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23 Sep 2008 07:00
For Immediate Release 23rd September 2008
Westminster Group Plc
Appoints J. Mawuli Ababio as Strategic Advisor for Africa and Malcolm Buck as a Middle East Business Development Manager
Westminster Group Plc ('Westminster' or 'the Group'), the AIM listed supplier of system solutions and products to the security, defence, fire protection and safety markets worldwide, is pleased to announce that it has appointed Mr. Mawuli Ababio as strategic advisor to the Board on business development within Africa and Malcolm Buck as a Business Development Manager based out of Westminster's Dubai office.
Mawuli Ababio has over 20 years experience in transactional analysis and legal documentation for equity and project financing in Africa and has also been involved in developing initiatives for improving financial intermediation and Africa's capital markets.
Mr Ababio has held posts with Societe Internationale pour les Investissements et Developpement en Afrique (SIFIDA), Switzerland, and the African Development Bank. He also has private equity experience as the General Manager of VFMC Ltd (now Aureos Ghana Advisors Ltd), the management company for the Ghana Venture Capital Fund Ltd (GVCF), and the Enterprise Fund, a €3.5 million European Union fund for small businesses.
GVCF was sponsored by the Commonwealth Development Corporation Group and was Ghana's first ever SME equity fund. Under his management, GVCF was fully invested and realised at least three exits via listings, trade sales and an IPO.
In 1999 he co-founded Faith Brothers Ltd, Ghana, as an investment and corporate advisory partnership and as Chief Executive, successfully led the acquisition of a leading micro-finance company in Ghana. This company was subsequently acquired in 2005 by Intercontinental Bank plc of Nigeria and converted into Intercontinental Bank Ghana Limited.
Mr Ababio is currently based in Johannesburg, South Africa and holds a BA (Hons) from Keele University, UK, an MA from the University of Reading, UK. He is a Director of several companies in Ghana and Nigeria. He is fluent in French.
Commenting on his appointment, Peter Fowler, Chief Executive of the Westminster Group said:
"Mr Ababio has, in the past, assisted Westminster with one or two projects in Africa, in particular Ecobank for which we have already been awarded several contracts, and I am delighted that he is now joining us formally as advisor to the Board. He will advise on business strategy within Africa, with a particular focus on Francophone countries, advise on project financing and assist with selection and monitoring of agents in the region. His expertise and experience in African business matters and project financing will be of immense benefit in helping us realise the significant potential for our products and systems in the region."
Malcolm Buck joins Westminster as a Business Development Manager
Malcolm Buck, who will be based at Westminster's Middle East regional headquarters in Dubai, is an ex Warrant Officer Class 1, the Corps of Royal Electrical and Mechanical Engineers (REME). He spent 24 years serving in the British Army, completing his service with the Defence Procurement Agency in 2005.
Since leaving the Army, Malcolm has gained experience in providing physical and electronic security solutions, culminating in a post as Principal Consultant for a leading international consultancy company. He has worked on a variety of sensitive and complex projects, gaining a wealth of experience in emerging and leading edge technologies.
Malcolm has joined Westminster International to take up the challenge of building the companies profile and business opportunities in the Middle East and Asia.
Mr Buck said: "Westminster International has an enviable reputation in this region and an excellent track record of delivering cutting edge solutions. Their vision, drive and commitment to this important market is inspirational and a key to their success. I am delighted to have the opportunity to be part of the development of this region which has got such potential."
Commenting on his appointment, Peter Fowler, Chief Executive of the Westminster Group added:
"I am delighted that Malcolm is joining us to continue the Group's development in the UAE. His expertise and experience in international security and defence matters will be a valuable addition to our Middle East team.
"The Middle East and Asia are important markets for our extensive range of equipment, systems and solutions and we are currently experiencing significant growth in the region. Malcolm will play an important part in helping us maintain that growth rate".
Note: Westminster Group Plc will be announcing its Interim results on Friday 26th September.
Enquiries:
Peter Fowler 01295 756 300
Chief Executive - Westminster Group Plc
Nicholas Mearing-Smith 01295 756 300
Finance Director - Westminster Group Plc
Clive Carver/Charlie Cunningham 020 7600 1658
FinnCap
Tom Cooper/Paul Vann 020 3043 4162
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