Reduction of Synergy Loan Note

RNS Number : 9443H

Westminster Group PLC

27 June 2013

 



27^th June 2013

Westminster Group Plc:

£300k Reduction in Synergy Loan Note

Westminster Group Plc ('Westminster' or 'the Company'), the AIM listed supplier of system solutions and products to the security, defence, fire protection and safety markets worldwide, is pleased to announce that the Company has advised the liquidators of Synergy Capital Ltd ("Synergy") that it is now making a £300k repayment of the 2009 convertible loan note agreement ("CLN").

This latest £300k repayment together with the £300k reduction announced on the 19^th June 2013 means that the CLN has now been reduced by 60%, without dilution and the remaining £400k of the CLN can be redeemed at any point prior to 29 June 2014 without a redemption premium.

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.wi-ltd.com 

 

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