Westminster Group PLC Extension of Convertible Loan Notes (1241I)

TIDMWSG

RNS Number : 1241I

Westminster Group PLC

31 March 2020

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN

Westminster Group Plc

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

Extension of Convertible Loan Notes to 1 May 2021

Westminster Group Plc (AIM: WSG), a leading supplier of managed services and technology-based security solutions worldwide, is pleased to announce that in view of the Coronavirus (COVID-19) pandemic it has received the required support and agreement from noteholders to extend the maturity date of its Convertible Secured Loan Notes ("CLNs") to 1 May 2021.

As previously announced, the Company had commenced a staged redemption programme of its CLNs in January 2020, reducing the outstanding amount by GBP561,250 to GBP1,683,750, which was then expected to be fully redeemed before the previous maturity date of 30 June 2020. This extension provides the Company with the flexibility to make redemptions at any time up to 1 May 2021, thereby prudently conserving cash during the current uncertain times, although the Company will still look to make redemptions at the earliest opportunity as and when appropriate. All other terms of the CLNs remain unchanged.

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 
Nick Rome                                  [e-mail] 
 

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 (including Fever 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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March 31, 2020 02:00 ET (06:00 GMT)