MIDW.L

Midwich Group Plc
Midwich Group PLC - Director/PDMR Shareholding
5th April 2024, 06:00
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 4131J
Midwich Group PLC
05 April 2024
 

5 April 2024

 

Midwich Group plc

("Midwich" or the "Group")

 

Director/PDMR Shareholding

 

Midwich (AIM: MIDW), a global specialist audio visual distributor to the trade market, has received notification that Stephen Lamb has exercised 231,090 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"), and following this exercise of options, has sold 115,545 ordinary shares in the Company principally to fund the associated tax, national insurance and dealing charges. Furthermore, Mr. Lamb has transferred 115,545 ordinary shares in the Company to his wife, Victoria Sullivan.

 

This information is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014. 

 

1

Details of the person discharging managerial responsibilities

 

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, emission allowance market participant, auction platform, auctioneer or auction monitor

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

Exercise of options and sale of shares

d)

Price(s) and volume(s)

 

Price

Volume

Exercise: GBP 0.01

231,090

Sale: GBP 4.13

115,545

 

e)

Aggregated information:  volume, Price

Exercise of options

Sales of shares to satisfy income tax, national insurance and dealing charges

 

Price(s)

Aggregated Volume(s)

Aggregated Total

GBP 0.01

231,090

£2,310.90

GBP 4.13

115,545

£476,729.77

f)

Date of the transaction

 

4 April 2024

g)

Place of the transaction

London Stock Exchange (XLON)

 

1

Details of the person discharging managerial responsibilities

 

a)

Name

 

Victoria Sullivan

2

Reason for the notification

 

a)

Position/status

 

Wife to the Group Finance Director

b)

Initial notification/ Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

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

Transfer of shares from Stephen Lamb

d)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

115,545

 

 

 

e)

Aggregated information:  volume, Price

Aggregated Volume: 115,545

Aggregated Price: n/a

f)

Date of the transaction

 

4 April 2024

g)

Place of the transaction

London Stock Exchange (XLON)

 

For further information:

 

Midwich Group plc
Stephen Fenby, Managing Director
Stephen 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 

+44 (0) 20 3207 7800

FTI Consulting
Alex Beagley / Tom Hufton / Matthew Young

+44 (0) 20 3727 1000

 

About Midwich Group

 

Midwich Group is a specialist AV distributor, with operations in the UK and Ireland, EMEA, Asia Pacific and North America. The Group's long-standing relationships with over 800 vendors, including blue-chip organisations, support a comprehensive product portfolio across major audio visual categories such as displays, projectors, technical AV, broadcast, professional audio, lighting and unified communications. 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 24,000 trade customers, most of which are professional AV integrators and IT resellers serving sectors such as corporate, education, retail, residential and hospitality.

 

Initially a UK only distributor, the Group now has approximately 1,900 employees across the UK and Ireland, EMEA, North America and Asia Pacific. 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

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHSSFESLELSEDL]]>
TwitterFacebookLinkedIn