REG - Westminster Group - Strategic Review

WestminsterAnnouncement

11/11/2024 12:15

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RNS Number : 7405L  Westminster Group PLC  11 November 2024

 

 

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)                                020 3829 5000

 Louisa Waddell

 Simon Johnson

 Walbrook (Investor Relations)
 Tom Cooper                                                   020 7933 8780
 Joe Walker
 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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