⌘K
t
Midwich Group plc granted 165,714 nominal cost options over ordinary shares of £0.01 each to Stephen Lamb, its Group Finance Director, under the Midwich Group plc 2016 Long Term Incentive Plan. This transaction occurred on 29 November 2024. The LTIP Award is subject to performance conditions and will ordinarily vest in 2027.
| Date | 2 Dec 2024 |
| Time | 07:00:07 |
| Category | Director/PDMR dealings |
| ID | 2502O |
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 |
+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) |
+44 (0) 20 3207 7800 |
|
FTI Consulting |
+44 (0) 20 3727 1000 |
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