11 November 2024
THIS ANNOUNCEMENT CONTAINS INSIDE
INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION
NO. 596/2014 ("MAR") WHICH IS PART OF UK LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, SUCH INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN
Westminster Group Plc
('Westminster', the 'Group' or the
'Company')
Strategic
Review
Westminster Group Plc (AIM: WSG), a
leading supplier of managed services and technology-based security
solutions worldwide, notes the media speculation that the Company
is considering cancelling its admission to trading on the AIM
market of the London Stock Exchange, and confirms that this is not
the case.
As mentioned in the Final Results
announcement of 6 November 2024, the Company has been undertaking a
strategic review on how to improve shareholder value. This review
included consultations with advisors and various stakeholders and
is something any responsible board should undertake from time to
time.
As indicated in the recent Final
Results announcement, the Company has significantly increased its
business prospects, including now having annual contracted
recurring revenue in excess of £14m (including DRC estimates). The
Company also advised the market that it hopes to finalise an
additional managed services contract in the near future.
Accordingly, the directors believe
that this significant growth in business together with other
measures to be put in place in the months ahead, as a direct result
of this review, will have a positive impact on shareholder value.
Such measures do not include cancelling its admission to trading on
the AIM market of the London Stock Exchange.
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
|
|
|
|
|
|
Strand Hanson Limited (Financial & Nominated
Adviser)
|
|
|
James Harris
|
020 7409 3494
|
|
Ritchie Balmer
Richard Johnson
Zeus
Capital Limited (Broker)
Louisa Waddell
Simon Johnson
|
020 3829 5000
|
|
|
|
|
Walbrook (Investor Relations)
|
|
|
Tom Cooper
|
020 7933 8780
|
|
Joe Walker
|
|
|
Nick Rome
|
Westminster@walbrookpr.com
|
|
|
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.
The Westminster Group Foundation is
part of the Group's Corporate Social Responsibility
activities. www.wg-foundation.org
The Foundation's goal is to support
the communities in which the Group operates by working with local
partners and other established charities to provide goods or
services for the relief of poverty and the advancement of education
and healthcare particularly in the developing world.
The Westminster Group Foundation is a
Charitable Incorporated Organisation, CIO, registered with the
Charities Commission number 1158653.