29 Jan 2018 11:50
29 January 2018
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 in response to demand from an institutional investor, certain persons discharging managerial responsibilities (the "Selling Shareholders") have today sold an aggregate of 2,000,000 ordinary shares in the Company ("Ordinary Shares"), representing approximately 2.5 per cent of the issued share capital of Midwich at a price of 620 pence per share.
PDMR Dealings
Stephen Fenby, Managing Director, and closely associated persons sold 1,000,000 Ordinary Shares. Following this sale, Stephen Fenby and closely associated persons retain an interest in 21,280,000 Ordinary Shares, representing approximately 26.8 per cent of Midwich's issued share capital.
Iain Campbell, Sales Director of Midwich Limited, sold 500,000 Ordinary Shares. Following this sale, Iain Campbell retains an interest in 1,252,840 Ordinary Shares, representing approximately 1.6 per cent of Midwich's issued share capital.
Lee Baker, Commercial Director of Midwich Limited, sold 500,000 Ordinary Shares. Following this sale, Lee Baker retains an interest in 1,949,260 Ordinary Shares, representing approximately 2.5 per cent of Midwich's issued share capital.
1. | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) | Name | Stephen Fenby and closely associated persons | |
2. | Reason for the notification | ||
(a) | Position/status | Managing Director | |
(b) | Initial notification/ Amendment | Initial notification | |
3. | Details of the issuer | ||
(a) | Name | Midwich Group Plc | |
(b) | LEI | N/A | |
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) |
620p | 1,000,000 | ||
(e) | Aggregated information - Aggregated volume - Price | - 780,000 shares at 620p -110,000 shares at 620p -110,000 shares at 620p | |
(f) | Date of the transaction | 29 January 2018 | |
(g) | Place of the transaction | London Stock Exchange | |
1. | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) | Name | Iain Campbell | |
2. | Reason for the notification | ||
(a) | Position/status | Sales Director, Midwich Limited | |
(b) | Initial notification/ Amendment | Initial notification | |
3. | Details of the issuer | ||
(a) | Name | Midwich Group Plc | |
(b) | LEI | N/A | |
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) |
620p | 500,000 | ||
(e) | Aggregated information - Aggregated volume - Price | N/A | |
(f) | Date of the transaction | 29 January 2018 | |
(g) | Place of the transaction | London Stock Exchange | |
1. | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) | Name | Lee Baker | |
2. | Reason for the notification | ||
(a) | Position/status | Commercial Director, Midwich Limited | |
(b) | Initial notification/ Amendment | Initial notification | |
3. | Details of the issuer | ||
(a) | Name | Midwich Group Plc | |
(b) | LEI | N/A | |
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) |
620p | 500,000 | ||
(e) | Aggregated information - Aggregated volume - Price | N/A | |
(f) | Date of the transaction | 29 January 2018 | |
(g) | Place of the transaction | London Stock Exchange | |
For further information please contact:
Midwich Group Plc Stephen Fenby, Managing Director Anthony Bailey, Finance Director
| via FTI Consulting |
Investec Bank plc James Ireland / James Rudd Carlton Nelson / Rob Baker
| Tel: +44 (0)20 7597 5970 |
FTI Consulting Alex Beagley / Sam Power
| Tel: +44 (0)20 3727 1000 |
Notes to Editors
Midwich is a specialist AV and document solutions distributor to the trade market, with operations in the UK and Ireland, France, Germany, Iberia, the Benelux and Australasia. The Group's long-standing relationships with over 300 vendors, including blue-chip organisations such as Samsung, LG, Epson and NEC, supports a comprehensive product portfolio across major audio visual categories such as large format displays, projectors, digital signage and printers. 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 in excess of 10,000 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 over 700 employees across the UK, Germany, France, Ireland, Iberia, the Benelux, Australia and New Zealand. 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
Midwich Group (MIDW)