Westminster Group PLC Board Changes and Cost Optimisation Progress (5074D)
22 June 2023 - 4:00PM
UK Regulatory
TIDMWSG
RNS Number : 5074D
Westminster Group PLC
22 June 2023
22 June 2023
Westminster Group Plc
("Westminster", the "Group" or the "Company")
Board Changes and Cost Optimisation Progress
Westminster Group Plc (AIM: WSG), a leading supplier of managed
services and technology-based security solutions, announces the
following board changes.
After several years' valuable service, Mr Mawuli Ababio will be
stepping down from his role as Non-Executive Director at the
conclusion of the Company's AGM on Wednesday 28 June 2023, in order
spend more time on his other commitments. His will, however, remain
available to advise the Company as part of Westminster's
International Advisory Board, which he served on prior to joining
the Board.
Also, at the conclusion of the AGM, the Company's Chairman, the
Rt Hon. Sir Tony Baldry, will move from the position of Executive
Chairman to Non-Executive Chairman.
The above changes will provide a balanced Board with three
Executives and three Non-Executives and is in line with best
corporate governance practices.
As noted in the Company's 2022 Annual Results, we achieved a
greatly improved position and the Company is pleased to report it
is now implementing cost optimisation measures to better streamline
the business, with a view to improve profitability whilst
maintaining maximum future growth potential.
Commenting on the changes, Westminster's Chairman, Rt Hon Sir
Tony Baldry, said:
"I would like to express my and the Board's appreciation for
Mawuli's dedication and hard work over the past few years. He has
made a positive contribution to the Group and is a valued board
member. I am delighted therefore that he will remain with us as
part of our Advisory Board.
"Equally I am happy to assume the role of Non-Executive Chairman
as part of our cost optimisation programme, and in line with best
corporate governance practices, and look forward to continuing to
assist Westminster in delivering on its exciting growth
potential."
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
Strand Hanson Limited (Financial &
Nominated Adviser)
James Harris 020 7409 3494
Ritchie Balmer
Richard Johnson
Zeus Capital Limited (Broker)
Louisa Waddell
Simon Johnson 020 3829 5000
Walbrook (Investor Relations)
Tom Cooper 020 7933 8780
Paul Vann
Nick Rome Westminster@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.
The Westminster Group Foundation is part of the Group's
Corporate Social Responsibility activities.
www.wg-foundation.org
The Foundation's goal is to support the communities in which the
Group operates by working with local partners and other established
charities to provide goods or services for the relief of poverty
and the advancement of education and healthcare particularly in the
developing world.
The Westminster Group Foundation is a Charitable Incorporated
Organisation, CIO, registered with the Charities Commission number
1158653.
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END
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