Midwich Group PLC Director/PDMR Shareholding (0436Z)

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RNS Number : 0436Z

Midwich Group PLC

18 May 2021

18 May 2021

Midwich Group Plc

("Midwich" or "the Group")

Director/PDMR Shareholding

Midwich Group (AIM: MIDW), a global specialist audio visual distributor to the trade market, announces that Stephen Fenby, Group Managing Director has sold 163,000 ordinary shares in the Company ("Ordinary Shares") at an average price of 495.00 pence per share.

Following this transaction, Stephen Fenby and persons closely associated with him have an interest in 19,262,000 Ordinary Shares, representing 21.7% of the Company's share capital.

The Notification of Dealing Forms can be found below. These notifications are made under article 19 of the Market Abuse Regulation ("MAR").

 
 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/                      Initial notification 
         Amendment 
       -----------------------------------------  ---------------------------------- 
 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                             Ordinary shares of GBP0.01 each 
         the Financial Instrument 
       -----------------------------------------  ---------------------------------- 
 (b)    Identification                             GB00BYSXWW41 
         code of the Financial 
         Instrument 
       -----------------------------------------  ---------------------------------- 
 (c)    Nature of the transaction                  Sale of shares 
       -----------------------------------------  ---------------------------------- 
 (d)    Price(s) and volume(s)                     Price(s)          Volume(s) 
                                                  ----------------  ---------------- 
                                                   495.00p           163,000 
                                                  ----------------  ---------------- 
 
 (e)    Aggregated information 
    *    Aggregated volume                          163,000 
                                                     495.00p 
 
   - Price 
 -----------------------------------------------  ---------------------------------- 
 (f)    Date of the transaction                    18 May 2020 
       -----------------------------------------  ---------------------------------- 
 (g)    Place of the transaction                   London Stock Exchange 
       -----------------------------------------  ---------------------------------- 
 

For further information:

 
 Midwich Group plc                           Tel: +44 (0) 13 
  Stephen Fenby, Managing Director            7964 9200 
  Stephen Lamb, Finance Director 
 Investec Bank plc (NOMAD and Joint Broker   Tel: +44 (0) 20 
  to Midwich)                                 7597 5970 
  Carlton Nelson 
  Ben Griffiths 
 Berenberg (Joint Broker to Midwich)         Tel: +44 (0) 20 
  Ben Wright                                  3207 7800 
  Mark Whitmore 
  Alix Mecklenberg-Solodkoff 
 FTI Consulting                              Tel: +44 (0) 20 
  Alex Beagley                                3727 1000 
  Tom Hufton 
  Rafaella de Freitas 
 

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 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, 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

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May 18, 2021 11:13 ET (15:13 GMT)