Investegate |Midwich Group PLC Announcements | Midwich Group PLC: LTIP Options Grant investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.
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;
9 March 2021 | 09:11am
StockMarketWire.com - Audio visual distributor Midwich swung to a full-year loss after margins were squeezed during the pandemic, though it said it performed better than it had expected in the second half.
Pre-tax losses for the year through December amounted to £1.0 million, compared to a year-on-year profit of £23.8 million.
Revenue rose 3.7% to £711.8 million but gross margin slipped to 14.3%, down from 16.5%.
Midwich did not declare any dividends. We announced our entry into the US, the world s largest AV market, in February 2020 and post period end, entered the Middle East, giving us true global scale, chief executive Stephen Fenby said.
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;
Midwich, a specialist audio visual ( AV ) distributor to the trade market with operations across the UK and Ireland, Continental Europe, North America and Asia-Pacific, is pleased to announce it has entered into a binding agreement to acquire a controlling stake in Nicolas M. Kyvernitis Electronics Ent., NMK Middle East FZE and Edge Electronics Trading LLC ( Edge ) (collectively the NMK Group or NMK ). Based in the UAE and Qatar, the NMK Group is a value-added distributor of AV products and represents Midwich s entry into the Middle Eastern market.
As part of the agreement, Midwich will acquire 80% of the voting rights of each of the NMK Group companies. The purchase price comprises an initial cash consideration of AED 49.8 million (approximately £10.0 million) followed by an additional AED 21.0 million in cash (approximately £4.2 million) six months later. Completion, which is subject to local regulatory approval(s) as required by foreign investment laws in t