Issue of Equity

RNS Number : 7357C

Westminster Group PLC

19 April 2013

 



19 April 2013

Westminster Group Plc:

Issue of Shares

The Board of Westminster Group plc ("Westminster" or the "Company") announces that on 17 April 2013, it received notice of conversion from one of the holders ("Noteholder") of the Company's 8% convertible unsecured loan stock ("CULS") issued in July 2012. The Noteholder confirms to the Board that the conversion is due to custodial changes and their ability to hold loan stock and that the Noteholder remains committed to their investment in the Company.

The £100,000 of CULS will be converted at 27.5 pence per ordinary share into 363,636 ordinary shares of 10p each in the Company ("New Shares") under the terms of the CULS and the Company's annual interest charge will be reduced by £8,000.

The New Shares will be issued under existing authorities to issue and allot shares in the Company. Application will be made to London Stock Exchange plc in relation to admission of these New Shares to trading on AIM and it is expected that dealings in the New Shares will commence on or around 25 April 2013 (the "Admission").

Total Voting Rights 

The New Shares will rank pari passu with the existing shares of the Company. Following this issue, the total issued share capital of the Company consists of 37,889,237 ordinary shares of 10p each ("Ordinary Shares") with voting rights. The rights attaching to the New Shares, including as to voting, are the same as those of the existing Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 37,889,237 and this figure 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 see the Company's web site, www.wg-plc.com, or 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.wg-plc.com or www.wi-ltd.com

 

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