Share Name Share Symbol Market Type Share ISIN Share Description
Westminster Group Plc LSE:WSG London Ordinary Share GB00B1XLC220 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.375 -2.73% 13.375 237,251 15:00:31
Bid Price Offer Price High Price Low Price Open Price
13.00 13.75 13.75 13.25 13.75
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 6.67 -1.37 -0.40 19
Last Trade Time Trade Type Trade Size Trade Price Currency
16:18:23 O 5,464 13.333 GBX

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Date Time Title Posts
05/12/201916:24Westminster Group PLC10
03/12/201911:38Not for rampers1,880
10/10/201916:36Westminster Group (WSG) Secure future13,888
04/6/201812:26Westminster (WSG) One to Watch Monday1
21/3/201706:22Plenty of upside for Westminster Group says Doc plus #blnx #tsco #gkp #lgo #sbry1

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Westminster Daily Update: Westminster Group Plc is listed in the Support Services sector of the London Stock Exchange with ticker WSG. The last closing price for Westminster was 13.75p.
Westminster Group Plc has a 4 week average price of 8.70p and a 12 week average price of 8.50p.
The 1 year high share price is 18.75p while the 1 year low share price is currently 6p.
There are currently 145,027,511 shares in issue and the average daily traded volume is 1,386,769 shares. The market capitalisation of Westminster Group Plc is £19,397,429.60.
this_is_me: Suddenly there is a bit of a jump in the share price.
graham1ty: I’ve also now got a reply from PF. He says “Thanks for your email. Of course, I too am frustrated by the share price. A sine qua non for upward movement, ceteris paribus, is news on our Heathrow project, but I cannot tell you about that. The share price was drifting, so I thought, why the hell not do a fund raise with the dodgiest people I could find ? Seemed to make sense and the lower the share price the better for investors as they do not have to pay so much. Yup, more champagne waiter, thanks. Now, where was I ? Yes, in Ghana or Iran, wherever they are ( pass the port, waiter, geddit ?). I can only tell you, as it is secret, but we will soon have a 100 year contract to provide donkeys for carrying goods from the port to the waiting chariots. Do not pass that on, as I am only telling you. Lots of love Pierre Foucault” So, there we have it.
this_is_me: Yes they have started the contract so must have had enough working capital to invest. They could in any case borrow against the cash flow now that it is up and running. Unless there is another big contract about to start, my guess is that they will have enough cash. They might, however, wait until they see how high the share price goes and do a placing to get rid of at least some of the high price borrowings.
this_is_me: Yes, it should make us cash flow positive and finance the working capital of the next project start. The share price has been going up steadily now for about 3 weeks. There is bound to be some selling due to the huge rise but I intend to keep my relatively small holding for the long term.
loobrush: Things are turning round here and their is one hell of a lot in the pipeline with Westminster that could break at any time, plus all the deals they have not mentioned. Todays share price is an ideal opportunity to get on board and I expect the share price to be aleast double today's by xmas. Further contract news should only be a few weeks away and when investors see that Westminster is becoming successful and growing fast the share price will really move.
graham1ty: Dbnout it will be a lot more painful when the share price sits well below 10p and they have to call an EGM to change the nominal value of the shares, and then raise money at below 5p. That will be pain The shares were 5.5p in May 2016, so not so long ago
graham1ty: Youkme, you say “the market knows”. I am not sure it does, or why is the price still up at these levels ? Especially in this market, where lots of stocks have got hammered, why is the share price not down at 5-6p again ? There must be some disillusioned holders who would get out at any price ? And I cannot believe the blind bulls would be able to soak up that much more. Who on Earth is supporting it at these levels ? There is no Iran contract yet; none of the promised MOUs; cash draining away all the time ( though possibly saved by payments for the Tech contract); the share price is below nominal value, making a quick Placing impossible. What is not to like ? It would just take one big seller to say Get me out of here, and a market maker bidding 7.5p in size, to see this down 25% in the blink of an eye
only1gibbo: Actually, it isn't a fact. The terms of the CLNs are: "Company can force conversion if the share price is > 65p for 15 working days after 19 June 2016. Company can make repayment without penalty if the share price is > 42p for 15 working days after 19 June 2016." As we are 7 weeks away from the maturity date, with the possibility of announcing a significant contract in the meantime, it is still quite possible that the share price could exceed 65p for more than 15 days before then, leaving the company with the option of forcing conversion. However unlikely you think that is, it is still a real possibility and therefore it is incorrect to state that it is a fact. You should not mislead people. Furthermore, even in the event that the ME contract is not signed prior to that date, and the previously announced financing package (which we are told will take care of the CLNs) is therefore delayed further, it still does not follow that the CLNs will necessarily need to be cash settled. It is quite possible, in fact I would venture quite probable, that the CLNs will be rolled over / extended for a further period of time. By doing so, the holders of the CLNs would maintain their conversion option, with the potential share price gains when the contract is announced, whilst earning a healthy (currently 10%) return pa, and also having a fixed and floating charge over the assets of the company as security. (Just I case it isn't obvious, that is little downside risk, with huge upside potential whilst earning 10% in the meantime). Given that the company has no other debt, I suspect it will not find that a difficult task to achieve. Your implication that the Company is somewhat in dire financial straights and therefore in urgent need of dilutive fund raising is disingenuous at best.
youkme: Yes but if the share price is where it is it will take far more shares to repay the 2.2m. It can only convert at 35p if the share price is at or above that price. So as you say 2.2m in cash or X number of shares depending on what price share price Angel can get them away at imo. Couple that with the "keep the lights on" and circa £3m might not be an unreasonable amount. Can share price Angel get that much away? Who knows. Nominal value at 10p darwin might well be interested AGAIN imo Market cap £26m, as I say considerable dilution can be expected just imo
nick2412: Profit margin on the ME contract should be about 50%. There will be upfront costs hence the funding but this should primarily come from a bank loan backed by UKEF (UK Export Finance). Reason for most if not all of the envisaged funding coming from a bank loan is because:- a) WSG deliberately sought a replacement FD whose background has been heavily involved with UKEF. b) In the context of Brexit the Govt is trying to help companies get contracts in non EU countries hence the countless references by WSG in the last 12 months to 'high level' UK Govt support. c) the contract looks like it is quite probably Muscat / Oman with the new terminal trials set to conclude with the test flight which I think is today. Liam Fox announced in April this year that the amount of UKEF finance for companies with contract with Oman has been increased from £2b to £3b d) The business model with WSG getting automatically paid direct by the airlines will easily meet the criteria of UKEF. So most of the funds will come from UKEF and perhaps a small equity raise. 121m shares in issue now and conservatively I'd factor in 135m shares. The £2.5m loan is I believe convertible at 30p in June or July next year so that accounts for circa 8m shares as when the contract, that looks nailed on, is hopefully signed in January the share price should be well above 30p so I'd envisage conversion rather than repayment. Once this LOI is converted into a contract then credibility is established both with the clients for the other MOU's and the market should give some weight to these. So a 15 year contract worth £22m for the initial phase with a 50% profit margin should get a decent P/E assigned. Also if it is Oman the passenger figures projected were 12m per annum but Oman has had growth and there is planned scope, subject to demand, for increased capacity right up to a maximum of 48m over time. Oman like a few ME countries has plans for a futuristic city. The are other international upgrades as well which WSG may be involved in either from announcement on the contract or in additional phases. So that leads to the question what m/cap should the market assign to a company (when it gets confirmation) with an initial phase contract of £22m, an estimated 135m shares in issue, profit margin of about 50%, scope to fund it primarily with UKEF and perhaps a small equity funding contribution. With a P/E of 10 we are looking at 74p . A P/E of 15 gives 111p. I'd argue for the latter given the £22m figure is the first 'phase', there are other MOU's plus the potential border contract in the same area that will suddenly gain credibility and be factored in. Understandably, given the delays, these MOU's plus the potential border contract currently have zero value factored into the share price. The market usually discounts so I wouldn't expect an immediate post contract £1 a share price but if the funding is, as I'd expect, primarily UKEF based then it should do over time. Pre-contract then I can see the price trending to mid 20's. Interesting times and a nice Christmas announcement.
Westminster share price data is direct from the London Stock Exchange
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P: V: D:20191212 18:19:50