Formal opening of Tema Port in Ghana

RNS Number : 8354D

Westminster Group PLC

28 June 2019

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014

Westminster Group Plc

('Westminster', the 'Group' or the 'Company')

Formal Opening of Tema Port, Ghana

Westminster Group Plc (AIM: WSG), a leading supplier of managed services and technology-based security solutions worldwide, is pleased to note the formal opening of the new Tema Port facility today, Friday 28 June 2019.

In the Company's AGM Statement on 18 June, it was announced that Westminster had entered into a Technical Partnership Agreement with a Ghanaian company, Scanport Ltd. with the aim and purpose of entering into substantive negotiations with Meridian Port Services Limited ('MPS') regarding a contract to manage, operate, maintain and upgrade, as necessary, the container screening services at this new port.  It was also noted that a Letter of Intent was received setting out the preliminary terms regarding the appointment and scope of work and that negotiations were underway towards concluding a contract within the 30-day exclusivity period. These negotiations are proceeding, and draft contracts have now been exchanged. Westminster's revenues will commence once the final terms have been agreed and the formal contract finalised. Further details will be announced in due course.

The first phase of the $1 billion USD Tema Port expansion project will be formally opened for business today with commercial operations expected to commence on 2 July 2019 when the facility is expected to receive the first vessel to discharge its cargo consignment.

Westminster is pleased to confirm that it has a team on the ground which has already undertaken the initial phase of recruitment and training, and that scanning trials have been undertaken ready for commencement of scanning operations.

For further information on the port please see http://mps-gh.com/tema-port-expansion-project/

For further information please contact:

Westminster Group Plc	Media enquiries via Walbrook PR
Rt. Hon. Sir Tony Baldry - Chairman
Peter Fowler - Chief Executive Officer
Mark Hughes - Chief Financial Officer
S. P. Angel Corporate Finance LLP (NOMAD & Joint Broker)
Stuart Gledhill	020 3470 0470
Caroline Rowe
SVS Securities PLC (Joint Broker)
Elliot Hance	020 3700 0100
Walbrook (Investor Relations)
Tom Cooper	020 7933 8780
Paul Vann	0797 122 1972
	[e-mail]

Notes:

Westminster Group plc is a specialist security and services group operating worldwide via an extensive international network of agents and offices in over 50 countries.

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 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.

 

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