Ferry Project Update

RNS Number : 6840W

Westminster Group PLC

21 August 2015

 

21 August 2015

Westminster Group Plc:

Ferry Project Update

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, provides an update on its new Ferry Project and airport transfer service in West Africa.

On 29 July 2015, the Company announced that it had identified that one of the prop shafts on its flagship vessel is out of line and may need repair. Following close examination it was decided that the shaft would need to be removed for repair. This is a specialist job requiring specialist equipment which has proved a challenge in country and accordingly the Company engaged specialists from the UK to assist with the works. The shaft has now been removed and is being returned to the UK for correction, which is expected to take around 15 days.

Accordingly operations are now expected to commence in September 2015.

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

"Whilst we are disappointed that this issue means our expected commencement of operations has slipped into September, as previously stated, safety and reliability are our primary concerns and it is preferable to identify and correct any such problems prior to commencement rather than disrupt services later.

"In parallel, we continue to work with the government on the development and upgrading of various terminals and jetties not just for the airport transfer service but also to accommodate a fast water taxi service around the capital and further afield."

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
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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