Westminster Group PLC Issue of Equity (7696R)
26 September 2017 - 4:01PM
UK Regulatory
TIDMWSG
RNS Number : 7696R
Westminster Group PLC
26 September 2017
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014
Westminster Group Plc
Issue of Equity to raise GBP750,000
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, is pleased to announce a placing ('Placing') of
7,500,000 new ordinary shares of 10p each ('Ordinary Shares') at
10p per Ordinary Share to raise GBP750,000 before expenses.
Placing
To support the development of the Company, with a particular
focus on preparation for the anticipated Middle East project
opportunity in its Managed Services division, the Company has
raised GBP750,000 before expenses by means of an oversubscribed
Placing undertaken by Beaufort Securities Limited ("Beaufort"). The
Placing will result in the issue of 7,500,000 new Ordinary shares
('Placing Shares') at a price of 10p per share.
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 Beaufort not being terminated in accordance with its terms
prior to Admission.
The placing agreement with Beaufort provides for Beaufort to be
issued, conditional upon Admission, with 375,000 warrants to
subscribe for Ordinary Shares at an exercise price of 10p per share
exercisable at any time within 5 years after the date of Admission.
This is in addition to the payment of a placing commission and
expenses in accordance with the placing agreement.
Total Voting Rights
In accordance with the Financial Conduct Authority's Disclosure
and Transparency Rules ('DTRs'), the Company hereby announces that
following Admission of the Placing Shares, it will have 120,743,420
Ordinary Shares in issue, none of which are held in treasury.
Therefore, the total number of voting rights in the Company is
120,743,420.
The above figure of 120,743,420 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.
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 of the
Placing Shares will become effective and trading in the Placing
Shares being expected on 10 October 2017 ('Admission').
For further information please contact:
Westminster Group plc. Tel: 01295 756
300
Peter Fowler (Chief Executive)
Martin Boden (Chief Financial
Officer)
S. P. Angel Corporate Finance Tel: 020 3470
LLP (NOMAD + Joint Broker) 0470
Stuart Gledhill/Lindsay Mair
Beaufort Securities Limited (Joint Tel: 020 7382
Broker) 8300
Elliot Hance
Walbrook PR (Financial PR) Tel: 020 7933
8780
Tom Cooper/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 company news service from the London Stock Exchange
END
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