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Midwich Group PLC (MIDW)

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Monday 13 May, 2019

Midwich Group PLC

Result of AGM

RNS Number : 8464Y
Midwich Group PLC
13 May 2019
 

13 May 2019

Midwich Group PLC

 

("Midwich" or the "Group")

 

Result of AGM

 

Midwich Group (AIM: MIDW), a specialist audio visual distributor to the trade market with operations across the UK and Ireland, Continental Europe and Asia Pacific, 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 votes cast

Number of

votes

%

Number of votes

%

Number of votes


1.

Ordinary resolution to receive and adopt the Company's annual accounts for the financial year ended 31 December 2018.

57,249,114

100

0

0

0

57,249,114

2.

Ordinary resolution to re-elect Stephen Fenby as a director of the Company.

57,249,114

100

0

0

0

57,249,114

3.

Ordinary resolution to re-elect Andrew Herbert as a director of the Company.

56,942,200

99.46

306,914

0.54

0

57,249,114

4.

Ordinary resolution to re-elect Mike Ashley as a director of the Company.

57,249,114

100

0

0

0

57,249,114

5.

Ordinary resolution to re-elect Stephen Lamb as a director of the Company.

57,249,114

100

0

0

0

57,249,114

6.

Ordinary resolution to re-elect Hilary Wright as a director of the Company.

57,249,114

100

0

0

0

57,249,114

7.

Ordinary resolution to re-appoint Grant Thornton UK LLP as the Company's auditors.

56,575,943

100

0

0

673,171

57,249,114

8.

Ordinary resolution to declare a final dividend for the financial year ended 31 December 2018 of 10.60p per ordinary share.

57,249,114

100

0

0

0

57,249,114

9.

Ordinary resolution to approve the Directors' Remuneration Report (excluding the directors' remuneration policy).

55,946,181

97.72

1,302,933

2.28

0

57,249,114

10.

Ordinary resolution to authorise the directors to allot shares.

57,105,264

99.75

143,850

0.25

0

57,249,114

11.

Special resolution to disapply pre-emption rights.

57,249,114

100

0

0

0

57,249,114

12.

Further special resolution to disapply pre-emption rights in circumstances permitted by the Pre-emption Group guidelines.

57,249,114

100

0

0

0

57,249,114

 

 

For further information:

 

Midwich Group plc

Stephen Fenby, Managing Director

Stephen Lamb, Finance Director

 

Tel: +44 (0) 13 7964 9200

Investec Bank plc (NOMAD and Joint Broker to Midwich)

James Rudd

Carlton Nelson

 

Tel: +44 (0) 20 7597 5970

Berenberg (Joint Broker to Midwich)

Ben Wright

Mark Whitmore

Laure Fine

 

Tel: +44 (0) 20 3207 7800

FTI Consulting

Alex Beagley

Tom Hufton

Fern Duncan

Tel: +44 (0) 20 3727 1000

 

 

About Midwich Group

Midwich is a specialist AV distributor to the trade market, with operations in the UK and Ireland, Continental Europe and Asia Pacific. The Group's long-standing relationships with over 400 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 17,000 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 900 employees across the UK and Ireland, Continental Europe 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


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