REG - Westminster Group - Board Changes and Cost Optimisation Progress

WestminsterAnnouncement

22/06/2023 07:00

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RNS Number : 5074D  Westminster Group PLC  22 June 2023

 

22 June 2023

 

Westminster Group Plc

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

 

Board Changes and Cost Optimisation Progress

 

Westminster Group Plc (AIM: WSG), a leading supplier of managed services and
technology-based security solutions, announces the following board changes.

 

After several years' valuable service, Mr Mawuli Ababio will be stepping down
from his role as Non-Executive Director at the conclusion of the Company's AGM
on Wednesday 28 June 2023, in order spend more time on his other commitments.
His will, however, remain available to advise the Company as part of
Westminster's International Advisory Board, which he served on prior to
joining the Board.

 

Also, at the conclusion of the AGM, the Company's Chairman, the Rt Hon. Sir
Tony Baldry, will move from the position of Executive Chairman to
Non-Executive Chairman.

 

The above changes will provide a balanced Board with three Executives and
three Non-Executives and is in line with best corporate governance practices.

 

As noted in the Company's 2022 Annual Results, we achieved a greatly improved
position and the Company is pleased to report it is now implementing cost
optimisation measures to better streamline the business, with a view to
improve profitability whilst maintaining maximum future growth potential.

 

Commenting on the changes, Westminster's Chairman, Rt Hon Sir Tony Baldry,
said:

 

"I would like to express my and the Board's appreciation for Mawuli's
dedication and hard work over the past few years. He has made a positive
contribution to the Group and is a valued board member. I am delighted
therefore that he will remain with us as part of our Advisory Board.

 

"Equally I am happy to assume the role of Non-Executive Chairman as part of
our cost optimisation programme, and in line with best corporate governance
practices, and look forward to continuing to assist Westminster in delivering
on its exciting growth potential."

 

 

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)                              020 3829 5000

 Louisa Waddell

 Simon Johnson

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