Last checked at 15 Apr 2010 13:52
15th April 2010
Westminster Group Plc:
Placing of 747,000 New Ordinary Shares at a Placing Price of 33.5 pence to raise £250,245 before expenses
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, announces that it has successfully placed 747,000 New Ordinary Shares at a placing price of 33.5p to raise £250,245 before expenses.
The proceeds of the placing will be used to supplement the working capital requirements of Westminster Group.
Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM. It is expected that such Admission will become effective and that dealings will commence at 8.00 a.m. on 21st April 2010.
The New Ordinary Shares will, when issued, rank pari passu in all respects with the existing Ordinary Shares.
Commenting on the placing Peter Fowler, Chief Executive of Westminster Group, said:
"Through this placing we welcome three new institutional shareholders to the shareholder register of Westminster Group. The growth and the prospects of our business have attracted attention, both within our industry and the financial markets. It is pleasing therefore to see institutions actively investing in Westminster."
Enquiries:
Peter Fowler 01295 756 300
Chief Executive - Westminster Group Plc
Nicholas Mearing-Smith 01295 756 300
Finance Director - Westminster Group Plc
Nandita Sahgal 020 7107 8000
Catherine Leftley
Seymour Pierce
Tom Cooper/Paul Vann 0117 985 8989
Winningtons Financial 0797 122 1972
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, risk assessments and close protection services. These can range from product only assignments, such as the supply of specialised scanners, to the design and implementation of an integrated system solution such as a border detection and surveillance system. The majority of its customer base, by value, comprises governments and government agencies, non governmental organisations and blue chip commercial organisations.