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  2. Share Prices
  3. Westminster Group Share Price
  4. Westminster Group Share News
  5. IN BRIEF: Westminster To Raise GBP5 Million For Debt Redemption

Pin to quick picksWestminster Group Share News (WSG)

Westminster Group Information

Share Price Information for Westminster Group (WSG)

London Stock Exchange
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Share Price: 2.70
Bid: 2.60
Ask: 2.80
Change: 0.00 (0.00%)
Spread: 0.20 (7.692%)
Open: 2.70
High: 2.70
Low: 2.70
Prev. Close: 2.70
WSG Live PriceLast checked at -

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IN BRIEF: Westminster To Raise GBP5 Million For Debt Redemption

Thu, 03rd Dec 2020 14:01

Westminster Group PLC - Banbury, Oxfordshire-based security services provider - Raises GBP5.0 million through placing of 125.0 million shares at a price of 4.0 pence each.

Issue price reflects 37% discount to Wednesday's closing price of 6.3p.

Proceeds from the issue will go toward fully redeeming outstanding convertible loan notes and loan stock, as well as repaying the outstanding balance on Westminster's mezzanine loan facility. Proceeds will be used for working capital projects to support the deployment of existing contracts and prospects.

Placing completion is conditional on shareholder approval at general meeting on December 21. Arden Partners is acting as sole broker. Once completed, Westminster will have 286.5 million shares issued overall.

Current stock price: 4.35 pence

Year-to-date change: down 63%

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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