REG - Westminster Group - Issue of Equity & Total Voting Rights <Origin Href="QuoteRef">WSG.L</Origin>

WestminsterAnnouncement

30/10/2015 07:01

RNS Number : 9362D
Westminster Group PLC
30 October 2015
30 October 2015
Westminster Group Plc: 
Issue of Equity and Total Voting Rights
Westminster Group Plc ('Westminster' 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, announces the issue of2,630,351ordinary shares of 10p each ("Conversion Shares") pursuant to the conversion of loan notesbyDarwin Capital Ltd ("Darwin") and which completes Darwin's entitlement to convert in this calendar year.
The Company has received a notice of exercise by Darwin to convert 300,000zero coupon senior unsecured convertible loan notes, into equity. Details in relation to the convertible loan notes were set out in the Company's announcement dated 22 April 2015.
The conversion price for these loan notes is11.4053 pence; calculated as the lessor ofi) 39 pence and ii) 90% of the arithmetic average of the five lowest daily volume weighted average share price calculations per ordinary share out of the ten trading days prior to conversion. As detailed in the Company's announcement on 22 April 2015, the parties have also agreed to certain limitations on conversion volumes throughout the duration of the loan notesandconsequentlyno further conversions can be made untilinto2016.
The balance outstanding on this loan is now 0.75mand there has been a total reduction in the loan balance of54.5% since drawdown.
Application will be made for the Conversion Shares, which will rankparipassuwith the Company's existing issued Ordinary Shares, to be admitted to trading on AIM. It is expected that admission will become effective and that trading in the Conversion Shares will commence on or around4November2015 ('Admission').
Total Voting Rights
In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the Company hereby announces that following Admission it will have 63,441,538 ordinary shares of 10p each in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 63,441,538.
The above figure of 63,441,538 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules. 
For further information please contact:
Westminster Group plc.
Tel: 01295 756 300
Peter Fowler (Chief Executive)
Ian Selby (Chief Financial Officer)
S. P. Angel Corporate Finance LLP (NOMAD + Broker)
Tel: 020 3470 0470 
Stuart Gledhill
Walbrook PR (Financial PR)
Tel: 020 7933 8780
Tom Cooper/Paul Vann
0797 122 1972
tom.cooper@walbrookpr.com
Notes:
Westminster Group plc is a leader in the supply of system solutions and products to the security, defence, fire protection and safety markets worldwide.
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

This information is provided by RNS
The company news service from the London Stock Exchange
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