Last checked at 
Westminster Group PLC - Banbury, Oxfordshire-based security systems provider - Announces the full repayment of a mezzanine loan facility from Gibraltar-based investor Riverfort Global Opportunities PLC and New Jersey, US-based investor YA II PN PLC. Says all remaining convertible secured loan notes and convertible unsecured loan stock has been redeemed as of December 31, 2020. Notes the repayment of GBP2.6 million will result in an annual saving of approximately GBP300,000 in interest and fees, a "major" objective of the GBP5 million share placing completed last month.
"Following the debt repayment, we now enter 2021 debt free except for small operating leases, with a greatly strengthened balance sheet and in a much stronger position to deal with the current global uncertainties. We also have the funding in place for delivery of existing and potential near-term new contracts," says Chief Financial Officer Mark Hughes.
Current stock price: 4.35 pence
Year-to-date change: up 4.8%
By Zoe Wickens; zoewickens@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
