Westminster Group PLC Extension of Convertible Loan Notes (1241I)
31 Marzo 2020 - 12:00AM
UK Regulatory
TIDMWSG
RNS Number : 1241I
Westminster Group PLC
31 March 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')
Extension of Convertible Loan Notes to 1 May 2021
Westminster Group Plc (AIM: WSG), a leading supplier of managed
services and technology-based security solutions worldwide, is
pleased to announce that in view of the Coronavirus (COVID-19)
pandemic it has received the required support and agreement from
noteholders to extend the maturity date of its Convertible Secured
Loan Notes ("CLNs") to 1 May 2021.
As previously announced, the Company had commenced a staged
redemption programme of its CLNs in January 2020, reducing the
outstanding amount by GBP561,250 to GBP1,683,750, which was then
expected to be fully redeemed before the previous maturity date of
30 June 2020. This extension provides the Company with the
flexibility to make redemptions at any time up to 1 May 2021,
thereby prudently conserving cash during the current uncertain
times, although the Company will still look to make redemptions at
the earliest opportunity as and when appropriate. All other terms
of the CLNs remain unchanged.
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 (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.
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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