Last checked at 14 Jul 2016 07:00
Westminster Group Plc:
Final Conversion of Darwin, Issue of Equity and Total Voting Rights
Westminster Group Plc ('Westminster' or the 'Company'), the AIM listed supplier of managed services and technology based security solutions to governments and government agencies, non-governmental organisations (NGO's) and blue chip commercial organisations worldwide, announces the issue of 1,618,248 ordinary shares of 10p each ("Conversion Shares") pursuant to the conversion of the final £210,000 of loan notes by Darwin Capital Ltd ("Darwin"), and therefore that there are no amounts outstanding on this instrument and that this source of shares has thus been removed from the market.
The conversion price for both of these loan notes is 12.977 pence; calculated as the lessor of i) 39 pence and ii) 90% of the arithmetic average of the five lowest daily volume weighted average share price calculations per ordinary share out of the ten trading days prior to conversion.
Application will be made for the Conversion Shares, which will rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading on AIM. It is expected that admission will become effective and that trading in the Conversion Shares will commence on or around 19 July 2016 ('Admission').
Total Voting Rights
In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the Company hereby announces that following Admission it will have 87,107,903 ordinary shares of 10p each in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 87,107,903.
The above figure of 87,107,903 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
For further information please contact:
Westminster Group plc. | Tel: 01295 756 300 |
Peter Fowler (Chief Executive) |
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Ian Selby (Chief Financial Officer) |
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S. P. Angel Corporate Finance LLP (NOMAD + Broker) | Tel: 020 3470 0470 |
Stuart Gledhill |
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Walbrook PR (Financial PR) | Tel: 020 7933 8780
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Tom Cooper/Paul Vann | 0797 122 1972 |
| tom.cooper@walbrookpr.com |
Notes:
Westminster Group plc is a leader in the supply of system solutions and products to the security, defence, fire protection and safety markets worldwide.
Westminster's principal activity is the design, supply and ongoing support of advanced technology security solutions, encompassing a wide range of surveillance, 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 ferry services, 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. For further information please visit www.wsg-corporate.com