Last checked at 31 Aug 2018 07:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014
Westminster Group Plc
('Westminster', the 'Group' or the 'Company')
Issue of Equity to raise £500,000
Westminster Group Plc (AIM: WSG), a leading supplier of managed services and technology based security solutions, is pleased to announce a placing ('Placing') of 5,000,000 new ordinary shares of 10p each ('Ordinary Shares') at 10p per Ordinary Share to raise £500,000 before expenses.
Placing
To further support the development of the Company, with a particular focus on preparation for the anticipated Iranian project opportunity in its Managed Services division, the Company has conditionally raised £500,000 before expenses by means of a Placing undertaken on behalf of the Company by SVS Securities Plc ("SVS"). The Placing will result in the issue of 5,000,000 new Ordinary shares ('Placing Shares') at a price of 10p per share representing, in aggregate, approximately 3.85% of the issued share capital of the Company as enlarged by the issue of the Placing Shares.
The Placing is conditional upon admission of the Placing Shares to trading on AIM becoming effective in accordance with the AIM Rules ("Admission") and the placing agreement between the Company and SVS becoming unconditional and not being terminated in accordance with its terms prior to Admission.
Application will be made for the Placing 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 dealings in the Placing Shares on AIM will commence at 8:00am on or around 14 September 2018.
Total Voting Rights
In accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ('DTRs'), the Company hereby announces that following Admission of the Placing Shares, it will have 130,027,511 Ordinary Shares in issue, none of which are held in treasury. Therefore, following Admission the total number of voting rights in the Company is 130,027,511. Prior to Admission and as at 31 August 2018, the total number of voting rights in the Company is 125,027,511.
The above figure of 130,027,511 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 DTRs.
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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Martin Boden - Chief Financial Officer |
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S. P. Angel Corporate Finance LLP (NOMAD & Broker) |
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Stuart Gledhill | 020 3470 0470 |
Lindsay Mair |
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Caroline Rowe |
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Walbrook (Investor Relations) |
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Tom Cooper | 020 7933 8780 |
Paul Vann | 0797 122 1972 |
| tom.cooper@walbrookpr.com |
Notes:
Westminster Group plc is a specialist security and services group operating worldwide through an international network of agents and offices in over 50 countries.
Westminster's principal activity is the design, supply and on-going 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 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.