Westminster Group PLC Strategic Review

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)   Louisa Waddell Simon Johnson       020 3829 5000   Walbrook (Investor Relations) Tom Cooper 020 7933 8780 Joe Walker 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, 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

 

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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