Last checked at 20 Mar 2023 11:53
20 March 2023
Midwich Group plc
("Midwich" or the "Group")
Issue of Equity & Total Voting Rights
Midwich Group (AIM: MIDW), a global specialist audio visual distributor to the trade market, has applied to the London Stock Exchange for the listing of an additional 2,312,476 ordinary shares of one pence each in the Company ("Ordinary Shares") to be admitted to trading on AIM.
The Ordinary Shares will be issued to the trustees of the Company's Employee Benefit Trusts, and used to satisfy awards relating to the Midwich Group plc 2016 Share Incentive Plan and those vesting under the Midwich Group plc 2016 Long Term Incentive Plan.
It is expected that admission of these Ordinary Shares will become effective on 21 March 2023. These Ordinary Shares, which will rank pari passu with the existing Ordinary Shares in issue, will be allotted under the plan listed above.
Following the anticipated admission of these shares, the total number of ordinary shares of one pence each in the capital of the Company in issue will be 91,192,388. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.
For further information:
Midwich Group plcStephen Fenby, Managing DirectorStephen 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 / Arnav Kapoor | +44 (0) 20 3207 7800 |
FTI ConsultingAlex Beagley / Tom Hufton / Rafaella de Freitas | +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 600 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 22,000 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 1,600 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