Last checked at 10 Feb 2020 14:28
10 February 2020
Midwich Group Plc
("Midwich" or "the Group")
Director/PDMR Shareholding
Midwich, the leading specialist audio visual and document solutions distributor to the trade market, announces that Stephen Fenby, Group Managing Director, and Sharon Herbert, spouse of the Group's Chairman Andrew Herbert, have each purchased 200,000 and 3,000 ordinary shares in the Company ("Ordinary Shares") respectively at a price of 500.00 pence per share.
The purchases relate to Stephen Fenby's and Sharon Herbert's previously disclosed intention to participate in the Placing announced by the Group on 7 February 2020.
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) |
|
| 500.00p
| 200,000 |
|
|
| |
(e) | Aggregated information - Aggregated volume - Price |
N/A - single transaction | |
(f) | Date of the transaction | 7 February 2020 | |
(g) | Place of the transaction | London Stock Exchange | |
1. | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) | Name | Sharon Herbert (spouse of Andrew Herbert, Chairman of the Group) | |
2. | Reason for the notification | ||
(a) | Position/status | Person Closely Associated | |
(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) |
|
| 500.00p
| 3,000 |
|
|
| |
(e) | Aggregated information - Aggregated volume - Price |
N/A - single transaction | |
(f) | Date of the transaction | 7 February 2020 | |
(g) | Place of the transaction | London Stock Exchange | |
For further information please contact:
Midwich Group Plc Stephen Fenby, Managing Director Stephen Lamb, Finance Director
| via FTI Consulting |
Investec Bank plc (NOMAD and Joint Broker to Midwich) James Rudd / Carlton Nelson / Ben Griffiths / Tejas Padalkar
| Tel: +44 (0)20 7597 5970 |
Berenberg (Joint Broker to Midwich) Ben Wright / Mark Whitmore / Laure Fine
| Tel: +44 (0)20 3207 7800 |
FTI Consulting Alex Beagley / Tom Hufton / Fern Duncan
| Tel: +44 (0)20 3727 1000 |
Notes to Editors
Midwich is a specialist AV distributor to the trade market, with operations in the UK and Ireland, Continental Europe and Asia-Pacific. The Group's long-standing relationships with over 400 vendors, including blue-chip organisations, support a comprehensive product portfolio across major audio visual categories such as large format displays, projectors, digital signage, unified communications 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 1,000 employees across the UK and Ireland, Continental Europe, 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