) | Position/status | Group Managing Director | |
(b) | Initial notification/ Amendment | Initial notification | |
3. | Details of the issuer | ||
(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 | Purchase of shares | |
(d) | Price(s) and volume(s) | Price(s) | Volume(s) |
377.36p | 25,000 | ||
(e) | Aggregated information
- Aggregated volume
- Price
|
25,000
377.36p | |
(f) | Date of the transaction | 21st July 2020 | |
(g) | Place of the transaction | London Stock Exchange | |
1. | Details of the person discharging managerial responsibilities/person closely associated | ||
(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 | ||
(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 | Purchase of shares | |
(d) | Price(s) and volume(s) | Price(s) | Volume(s) |
370.99p | 2,500 | ||
(e) | Aggregated information
- Aggregated volume
- Price |
2,500
370.99p
| |
(f) | Date of the transaction | 21st July 2020 | |
(g) | Place of the transaction | London Stock Exchange | |
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) James Rudd Carlton Nelson
| 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, Continental Europe, 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, Continental Europe, 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