REG - Westminster Group - £500k Credit Facility & CLN Variation

WestminsterAnnouncement

11/07/2025 07:00

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RNS Number : 6382Q  Westminster Group PLC  11 July 2025

 

 

11 July 2025

 

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, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE
PUBLIC DOMAIN

 

 

Westminster Group Plc

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

 

£500,000 Credit Facility & Convertible Loan Note Variation

 

Westminster Group Plc (AIM: WSG), a leading supplier of managed services and
technology-based security solutions worldwide, is pleased to announce that it
has secured a £500,000 credit facility from Pantheon A Family Office Limited
("Pantheon"), Westminster's strategic investor.

 

The credit facility will provide the Company with a flexible financing option
for short term financing, if required, to support the Company's expansion and
the delivery of new and recently secured projects. Any funds drawn down will
have a repayment term of 6 months and will not be interest bearing. The credit
facility is unsecured and will have a term of 1 year.

 

Convertible Loan Note variation

 

As consideration for making the credit facility available, together with
agreement that Pantheon will waive any future interest on funds drawn down
under the Convertible Loan Notes (CLN) instrument, as announced on 1 July
2024, Westminster has agreed to revise the CLN conversion price from 3p to 2p
per share on the funds currently drawn under the CLN. A minimum annual
interest saving of £100,000 is therefore achieved under this arrangement.

 

Pantheon has undertaken not to convert any of the CLNs for a period of 12
months, and in line with all regulatory requirements as appropriate at the
time. All other terms of the CLN remain unchanged.

 

Related Party Transaction

 

Pantheon has a current shareholding in the Company of 27.8% and is therefore
categorised as a Substantial Shareholder of the Company pursuant to the AIM
Rules for Companies ("AIM Rules"). Jing Zhou represents Pantheon on the board
of Westminster. Accordingly, the above transactions with Pantheon are
classified as a related party transaction pursuant to the AIM Rules.

 

The independent Directors of the Company, having consulted with Strand Hanson
Limited, the Company's Nominated Adviser, consider that the above transactions
are fair and reasonable insofar as the Company's shareholders are concerned.

 

Commenting on the new credit facility, Westminster's Chief Executive
Officer, Peter Fowler, said:

 

"Pantheon is an extremely supportive investor in the business and this latest
funding facility demonstrates their continued support and strong belief in the
Company and its future growth and success. To have a facility like this,
effectively an interest free overdraft, available, if required, for short term
use will be a great asset."

 

 

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 and Broker)
 James Harris                                                            020 7409 3494

 Ritchie Balmer

 Rob Patrick

 Walbrook (Investor Relations)
 Tom Cooper                                                              020 7933 8780
 Nick Rome                                                               Westminster@walbrookpr.com (mailto:Westminster@walbrookpr.com)

 

 

 Notes:

 

The Westminster Group Plc is a global integrated security services group,
delivering niche security solutions and long-term managed services to high
growth and emerging markets around the world, with a particular focus on
long-term recurring revenue business.

 

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 (NGOs) and
blue-chip commercial organisations.

 

The Westminster Group Foundation is part of the Group's Corporate Social
Responsibility activities. www.wg-foundation.org
(http://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.

 

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