TIDMWSG
RNS Number : 9939Q
Westminster Group PLC
25 June 2020
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014
Westminster Group Plc
('Westminster', the 'Group' or the 'Company')
AGM Statement
and Investor Webinar at 12.30pm on 23 July 2020
Westminster Group Plc (AIM: WSG), a leading supplier of managed
services and technology-based security solutions worldwide, will
hold its Annual General Meeting today at 11am at the Company's
offices Westminster House, Blacklocks Hill, Banbury Lane, Banbury,
Oxfordshire, OX17 2BS.
In order to comply with the UK Government's COVID-19 measures
which restricts, amongst other things, public gatherings of people,
the AGM is being convened as a 'closed meeting' with a quorum of
two and other shareholders will not be permitted entry on the
grounds of safety. All votes will be taken as a poll which will
include all the proxy votes submitted in accordance with the notice
of AGM.
Ahead of the AGM, Westminster's Chief Executive Officer, Peter
Fowler, has issued the following statement updating on trading:
"In our 2019 Annual Report I was pleased to report that we have
achieved impressive year on year revenue growth over the past few
years and that we expected this to continue. Notwithstanding the
impact of COVID-19, trading for 2020 started on a positive note and
this has continued throughout the first six months of the year.
Since the start of the COVID-19 crisis, we have maintained full
employment of all our staff and have remained extremely busy, even
expanding parts of our business. We are continuing to manage our
cash resources well, and as of today's date the Group has cash in
the bank of circa GBP1.7million.
"As previously announced, flights to our West African airport
operation were suspended for 3 months on 22 March 2020 due to the
COVID-19 pandemic. The authorities are currently assessing the
situation and have begun to ease the lockdown with a view to
reopening the airport for commercial traffic. Some airlines are
provisionally looking to recommence services in mid-July. However,
we await formal notification of the dates.
"I am pleased to report that our container screening operations
in Ghana have been largely unaffected by COVID-19 and continue to
generate healthy returns.
"Following successful fever screening trials at Stockholm's
Arlanda Airport, both Menzies and their clients have been impressed
with the versatility of the system, adapting to different
challenges and processes within the airport environment. As the
trial period comes to an end, Menzies Aviation is confident that
they can now offer the Westminster solution to their global clients
as part of their wider commercial package.
"As previously announced, we have embarked on a project to
introduce specialist 'unattended retail' vending machines that
dispense masks and facial coverings to the UK market. For this
project Westminster has entered into two exclusive partnerships in
order to deliver the best possible vending solutions to clients.
Tru Vend are a subsidiary of an existing supplier and are the
manufacturers of a wide range of vending machines specifically for
PPE items. Westminster has signed a UK exclusive agreement to
distribute and market the machines in the UK unattended retail
space. SV365 Technologies are Westminster's second partner in this
venture and have been involved in the vending machine industry for
30 years bringing a wealth of experience to the process. SV365 will
manage the day to day operations, restocking and maintenance of the
deployed machines across the UK, utilising Westminster's products,
as well as delivering the cutting-edge telemetry technology. The
telemetry systems are the only one of their kind in Europe that
have a live feed of the machines actions when in operation, which
will give the stakeholders full live visibility of the machines
performance and vending output. UV Hand Sanitizer applications and
complete contactless payment methods ensure that the Westminster
vending machines are the most advanced in the market, which is
important, especially during the current pandemic environment.
"Continuing our programme of targeted joint ventures and
strategic partnerships, we are delighted to have signed a new
strategic alliance agreement with JP International Training Limited
('JP International'). As part of our expansion programme in today's
"New Normal", we have been developing solutions to provide our
worldwide clients, organisations and businesses with e-Learning
platforms to help maintain skills and competency of their staff.
Our strategic partnership with JP International will further
enhance our e-product services and will allow access to
industry-leading training, delivered at our clients' own pace and
tailored to enhance their employees knowledge, skills and ability
so they may carry out their roles effectively.
"A key strategy for 2020 has been to redefine our diverse
businesses in line with our 'One Company, One Vision' approach
which involved rebranding parts of our business to better reflect
the global Westminster brand. To those ends we are implementing
several new strategies.
"We have recently launched the first phase of the new
Westminster website. The website has been designed to ensure the
visitor journey throughout the site is an informative interaction
with the Westminster Group and its strong and trusted brand. The
new website is still a work in progress with more content and
applications constantly being added. The other Group websites are
in the process of being migrated. The new website brings better
focus on the Group's vast range of LAND, SEA & AIR products and
solutions, and will in due course encompass a sophisticated
e-commerce section and enlarged customer and investor engagement
areas.
"In addition to the new website, a re-branding exercise was
completed with the Westminster Group logo being modernised and
aligned with tones and formats of the new website.
"We have also implemented a UK focussed TV advertising campaign
across a variety of channels, with the theme 'Get Back to Work
Safely'. Whilst this is principally targeted at generating sales,
it is equally designed to enhance brand awareness and the expansion
our UK client base. We have also expanded our product base to not
only include all levels of fever and detection and associated
equipment but also a range of sanitisation products and systems to
assist businesses maintain compliance with social distancing
requirements.
"These are exciting times for Westminster, and I look forward to
the website's further expansion in the weeks ahead together with
the various other expansion and marketing initiatives we are
undertaking.
"Despite the lockdown and inability to travel, discussions have
been continuing with a number of prospective clients for
significant managed services contracts.
"Over the next few months and years, we have an opportunity to
achieve unprecedented growth from the prospects we are pursuing,
and the Board and I remain committed to delivering on this
potential."
Investor Webinar
As previously reported, the Company will be holding an investor
webinar at 12:30 pm on 23 July 2020 to provide an update on the
Company's activities and trading. Further details and registration
details are available on the Group's website at
https://www.wsg-corporate.com/investor-relations/ . Questions can
be submitted in advance to Westminster@walbrookpr.com .
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 0797 122 1972
tom.cooper@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 (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.
The Westminster Group Foundation was formed in 2014 as an
initiative of Westminster Group plc. during the West African Ebola
Crisis.
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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END
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