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Midwich Group (AIM: MIDW), a global specialist audio visual ( AV ) distributor to the trade market, today announces that its Annual Report and Accounts and Notice of Annual General Meeting ( AGM ) have been posted to shareholders and are available on the Group s website http://midwichgroupplc.com.
The AGM will take place at 10.00am on 10 May 2021 at Midwich s head office, Vinces Road, Diss, Norfolk, IP22 4YT. The Board encourages shareholders to submit their proxies as early as possible. Due to the ongoing Covid-19 situation, the Board considers the health of the Group s shareholders and its employees to be of paramount importance and asks shareholders not to attend the meeting in person. The Group will be providing a conference call link to enable shareholders to follow the meeting and ask questions remotely. Any shareholders who wish to listen to the meeting by such means should contact the Company Secretary at [email protected]
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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
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Midwich is a specialist AV distributor to the trade market, with operations in the UK and Ireland, Continental Europe and Asia-Pacific and North America. The Group s long-standing relationships with over 500 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 20,000 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
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