Midwich Group PLC Grant of options and deferred bonus share awards

RNS Number : 2502O

Midwich Group PLC

02 December 2024

 

2 December 2024

 

Midwich Group plc

("Midwich" or the "Group")

 

Grant of options and deferred bonus share awards

 

Midwich Group (AIM: MIDW), a global specialist audio visual distributor to the trade market, today announces that it has granted 165,714 nominal cost options over ordinary shares of £0.01 each in the Company under the Midwich Group plc 2016 Long Term Incentive Plan (the "LTIP Award") to Stephen Lamb, Group Finance Director.

 

Performance conditions and vesting

 

The LTIP Award is subject to challenging performance conditions linked to growth in the Group's profitability and will ordinarily vest in 2027. The award is exercisable for up to 10 years from the date of grant and part of the award is subject to a two-year holding period from the date of vesting.

 

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	Grant of options
(d)	Price(s) and volume(s)	Price(s)	Volume(s)
		1p	165,714
(e)	Aggregated information -  Aggregated volume -   Price	n/a
(f)	Date of the transaction	29 November 2024
(g)	Place of the transaction	Off market

 

 

For further information

 

Midwich Group plc Stephen Fenby, Managing Director Stephen Lamb, Finance Director	[phone]
Investec Bank plc (NOMAD and Joint Broker to Midwich) Carlton Nelson / Ben Griffiths	[phone]
Berenberg (Joint Broker to Midwich) Ben Wright / Richard Andrews	[phone]
FTI Consulting Alex Beagley / Tom Hufton / Matthew Young	[phone]

 

About Midwich Group

 

Specialisation at scale.

Midwich Group is a network of businesses which partner with the world's leading technology companies to accelerate their growth. Selling into over 50 countries from 23 global locations, the Group specialises in audiovisual technology - whether in state-of-the-art meeting rooms or on a festival main stage, our solutions help the world connect, communicate, or experience wow moments.

 

Taking technology further.

With services ranging from product distribution to complex system design, focused marketing campaigns to flexible financing solutions, and showcase events to seed funding for startups, the Group's ever-expanding offering is designed to add value and solve its partners' biggest challenges.

 

This has enabled the Group to maintain strong relationships with global manufacturers and a diverse customer base of over 21,000, including professional integrators, event production companies and IT resellers in sectors such as education, corporate, retail and live events.

 

Enabling tomorrow.

With over 1,900 employees across the UK and Ireland, EMEA, Asia Pacific and North America, the company is committed to being a responsible employer.

 

The Group wants to do the right thing and actively works to limit its impact on the environment and communities, and recognises the importance of giving back - find out more about our sustainability activities here.

 

Help us go further, together.

 

Visit https://midwichgroupplc.com

 

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