Issue of Equity & TVR

RNS Number : 0484S

Westminster Group PLC

15 March 2016

 

15 March 2016

Westminster Group Plc:

Issue of Equity and Total Voting Rights

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, announces the issue of 1,590,836 ordinary shares of 10p each ("Conversion Shares") pursuant to the conversion of £200,000 of loan notes by Darwin Capital Ltd ("Darwin"). These comprise 2 conversions;

1.   To convert £150,000 zero coupon senior unsecured convertible loan notes, as detailed in the announcement dated 22 April 2015 (the "April '15 Notes"), into equity. The balance outstanding on this loan this loan is now £450,000.  

2.   To convert £50,000 zero coupon senior unsecured convertible loan notes, as detailed in the announcement dated 22 February 2016 (the "February '16 Notes"), into equity. The balance outstanding on this loan is now £425,000.

The conversion price for both of these loan notes is 12.57201 pence; calculated as the lessor of i) 39 pence with respect to the April '15 Notes and; 20.15 pence with respect to the February '16 Notes and ii) 90% of the arithmetic average of the five lowest daily volume weighted average share price calculations per ordinary share out of the ten trading days prior to conversion (applicable to both the April '15 and February '16 Notes).

Application will be made for the Conversion 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 trading in the Conversion Shares will commence on or around 18 March 2016 ('Admission').

Total Voting Rights

In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the Company hereby announces that following Admission it will have 66,012,352 ordinary shares of 10p each in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 66,012,352.

The above figure of 66,012,352 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 FCA's Disclosure and Transparency Rules.

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
Walbrook PR (Financial PR)	Tel: [phone]
Tom Cooper/Paul Vann	0797 122 1972
	[e-mail]

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 ferry services, 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.  For further information please visit www.wsg-corporate.com  

 

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