Westminster Group PLC Issue of Equity (4327P)
February 08 2019 - 2:00AM
UK Regulatory
TIDMWSG
RNS Number : 4327P
Westminster Group PLC
08 February 2019
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 GBP500,000
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
GBP500,000 before expenses.
Placing
To further support the development of the Company, with a
particular focus on preparation for the various projects outlined
in the Business and Trading Update released on 29 January, the
Company has conditionally raised GBP500,000 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 3.7% 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 22 February 2019.
Appointment of Joint Broker
With immediate effect, following successful completion of the
Placing, the Company has agreed to appoint SVS as joint brokers to
the Company.
Extension of Warrants
The Company has agreed with the holder of the 589,330 warrants
issued in February 2016 with a strike price of 20.15p to extend the
expiry date by one year to 22 February 2020.
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 135,027,511 Ordinary Shares in issue, none of which are held
in treasury. Therefore, following Admission the total number of
voting rights in the Company is 135,027,511.
The above figure of 135,027,511 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
Peter Fowler - Chief Executive Officer
Mark Hughes - Chief Financial Officer
S. P. Angel Corporate Finance LLP (NOMAD
& Joint Broker)
Stuart Gledhill 020 3470 0470
Caroline Rowe
SVS Securities PLC (Joint Broker)
Elliot Hance 020 3700 0100
Walbrook (Investor Relations)
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 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, 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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