Director/PDMR Shareholding

RNS Number : 7032B
Midwich Group PLC
05 April 2017
 

05 April 2017

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 certain persons discharging managerial responsibilities (the "Selling Shareholders") have today sold an aggregate of 2,526,940 ordinary shares in the Company ("Ordinary Shares"), representing approximately 3.2 per cent of the issued share capital of Midwich at a price of 295 pence per share. Board members of Midwich Group have not sold any Ordinary Shares.

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Name

Lee Baker

2.

Reason for the notification

(a)

Position/status

Divisional 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)

 

 

295p

816,420

 

 

 

(e)

Aggregated information

-               Aggregated volume

-               Price

N/A

(f)

Date of the transaction

05 April 2017

(g)

Place of the transaction

London Stock Exchange

 

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Name

Stuart Mizon

2.

Reason for the notification

(a)

Position/status

Divisional 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)

 

 

295p

614,280

 

 

 

(e)

Aggregated information

-               Aggregated volume

-               Price

N/A

(f)

Date of the transaction

05 April 2017

(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

(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)

 

 

295p

584,280

 

 

 

(e)

Aggregated information

-               Aggregated volume

-               Price

N/A

(f)

Date of the transaction

05 April 2017

(g)

Place of the transaction

London Stock Exchange

 

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Name

Tracey Perkins

2.

Reason for the notification

(a)

Position/status

Operations 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)

 

 

295p

262,860

 

 

 

(e)

Aggregated information

-               Aggregated volume

-               Price

N/A

(f)

Date of the transaction

05 April 2017

(g)

Place of the transaction

London Stock Exchange

 

 

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Name

Stephen Beahan

2.

Reason for the notification

(a)

Position/status

Managing Director - Invision UK

(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)

 

 

295p

172,140

 

 

 

(e)

Aggregated information

-               Aggregated volume

-               Price

N/A

(f)

Date of the transaction

05 April 2017

(g)

Place of the transaction

London Stock Exchange

 

1.

Details of the person discharging managerial responsibilities/person closely associated

(a)

Name

Garnett Stewart

2.

Reason for the notification

(a)

Position/status

General Manager - Square One Distribution

(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)

 

 

295p

76,960

 

 

 

(e)

Aggregated information

-               Aggregated volume

-               Price

N/A

(f)

Date of the transaction

05 April 2017

(g)

Place of the transaction

London Stock Exchange

 

For further information please contact:

Midwich Group Plc

Stephen Fenby, Chief Executive Officer

Anthony Bailey, Chief Financial Officer

 

via FTI Consulting

Investec Bank plc

James Ireland / Carlton Nelson / Rob Baker

 

Tel: +44 (0)20 7597 5970

FTI Consulting

Oliver Winters / Alex Beagley / George Robinson        

 

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, Spain, Germany 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 of approximately 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 500 employees across the UK, Germany, France, Spain, Ireland, Australia and New Zealand, and in the year to 31 December 2016, 33 per cent of the Group's revenues were derived from outside the UK and Ireland. 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
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