Investment update

RNS Number : 2196B

RiverFort Global Opportunities PLC

29 January 2020

 

29 January 2020

RiverFort Global Opportunities plc

("RGO" or the "Company")

Investment update

The Company is pleased to announce that it has participated in the £4.75 million financing package announced by Westminster Group plc ("Westminster") on 23 January 2019.  This finance package comprises a mezzanine loan of up to £3 million of which £1.5 million will be drawn initially, and an equity placing and sharing agreement ("EPSA") which, together, are being used to repay early the company's existing convertible loan notes and provide additional financing if required. This structure aligns the interests of both the investors and the company and, in particular, will enable Westminster to benefit from appreciation of its share price over a period of 12 months as a result of the successful implementation of its strategy.

The Company will invest £250,000 in the mezzanine loan and will have a corresponding interest in the EPSA, both through a participation certificate issued by RiverFort Global Opportunities PCC Limited rather than through a direct interest in the financing arrangements. 

Westminster is an AIM-listed provider of technology-based security systems and managed services to governments, government agencies, non-governmental organisations and blue-chip commercial organisations worldwide.  It has a current market capitalisation of around £15 million. Further details about the company can be found at www.wsg-corporate.com.

Phillip Haydn-Slater, Non-executive Chairman commented:

"This investment shows how we can invest in flexible funding solutions specifically tailored to a company's needs which allow all parties to share in the benefits of a company's successful implementation of its strategy."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For more information please contact:

RiverFort Global Opportunities plc		[phone]
Phillip Haydn-Slater, Non-executive Chairman
Nominated Adviser		[phone]
Beaumont Cornish
Roland Cornish/Felicity Geidt
Joint Broker		[phone]
Shard Capital Partners LLP
Damon Heath/ Erik Woolgar
Joint Broker		[phone]
Peterhouse Capital Limited
Lucy Williams

 

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