RNS Number : 3155X
Midwich Group PLC
29 April 2019
29 April 2019
Midwich Group plc
("Midwich", the "Company" or the "Group")
Acquisition of the remaining interest in Holdan Limited ("Holdan")
and Issue of Equity
Midwich, a specialist audio-visual distributor to the trade market, announces that it has acquired the remaining 10.5 per cent. of the issued share capital of Holdan, a value-added distributor of technology solu ons focused on the broadcast, professional video and tradi onal audio-visual markets. The considera on for this has been sa sfied by the issue of 300,212 new ordinary shares of 1p each in the Company.
Applica on has been made to the London Stock Exchange for the 300,212 new ordinary shares to be admi ed to trading on AI M . Admission is expected to take place on 1 May 2019. The new ordinary shares will rank pari passu with the exis ng issued ordinary shares.
Following the issue of the new ordinary shares, the Company's issued share capital will consist of 79,748,412 ordinary shares of 1p each. This figure may be used by shareholders in the Company as the denominator for the calcula ons by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.
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For further information: | |
Midwich Group plc | Tel: +44 (0)1379 649200 |
Stephen Fenby, Managing Director | |
Stephen Lamb, Finance Director | |
Investec Bank plc (NOMAD and Joint Broker to Midwich) | Tel: +44 (0) 20 7597 5970 |
James Rudd | |
Carlton Nelson | |
Berenberg (Joint Broker to Midwich) | Tel: +44 (0)20 3207 7800 |
Ben Wright | |
Mark Whitmore | |
Laure Fine | |
FTI Consulting | Tel: +44 (0)20 3727 1000 |
Alex Beagley | |
Tom Hufton | |
Fern Duncan |
About Midwich Group
Midwich is a specialist AV distributor to the trade market, with opera ons in the UK and I reland, Con nental Europe and Asia Pacific. The Group's long-standing rela onships with over 400 vendors, including blue-chip organisa ons, support a comprehensive product por olio 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 a ribute this posi on to the Group's technical exper se, 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 I T resellers serving sectors such as corporate, educa on, retail, residen al 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.
I ni ally a UK only distributor, the Group now has 900 employees across the UK and I reland, Con nental Europe and Asia Pacific. A
core component of the Group's growth strategy is further expansion of its interna onal opera ons and footprint into strategically
targeted jurisdictions.
For further information, please visit: www.midwichplc.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.comor visit www.rns.com.
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Midwich Group plc published this content on 29 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 April 2019 08:12:10 UTC