Westminster Group PLC Redemption of CSLN (8208D)
24 Febrero 2020 - 1:00AM
UK Regulatory
TIDMWSG
RNS Number : 8208D
Westminster Group PLC
24 February 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')
Reduction of Debt by Redemption of Convertible Loan Notes
Westminster Group Plc (AIM: WSG), a leading supplier of managed
services and technology-based security solutions worldwide, is
pleased to announce a reduction in its debt position and reduction
in financing costs following the redemption of GBP561,250 worth of
its Convertible Secured Loan Notes ("CSLN").
The Company announced on 23 January 2020 that it had commenced a
staged redemption programme of the Company's existing GBP2.245m
CSLN, initially issued on 19 June 2013 and amended on 22 May 2019
and which currently carry a 15% coupon. Holders may elect to
convert their CSLN at 10p per share in place of cash
redemption.
The first stage of this redemption programme (25% of the CSLN)
has now been completed, reducing the Company's debt position by
GBP561,250 with a corresponding reduction in its financing costs.
The Company intends to continue with its staged redemption
programme, which is planned to be completed in advance of the CSLN
maturity date of 30 June 2020.
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 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.
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.
END
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