New Airports MoU takes total under MoU to 6m PAX

RNS Number : 3550M

Westminster Group PLC

20 January 2016

 

20 January 2016

Westminster Group Plc:

New Long Term Airports MoU

& WASS Divisional Update

'New airports MoU takes total under MoU to 6m PAX'

Westminster Group Plc ('Westminster', the 'Group' 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, is pleased to announce the latest development in its airport security programme.

New Long Term Airports MoU

The Company can today announce that its wholly owned subsidiary, Westminster Aviation Security Services ('WASS'), has entered into a Memorandum of Understanding (MoU) with a new government client for the provision of long term (up to 25 years) aviation security services at several international airports within the country concerned.

In accordance with the terms of the MoU, WASS will send its team of aviation security specialists to undertake a comprehensive survey of the various airports, producing a full gap analysis and project plan as a prelude to contract discussions.

WASS Divisional Update

WASS has 4 airport security opportunities under Memorandum of Understanding with its clients in addition to the new MoU announced above: 

·    The MoU signed on 9 December 2015 for the significant airport hub has advanced quickly, with our specialist aviation security team organised to deploy w/c 25 January 2016 in order to carry out gap analysis work ahead of contract negotiations.

·     The MoU signed on 12 October 2015 has progressed significantly.  We have now completed the gap analysis and are moving to contract negotiation stages.

·    The MoU signed on 9 February 2015 for Airports in Asia is making progress through the parliamentary process to enable foreign companies to enter into government Private Public Partnership and Build Operate Transfer contracts without going to tender and has passed 1^st reading. 

·    Local issues and bureaucracy continue to delay the East African MoU.  Discussions remain positive though it should be noted that this is now one of the smaller of the opportunities being progressed given the recent MoU's secured by the Group.

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

"I am particularly delighted to announce this latest development in our roll out of long term airport security services around the world as not only does this latest MoU relate to several international airports in a country with strong GDP growth, but is the 4^th MoU signed in the past 12 months.  Notably, three MoU's for long term airport security projects have been signed in the last four months, a number of which have been key targets, which indicates the momentum we are building in our strategically important markets.

"Our Managed Services division now has five separate MoU's in place covering numerous airports in different regions of the world serving an aggregate of approximately 6 million embarking passengers annually.  The geographic spread of these opportunities away from our existing operations will greatly mitigate regional risk in the future.

"Whilst there is of course no certainty as to timing or the final outcome of these, or any of the project opportunities in progress, we believe the number of long term, large scale, MoU's now in negotiation is very encouraging.  The momentum we are seeing together with the current security situation worldwide gives the Board confidence that there is a need for the Company's solution and that this bodes well for the future prospects of the Group.  The Board will continue to update the market on progress as appropriate."

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 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 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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