WSG Westminster Group Plc

TIDMWSG

RNS Number : 7840V

Westminster Group PLC

01 February 2017

1 February 2017

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 of 2,228,367 ordinary shares of 10p each ("Conversion Shares") pursuant to the conversion of loan notes by Darwin Capital Ltd ("Darwin").

The Company has received a notice of exercise by Darwin to convert GBP300,000 zero coupon senior unsecured convertible loan notes, as detailed in the announcement dated 22 November 2016, into equity.

The conversion price for these loan notes is 13.462773 pence; calculated as the lessor of i) 65 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 November 2016, the parties have also agreed to certain limitations on conversion volumes throughout the duration of the loan notes.

The balance outstanding on this loan is now GBP0.9m.

Application will be made for the Conversion Shares, which will rank pari passu with 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 around 7 February 2017 ('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 89,336,270 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 89,336,270.

The above figure of 89,336,270 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/Lindsay Mair 
 
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

END

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