Ferry Contract Update

RNS Number : 4469G

Westminster Group PLC

04 March 2015

 



4 March 2015

Westminster Group Plc:

Ferry services contract update

Westminster Group Plc ('Westminster' or the 'Group'), 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 that it has agreed the acquisition of a vessel in accordance with the Ferry Services contract announced on 19 November 2014.

Over the past few weeks Westminster has been conducting sea trials and surveys of the vessel prior to committing to its acquisition.  Given recent operational surveys in-country, it has been decided to acquire a larger and more expensive vessel than initially planned, due to anticipated passenger volumes in excess of the initial contract scope.  The abatement of the Ebola crisis and expressions of interest from local businesses, leisure facilities and hotels indicate that previous passenger estimates were overly conservative.

The vessel is now being made ready for shipment to West Africa. The 200 passenger, 38.9 metre, vessel has to be carried to West Africa on board a specialist bulk carrier which has the added complexity of restrictions and issues that have been affecting shipping to Ebola affected areas, however good progress is being made and the vessel is expected to arrive during April.  A grand launch event is being planned for that month for both local dignitaries, local businesses and those from neighbouring countries who are interested in Westminster's services.

Westminster's experienced Lead Captain and Chief Engineer (both ex Royal Navy) have already been involved with the vessel's trials and inspections, and are now building the in-country team consisting of further captains, crew, deckhands, engineers, bus drivers, hospitality and sales staff.  

Westminster's in-country staff are also busy developing the terminals and infrastructure required ready for the launch and commencement of operations. We look forward to providing further updates in due course.

Commenting on progress Peter Fowler, Chief Executive of Westminster Group, said:

"A successful search for suitable vessels has enabled us to secure a ferry larger than initially planned.  This extends the scope of the contract and allows for greater use to be made of the existing infrastructure earlier than anticipated.  This is an excellent flag ship vessel for our first managed services ferry project and one which I am confident will prove very convincing for other interested parties who are currently involved in discussions for similar projects.

"Tremendous progress is being made in-country which has resulted in significant profile for the ferry service and an air of anticipation for its commencement.

"The Ebola situation has markedly improved which, should this trend continue, will in due course lead to airlines reinstating their services to the region.  With the future resumption of traditional passenger numbers passing through the airport and the volumes of local traffic, we anticipate that there will be significant demand for the service."

For further information please contact:

Westminster Group plc.	Tel: [phone]
Peter Fowler (Chief Executive)
Ian Selby (Chief Financial Officer)
S. P. Angel Corporate Finance LLP (NOMAD + Broker)	Tel: [phone]
Stuart Gledhill/Katy Birkin
Winningtons Financial (Financial PR)	Tel: [phone]
Tom Cooper/Paul Vann	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, 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 manned services, 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.  For further information please visit www.wsg-corporate.com  

 

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