REG - Westminster Group - Directorate Change

WestminsterAnnouncement

21/11/2019 11:25

RNS Number : 2346U
Westminster Group PLC
21 November 2019
 


21 November 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')
Non-Executive Director Appointment
 
 
Westminster Group Plc (AIM: WSG), the AIM listed supplier of managed security 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 appointment of Mr John Maynard Mawuli Ababio to the Board as a Non-Executive Director with immediate effect.
 
Mr Mawuli Ababio, aged 60, is an accomplished Corporate Financier/Investment Banker with over 30 years' experience in structuring private equity and project financing transactions in Africa.
 
Mawuli began his career in 1984 in Geneva, Switzerland as an analyst with SIFIDA Investment Company (now BNP Paribas SIFIDA), with responsibility for the company's portfolio in North, East and Southern Africa. In 1991 he joined the African Development Bank (AfDB) in Abidjan, Cote d'Ivoire as a member of the pioneering team to set up the Bank's Private Sector Department. In 1994 he moved to Ghana as Manager of one of the UK Commonwealth Development Corporation (CDC) first ever sponsored African SME Funds.
 
In 2000 he co-founded Faith Brothers Ltd, Ghana, as an investment holding company and subsequently acquired Citi Savings and Loans Ltd. a leading micro-finance company in Ghana. This latter company was subsequently converted into Intercontinental Bank Ghana Limited and eventually acquired by Access Bank plc of Nigeria.
 
Between 2005 and 2007, Mawuli consulted with PwC France for Pro-Invest an EU funded initiative aimed at setting up VC/PE firms to fund the SME space in Francophone Africa. In 2007 he moved to Johannesburg as Managing Director of the Africa Venture Capital Association (AVCA), the industry body for African Private Equity. In 2010, he joined PCM Capital Partners (PCP) to advise on setting up the West Africa Emerging Markets Growth Fund (WAEMGF), a regional PE investment vehicle whose LP investors include the AfDB and South Africa's Private Investment Corporation (PIC).
 
Since 2012, Mawuli has been the Vice-Chairman/Managing Partner of PCM Capital Advisors a regional private equity fund with a diversified investment portfolio in several countries in the West Africa sub-region.
 
Mawuli has extensive board and corporate governance experience having served on several listed and unlisted boards over the last 20 years, both as an Executive and Non-Executive Director. He is bilingual, speaking fluent English and French.
 
Mawuli is well known to the Company having served on the Westminster Advisory Board for a number of years and his move to the Main Board follows the sad passing of Sir Malcolm Ross as announced on 28 October 2019. In addition to his appointment as Non-Executive Director he is also being appointed to the Board of Westminster's subsidiary, Westminster International (Ghana) Ltd.  
 
Mawuli will be taking the Chair of the Remuneration Committee and will be a member of the Audit, Risk, Disclosure and Nomination Committees.
 
Commenting on Mawuli's appointment, Westminster's Chairman, Sir Tony Baldry, said:
 
"We are delighted that Mawuli is now joining us on the main board.
 
"Not only does he bring additional corporate financing skills and diversity to the Board, but his knowledge and experience of African affairs will be invaluable. Given our recent announcements regarding our Tema project, which we continue to successfully operate and receive revenues, I am equally delighted Mawuli will be on the Board of our new subsidiary, Westminster International (Ghana) Ltd. providing oversight and corporate governance to what we expect to be an important and growing part of our business."
 
Commenting on his appointment Mawuli Ababio added:
 
"I am pleased to be joining the Westminster Group at this time, albeit through sad circumstances.
 
"I am aware of the many exciting opportunities the Group are developing, particularly in Africa, and I am confident that as a full member of the PLC board and of the Ghana subsidiary, I will now be in a much better position and able to devote more time in assisting the Group develop and grow its business throughout Africa and beyond."
 
The following details in relation to the appointment of John Maynard Mawuli Ababio are disclosed in accordance with Schedule 2(g) of the AIM Rules:
 




Current directorships


Past directorships held within the last five years




Total Petroleum Ghana Ltd
Gold Fields Ghana Ltd
Abosso Goldfields Ltd, Ghana
PCM Capital Partners, Mauritius


Mobus Properties Limited, Ghana
Osu Presbyterian Preparatory School
Atlantic Float Glass Ltd
Leasafric Ghana Ltd
 




Azalai Hotels Group, Mali
Intrepid Asset Management Ltd
Auctus Solutions Ltd
Bullion Securities Ltd
Bullion Investment Group
The Chamber of Commerce and Industry of France in Ghana
Alliance Francaise Accra
Cirrus Oil Services Ltd, Ghana
Pinnacle Group
Surfline Communications Ltd, Ghana
P J Greene Limited
 
 


 
 




               
There are no other disclosures in accordance with Schedule 2(g) of the AIM Rules.
 
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 & Broker)


 




Stuart Gledhill


020 3470 0470




Caroline Rowe


 




 


 




Walbrook (Investor Relations)


 




Tom Cooper


020 7933 8780




Paul Vann


0797 122 1972




 


tom.cooper@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.
 
 
 
 




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