Midwich Group PLC Result of AGM (8389Y)

TIDMMIDW

RNS Number : 8389Y

Midwich Group PLC

09 May 2023

9 May 2022

Midwich Group plc

("Midwich" or the "Group")

Result of AGM

Midwich Group (AIM: MIDW), a global specialist audio visual ("AV") distributor to the trade market , announces that at the Annual General Meeting held earlier today, all resolutions were duly passed.

Details of the proxy votes received on each resolution by Midwich's Registrar are set out below:

 
 Resolution                            In Favour              Against             Withheld    Total        % ISC 
                                                                                               votes        voted 
                                                                                               cast 
                                           Number         %      Number       %      Number 
                                               of              of votes            of votes 
                                            votes 
                                      -----------  --------  ----------  ------  ----------  -----------  ------- 
       Ordinary resolution 
        to receive and adopt 
        the Company's annual 
        accounts for the financial 
        year ended 31 December 
 1.     2022                           79,849,320   100.00%         160   0.00%           0   79,849,480   87.56% 
      ------------------------------  -----------  --------  ----------  ------  ----------  -----------  ------- 
       Ordinary resolution 
        to re-elect Stephen 
        Fenby as a director 
 2.     of the Company.                79,124,451    99.09%     725,029   0.91%           0   79,849,480   87.56% 
      ------------------------------  -----------  --------  ----------  ------  ----------  -----------  ------- 
       Ordinary resolution 
        to re-elect Andrew 
        Herbert as a director 
 3.     of the Company.                77,956,260    97.63%   1,893,220   2.37%           0   79,849,480   87.56% 
      ------------------------------  -----------  --------  ----------  ------  ----------  -----------  ------- 
       Ordinary resolution 
        to re-elect Mike Ashley 
        as a director of the 
 4.     Company.                       78,738,975    98.61%   1,110,505   1.39%           0   79,849,480   87.56% 
      ------------------------------  -----------  --------  ----------  ------  ----------  -----------  ------- 
       Ordinary resolution 
        to re-elect Stephen 
        Lamb as a director 
 5.     of the Company.                79,124,451    99.09%     725,029   0.91%           0   79,849,480   87.56% 
      ------------------------------  -----------  --------  ----------  ------  ----------  -----------  ------- 
       Ordinary resolution 
        to re-elect Hilary 
        Wright as a director 
 6.     of the Company.                79,849,320   100.00%         160   0.00%           0   79,849,480   87.56% 
      ------------------------------  -----------  --------  ----------  ------  ----------  -----------  ------- 
       Ordinary resolution 
        to re-appoint Grant 
        Thornton UK LLP as 
 7.     the Company's auditors.        78,850,009    98.75%     999,471   1.25%           0   79,849,480   87.56% 
      ------------------------------  -----------  --------  ----------  ------  ----------  -----------  ------- 
       Ordinary resolution 
        to declare a final 
        dividend for the financial 
        year ended 31 December 
        2022 of 10.5p per 
 8.     ordinary share.                79,849,320   100.00%         160   0.00%           0   79,849,480   87.56% 
      ------------------------------  -----------  --------  ----------  ------  ----------  -----------  ------- 
       Ordinary resolution 
        to approve the Directors' 
        Remuneration Report 
        (excluding the directors' 
 9.     remuneration policy).          78,284,967    98.04%   1,564,513   1.96%           0   79,849,480   87.56% 
      ------------------------------  -----------  --------  ----------  ------  ----------  -----------  ------- 
       Ordinary resolution 
        to authorise the directors 
 10.    to allot shares.               79,124,054    99.09%     725,029   0.91%         397   79,849,083   87.56% 
      ------------------------------  -----------  --------  ----------  ------  ----------  -----------  ------- 
       Special resolution 
        to disapply pre-emption 
 11.    rights.                        79,124,054    99.09%     725,029   0.91%         397   79,849,083   87.56% 
      ------------------------------  -----------  --------  ----------  ------  ----------  -----------  ------- 
       Further special resolution 
        to disapply pre-emption 
        rights in circumstances 
        permitted by the Pre-emption 
 12.    Group guidelines.              77,124,054    96.59%   2,725,029   3.41%         397   79,849,083   87.56% 
      ------------------------------  -----------  --------  ----------  ------  ----------  -----------  ------- 
 

For further information:

 
    Midwich Group plc 
     Stephen Fenby, Managing Director 
     Stephen Lamb, Finance Director                    [phone] 
    Investec Bank plc (NOMAD and Joint Broker 
     to Midwich)                                       [phone] 
     Carlton Nelson / Ben Griffiths                     5970 
    Berenberg (Joint Broker to Midwich)                [phone] 
     Ben Wright / Richard Andrews / Arnav Kapoor        7800 
    FTI Consulting 
     Alex Beagley / Tom Hufton / Rafaella de           [phone] 
     Freitas                                            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

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May 09, 2023 10:55 ET (14:55 GMT)