WSG Westminster Group Plc

TIDMWSG

RNS Number : 5074D

Westminster Group PLC

22 June 2023

22 June 2023

Westminster Group Plc

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

Board Changes and Cost Optimisation Progress

Westminster Group Plc (AIM: WSG), a leading supplier of managed services and technology-based security solutions, announces the following board changes.

After several years' valuable service, Mr Mawuli Ababio will be stepping down from his role as Non-Executive Director at the conclusion of the Company's AGM on Wednesday 28 June 2023, in order spend more time on his other commitments. His will, however, remain available to advise the Company as part of Westminster's International Advisory Board, which he served on prior to joining the Board.

Also, at the conclusion of the AGM, the Company's Chairman, the Rt Hon. Sir Tony Baldry, will move from the position of Executive Chairman to Non-Executive Chairman.

The above changes will provide a balanced Board with three Executives and three Non-Executives and is in line with best corporate governance practices.

As noted in the Company's 2022 Annual Results, we achieved a greatly improved position and the Company is pleased to report it is now implementing cost optimisation measures to better streamline the business, with a view to improve profitability whilst maintaining maximum future growth potential.

Commenting on the changes, Westminster's Chairman, Rt Hon Sir Tony Baldry, said:

"I would like to express my and the Board's appreciation for Mawuli's dedication and hard work over the past few years. He has made a positive contribution to the Group and is a valued board member. I am delighted therefore that he will remain with us as part of our Advisory Board.

"Equally I am happy to assume the role of Non-Executive Chairman as part of our cost optimisation programme, and in line with best corporate governance practices, and look forward to continuing to assist Westminster in delivering on its exciting growth potential."

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 
Paul Vann 
Nick Rome                                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

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.

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 rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

BOAUAABROSUNUAR

(END) Dow Jones Newswires

June 22, 2023 02:00 ET (06:00 GMT)

Westminster (LSE:WSG)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024

Westminster (LSE:WSG)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024