Last checked at 17 Dec 2021 07:00
Westminster Group Plc
('Westminster', the 'Group' or the 'Company')
New $1.7m Contract Award
Security Solutions - Two Airports in Southeast Africa
Westminster Group Plc (AIM: WSG), a leading supplier of managed services and technology-based security solutions worldwide, is pleased to announce that its Technology division has been awarded a contract to design, supply and install advanced screening and surveillance equipment to two airports in Southeast Africa.
The contract, valued at circa US$1.7million and funded by the European Investment Bank, has been awarded after a lengthy international competitive tender process and involves the upgrading of security equipment, including new x-ray screening & metal detection equipment, an advanced CCTV surveillance system and new control and command centres at both airports. Westminster will provide a full turnkey solution involving the design, supply and installation of the systems and will be establishing an engineering presence in-country for future maintenance and support services.
Westminster's bid was selected as the most advantageous after a combined technical and financial evaluation. In accordance with the public procurement regulations there is now a Standstill Period expiring at midnight on 26 December 2021 to allow for any unsuccessful bidder to request a debriefing or issue a complaint regarding the process. Installation works are therefore expected to begin in the new year and for the project to be completed and recognised during 2022.
The Company is pleased to report that, despite the global pandemic impacting its business during 2021, it has a healthy cash balance sufficient for its current requirements.
Commenting on the contract award, Westminster CEO, Peter Fowler, said:
"In our trading statement dated 19 November 2021 I mentioned the impact of, inter alia, ongoing COVID-19 related travel restrictions and ongoing general business caution across the Company's targeted jurisdictions, had delayed certain anticipated contract awards and/or associated revenue generation. This is one example. The tender, which was initially announced in November 2020, was expected to be awarded in Q1 2021 and largely completed during the current year. However, principally due to the global challenges created by the pandemic, the award deadline was extended several times during the year.
"I am delighted therefore that we have, at last, been awarded this important new contract for advanced airport security solutions in Southeast Africa and it is yet another example of Westminster's growing global reach across a wide range of disciplines and demonstrates our ability to secure business in new territories. Not only does this contract open a new region for our international operations, but we believe creates an exciting opportunity for our Managed Services division in developing a wider scope of works and long-term support services at the airports.
"With new contracts coming online and the measures we have and are continuing to put in place to mitigate the impact of the pandemic going forward, subject to any significant and prolonged changes in the global situation occurring, we remain confident for 2022 and beyond."
For further information please contact:
Westminster Group Plc | Media enquiries via Walbrook PR |
Rt. Hon. Sir Tony Baldry - Chairman |
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Peter Fowler - Chief Executive Officer |
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Mark Hughes - Chief Financial Officer |
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Strand Hanson Limited (Financial & Nominated Adviser) |
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James Harris | 020 7409 3494 |
Ritchie Balmer
Arden Partners plc (Broker) Richard Johnson (Corporate) Tim Dainton/Simon Johnson (Broking) |
020 7614 5900 |
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Walbrook (Investor Relations) |
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Tom Cooper | 020 7933 8780 |
Paul Vann |
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Nick Rome | Westminster@walbrookpr.com |
Notes:
Westminster Group plc is a specialist security and services group operating worldwide via an extensive international network of agents and offices in over 50 countries.
Westminster's principal activity is the design, supply and ongoing support of advanced technology security solutions, encompassing a wide range of surveillance, detection (including Fever Detection), tracking and interception technologies and the provision of long-term managed services contracts such as the management and running of complete security services and solutions in airports, ports and other such facilities together with the provision of manpower, consultancy and training services. The majority of its customer base, by value, comprises governments and government agencies, non-governmental organisations (NGO's) and blue-chip commercial organisations.
The Westminster Group Foundation is part of the Group's Corporate Social Responsibility activities. www.wg-foundation.org
The Foundation's goal is to support the communities in which the Group operates by working with local partners and other established charities to provide goods or services for the relief of poverty and the advancement of education and healthcare particularly in the developing world.
The Westminster Group Foundation is a Charitable Incorporated Organisation, CIO, registered with the Charities Commission number 1158653.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 ("MAR") WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN