1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. Dear Guest, we realise advertising is annoying, it is however necessary to help us be a sustainable resource for all, if you want to go advert free then please use the following link to subscribe for £5 a month: Click here
    Dismiss Notice

(WSG) Westminster Group Share Chat

Discussion in 'General Share Chat (WSG)' started by Microem1, Nov 6, 2015.

  1. Groucho

    Groucho Member

    Messages:
    8,230
    Reputation:
    364
    Euro Ops, The Westminster Group’s French subsidiary, has recently signed a Memorandum of Understanding (MoU) with the Ministry of Transport, Urban Mobility and Road Safety in Burkina Faso, West Africa, relating to the provision of advanced airport securing solutions to the country’s international airports.
    The MoU was signed at a ceremony in Ouagadougou, Burkina Faso, on 17 May 2021 by Vincent Timbindi Dabilgou, Minister of Transport and Euro Ops Director, Mr Vincent Toscani.

    The MoU sets out the programme under which the Westminster Group will use its vast experience and expertise in the provision of aviation security to assist the Burkina Faso authorities to create a world-class aviation security operation at the country’s international airports in accordance with international regulations and requirements. Westminster will provide the required investment and expertise necessary to deliver install and maintain the latest airport security solutions as well as provide training and management support services under Westminster’s proven long-term aviation security managed services programme.

    Commenting on the development Westminster Group CEO, Peter Fowler, said:

    “Airports are an important gateway to any country and particularly so for landlocked countries such as Burkina Faso. I am delighted therefore that Westminster has now entered into this important Memorandum of Understanding with the Ministry of Transport to help build, what I am confident will be, world-class airport security operations, so important in today’s world.“As with all our operations around the world we will endeavour to work with the local communities to bring prosperity and employment and I look forward to a long-term association with the country.”
    https://www.wg-plc.com/news/burkina-faso-mou
     
  2. Groucho

    Groucho Member

    Messages:
    8,230
    Reputation:
    364
    28 May 2021

    Westminster Group Plc

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


    Annual Report & Accounts, Notice of AGM & Board Changes


    Westminster Group Plc (AIM: WSG), a leading supplier of managed services and technology-based security solutions worldwide, confirms that its Report & Accounts for the year ended 31 December 2020 and the Notice of AGM has been posted to registered shareholders.

    Electronic versions of both documents are available on the Company's website - www.wsg-corporate.com.

    As is explained in the AGM notice, the Company's AGM is expected to be held at the offices of PKF Littlejohn LLP, 15 Westferry Circus, London, E14 4HD on 24 June 2021 at 11.00 a.m. (BST). Votes may be submitted prior to the AGM by mail using the Form of Proxy or in the case of CREST members, by utilising the CREST electronic proxy appointment service.

    The Board has been closely monitoring the COVID-19 pandemic and its implications for the manner in which the Annual General Meeting will be held. It is the Board's intention to proceed with holding the Annual General Meeting on 24 June 2021 at 11.00 a.m. (BST) as an open meeting. Accordingly, Shareholders are invited to attend this year's AGM in person. In February, the Government published its "COVID-19 Response - Spring 2021" which set out the roadmap to the easing of restrictions across England. Whilst it provides a route back to a more normal way of life, it is unclear as to what restrictions may be in place on the day of the Annual General Meeting. Given the evolving nature of the situation, it may become necessary to make alternative arrangements for the Annual General Meeting and the manner in which it is held, should the restrictions that are in place at the time of the meeting restrict or prevent Shareholders from attending in person.

    In such circumstances, the Company will notify Shareholders of this change by means of an announcement and, to cover this eventuality, Shareholders are encouraged to submit their proxy form and to use their right to appoint the Chair of the Annual General Meeting as their proxy. Shareholders can do this by using one of the methods detailed in the notes to the Notice of Annual General Meeting as soon as possible. It is important to note that the submission of a proxy form in this manner will not preclude Shareholders from attending the meeting in person, where this is still possible.

    Proxies must be received by the Company's registrars, Link Group, by no later than 11.00 a.m. BST on 22 June 2021.

    In addition, the Company also intends to hold an investor webinar shortly after the AGM to present to shareholders unable to attend in person an update on the Company's activities and trading. Details will be made available on the Company's website nearer the date of the AGM.


    Board Changes

    Mr Charles Cattaneo will be stepping down from the Board as a Non-Executive Director with effect from the end of the Annual General Meeting. The Company will update the market in due course on his replacement.

    Separately, the Company is pleased to announce that Non-Executive Director, Mr Mawuli Ababio, has been appointed as Deputy Chairman of the Company.


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

    "We are sorry that, due to pressures on his time, Charles has decided to step down from the Board. In the last two years he has been a valued board member and a positive force in the Group. We would like to sincerely thank him for his contribution.

    "On a separate note, I am pleased to announce that our non-executive director, Mr Mawuli Ababio, has been appointed as Deputy Chairman. Mawuli has proved to be a real asset to the business and his understanding and knowledge of emerging markets has proven most helpful."
     
  3. Groucho

    Groucho Member

    Messages:
    8,230
    Reputation:
    364
    15 June 2021

    Westminster Group Plc

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


    New Minimum 20 Year Multi-Million USD Managed Services Contract covering

    5 Airports in the Democratic Republic of the Congo


    Westminster Group Plc (AIM: WSG), a leading supplier of managed services and technology-based security solutions worldwide, is pleased to announce that its Services Division has been awarded a long-term managed services contract to provide security services to 5 airports in the Democratic Republic of the Congo('DRC'), Central Africa.

    The contract was officially signed in Kinshasa by board representatives of Westminster and the airport authority, La Regie Des Voies Aeriennes (RVA) and witnessed by the British Ambassador, Ms Emily Maltman. The signed contract will now undergo formal ratification in accordance with DRC government procurement requirements before meaningful activities commence.

    This latest multi-million USD per annum managed services contract was secured after many months of negotiation and delays caused by COVID travel restrictions. The contract, which is for an initial period of 20 years, with a 5-year renewal thereafter, is to provide comprehensive ground security operations, initially at 4 international airports and 1 national airport in the DRC. Westminster is to provide its expertise in assisting the authorities to develop and maintain world-class airport security services, opening up the potential for growth in air traffic by attracting new international carriers and commercial enterprises to the region.

    The contract is based on Westminster's managed services model successfully deployed elsewhere in Africa. Revenues will be driven by embarking passenger numbers using the airports and funded by a per passenger fee denominated in USD, collected through the ticketing system and payable directly to Westminster by the airlines or a suitable collection agency such as the International Air Transport Association ('IATA'). Whilst air travel remains impacted by COVID, with passenger numbers estimated to be currently around 50% of normal levels and full recovery not expected until 2023, the contract is still expected to generate revenues in excess of $6m in the first twelve months of operation with proportional growth in revenues and margins as passenger numbers recover to normal levels. In addition, there is an opportunity under the contract for further revenues from cargo screening operations.

    Under the contract, Westminster will assume the employment and management of the airports' aviation security teams and technical staff and fund the upgrade of the security infrastructure, installing new security equipment and fencing, including a wide range of detection and surveillance technologies which will be maintained and updated throughout the life of the contract. Westminster will also assist the airports to become more Covid resilient by installing temperature screening and sanitisations systems. In addition to improving the employment conditions of existing security staff at the airport, Westminster will also provide a small team of experienced aviation security specialists to assist the airport operator meet and maintain the highest levels of security by providing the required training, mentoring, skills transfer and compliance support services.

    The contract includes a 90-day transition period to allow for operational planning and recruitment processes to be completed. Operations are therefore expected to formally commence in September 2021, although Westminster will deploy its transition team once the DRC government ratification process has been completed in order to commence planning, recruitment, training and logistics. The required investment in the project by Westminster will be spread over a number of years as systems and equipment are deployed and upgraded.

    The Company will continue to monitor its ongoing funding requirements and most appropriate sources of such funding, as this contract develops, alongside other potential contracts being pursued globally to ensure the Group has adequate financing in place to deal with the targeted expansion of services.


    Commenting on the contract award Westminster's Chief Executive Officer, Peter Fowler, said:

    "We stated in our 2020 annual report, issued in May 2021, that delivering at least one more large-scale managed services contract this year, despite COVID challenges, was one of our priority goals. I am therefore delighted that our Services Division has secured this important new long-term managed services contract in the DRC, one of several such opportunities being pursued around the world, which further expands our airport security projects and international presence.

    "I am also delighted that as a direct result of our strategic acquisition of our French business, Euro Ops, in 2019 that we are now developing opportunities, such as this, in Francophone Africa.

    "The Democratic Republic of the Congo has been one of our target markets for some time and a country we believe has exciting growth potential. With a surface area equivalent to that of Western Europe it is, by area, the largest country in sub-Saharan Africa, the second largest in all of Africa, and the 11th-largest in the world.It is also the most-populous Francophone country in the world. Air travel is therefore an important and a necessary requirement within this vast country. The country is extremely rich in natural resources and has the potential for sizeable economic growth. I look forward to Westminster having a long-term presence in the country and in playing our part in the successful growth and security of the country's numerous airports."
     
  4. Groucho

    Groucho Member

    Messages:
    8,230
    Reputation:
    364
  5. Groucho

    Groucho Member

    Messages:
    8,230
    Reputation:
    364
    Zak Mir takes a technical analysis look at some of the most followed small caps on the London market. Today's selection includes Chaarat, Hemogenyx, Pensana, Tirupati and Westminster Group. #WSG 7:50 onwards.
     
  6. Groucho

    Groucho Member

    Messages:
    8,230
    Reputation:
    364
    16 June 2021

    Westminster Group Plc

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


    Further New Contract Award

    10 Year Managed Services Contract - Freeport of Monrovia, Liberia


    Westminster Group Plc (AIM: WSG), a leading supplier of managed services and technology-based security solutions worldwide, is pleased to announce that it has been awarded a long-term managed service contract to exclusively provide port screening services at Monrovia Freeport (the "Port") in Liberia, West Africa.

    Further to Liberia's accession to the World Trade Organization (WTO) and as part of a broader in-country policy of boosting trade and easing the export and import of goods, the Government of Liberia undertook an international competitive tender process in accordance with the provisions of the Liberian Public Procurement and Concessions Commission Act for the purpose of selecting a competent and experienced group to build capacity under a long-term Build-Operate-Transfer ("BOT") arrangement by investing in and upgrading various services at the Port.

    Following a lengthy evaluation process, a contract was awarded to a consortium led by Medtech Scientific Ltd. from the United Arab Emirates, who in turn has entered into a contract with Westminster (the "Contract") to provide port screening services for an initial period of ten years, commencing 1 July 2021. The initial period may be extended by agreement of the parties.

    The Contract, based on Westminster's proven BOT managed services model with revenues generated from all import containers passing through the Port, whether screened or not, is expected to generate around $1.1m in revenues in the first 12 months of operation. Under the Contract, Westminster will provide the screening systems, warehousing and infrastructure to undertake screening and intrusive search of selected import containers, maintain and operate the systems and provide comprehensive training services to customs and other staff throughout the term of the agreement.

    The entire deployment phase of the project is expected to be completed within 18 months. Westminster will have a presence in country from 1 July 2021 organising set up and logistics and will begin manual inspections and screening services in September 2021.

    Initial deployment expenses incurred pursuant to the Contract will be satisfied from existing resources, however as the Company noted yesterday, with a pipeline of multiple other potential contracts, the Company continues to monitor funding requirements and options to ensure it has adequate financing in place to deal with the anticipated expansion of services.


    Commenting on the contract award, Westminster CEO, Peter Fowler, said:

    "Following our announcement yesterday of a 20+ year multi-million USD managed services contract for airport security, I am delighted to be able to announce yet another long-term port security managed services contract, particularly in West Africa where we already have a strong presence, and I am equally pleased this new contract opens up another new country for our operations.

    "I know the Liberian authorities are very keen on capacity building, education and skills enhancement and I believe the services we offer, not just our technical expertise but our training and support services together with our community support programmes via the Westminster Group Foundation, will greatly benefit the country.

    "This latest new contract win further demonstrates Westminster's global reach and our ability to secure business in new territories and is a testament to the hard work and dedication of our business development teams around the world who have been working hard through the challenging conditions and travel restrictions created by the global pandemic. This particular contract is as a result of more than two years activities.

    "A key goal we had set for the Company in 2021 was to secure at least one more large-scale managed services contract and so to have now secured two such contracts in two days is most encouraging."
     
  7. Groucho

    Groucho Member

    Messages:
    8,230
    Reputation:
    364

    15/06/2021
     
  8. Groucho

    Groucho Member

    Messages:
    8,230
    Reputation:
    364
    Screenshot_20210616-093901_The Mail.jpg
    Daily Mail 16/06/2021
     
  9. Groucho

    Groucho Member

    Messages:
    8,230
    Reputation:
    364
    17 June 2021

    Westminster Group Plc

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


    Notice of AGM Changes


    In the Notice of AGM circulated on 28 May 2021, the Company announced it would hold its Annual General Meeting at the offices of PKF Littlejohn LLP ("PKF"), 15 Westferry Circus, London, E14 4HD on 24 June 2021 at 11.00 a.m. (BST) and with all shareholders invited to attend the meeting in person, should they wish to do so. The Company also notified shareholders in that Notice of AGM that the Board was closely monitoring the COVID-19 pandemic and that it may become necessary to make alternative arrangements should restrictions still be in place at the time of the meeting.

    Following the announcement made by the Prime Minster on 14 June 2021 that the COVID-19 restrictions will not now be lifted on 21 June 2021, as originally expected, but extended to 19 July 2021, certain changes to the arrangements for the AGM will now need to be made. In particular, PKF have advised the Company that the maximum permitted number of persons that will now be able to attend the AGM in person will be limited to no more than ten people.

    The Board would like to confirm that the Company still intends to hold its AGM at the offices of PKF on the appointed date and time. However, given that attendees at the meeting will now be limited to ten persons, shareholders are therefore being encouraged not to attend the meeting in person anymore. In order to maximise the opportunity for a small number of shareholders who can and do wish to attend the meeting, the Board will limit its own attendance to three and with no advisors present. That will leave space for up to seven shareholders to attend. These spaces for additional shareholders will need to be pre-booked and will be allocated on a first come first served basis. Shareholders may register their interest to attend the meeting by contacting the Company Secretary together with proof of their shareholding at cosec@wg-plc.com The Company Secretary will confirm to all candidates whether or not they have been successful.

    The Board recognises the importance of shareholder engagement and is conscious that, in light of the COVID-19 restrictions, the Company's recent general meetings have had to be held with only the minimum number of shareholders in attendance to meet the minimum quorum requirements for those meetings. In view of this and the above and, in order to give all shareholders a chance to hear proceedings and ask any questions that they may have, the Company will provide access to the AGM through the Investor Meet Company platform. Shareholders who wish to do so should use the following link to register: https://bit.ly/35pkt9t

    Questions can also be submitted pre-event to westminster@walbrookpr.com or in real time during the presentation via the "Ask a Question" function.

    It is important to note that, whilst the platform allows shareholders to follow the AGM and ask questions of the Board, the platform does not allow shareholders to vote at the meeting. Accordingly, shareholders are strongly encouraged to return their duly completed form of proxy and to appoint the Chairman as their proxy at the meeting in accordance with the instructions set out in the notes to the Notice of AGM as soon as possible, if they have not done so already. In any event, proxies must be received by the Company's registrars, Link Group, by no later than 11.00 a.m. BST on 22 June 2021.
     
  10. Groucho

    Groucho Member

    Messages:
    8,230
    Reputation:
    364
    17 June 2021

    Westminster Group plc

    ("Westminster" or the "Company")

    Proposed Placing to raise approximately £2.5 million

    Westminster Group plc (AIM: WSG), a leading supplier of managed services and technology-based security solutions worldwide, announces a proposed placing (the "Placing"), via an accelerated bookbuild, of new ordinary shares (the "Placing Shares") in the capital of the Company. The Placing has been led by strong institutional demand.

    The Placing will be conducted at a price of 5.7 pence per share (the "Issue Price") in order to raise, in aggregate, approximately £2.5 million (before expenses). The Placing will, on the basis of a £2.5 million placing, comprise the issue of approximately 43.9 million Placing Shares, representing approximately 13.3 per cent of the Enlarged Share Capital.

    Key highlights

    Proposed Placing of the Placing Shares at the Issue Price, raising approximately £2.5 million (before expenses). The Placing will be carried out using the Company's existing shareholder authorities.

    The Placing will serve to put the Company in a stronger position for the next stage of its development by providing additional working capital to support the growth and delivery of the recently secured contracts, which require upfront capital investment from the Company, together with ensuring the Company is better able to deliver on its strong pipeline of near-term potential major projects, which it hopes to be successful in winning.

    The Placing will be conducted by way of an accelerated bookbuild process (the "Bookbuild ") by Arden Partners plc ("Arden"), as sole Broker, which will open with immediate effect following this Announcement. The timing for the close of the Bookbuild and allocation of the Placing Shares shall be at the discretion of Arden, in consultation with the Company. The Placing is not underwritten. The final number of Placing Shares will be agreed by Arden and the Company at the close of the Bookbuild and the result will be announced as soon as practicable thereafter.

    The Placing is subject to the terms and conditions set out in the appendix (the "Appendix") to this announcement (which forms part of this announcement, this announcement and the Appendix together being this "Announcement").

    The Issue Price represents a premium of 1.8 per cent to the closing middle market price on the London Stock Exchange on 17 June 2021, being the latest practicable date prior to the publication of this Announcement.


    Westminster Group - Proposed Placing to raise approximately £2.5m #WSG @wg_plc https://www.voxmarkets.co.uk/rns/announcement/63059025-8a09-4bd0-a3d6-209cf5fbb908 #voxmarkets

    2. Background to and reasons for the Proposals

    The Company has recently entered into a number of important new contracts, including the minimum 20 year managed services, multi-million USD contract for 5 airports in the Democratic Republic of Congo and the 10 year managed services contract at the Freeport of Monrovia, Liberia.

    In addition, the Company has a current pipeline of large-scale opportunities, as well as multiple further opportunities being pursued and, whilst there is no guarantee of outcome, a number of projects are at advanced stage. These include projects across both the Services and the Technology Divisions, across multiple global jurisdictions.

    The Services Division has a pipeline of prospective opportunities for managed services contracts across Africa, the Middle East and Europe, as well as a prospective project to take over and run a National Civil Aviation Training Centre in the Middle East.

    The Technology Division also has a healthy pipeline of opportunities, to provide security and protection solutions for various purposes (including a major sporting event), mass screening solutions and sanitisation solutions to airports globally.

    The Placing will serve to put the Company in a stronger position for the next stage of its development by providing additional working capital to support the growth and delivery of the recently secured contracts, which require upfront capital investment from the Company, together with ensuring the Company is better able to deliver on its pipeline of near-term potential major projects, which it hopes to be successful in winning.
     
  11. Groucho

    Groucho Member

    Messages:
    8,230
    Reputation:
    364
    18 June 2021

    Westminster Group plc

    ("Westminster" or the "Company")

    Result of Placing to raise £2.5m

    Westminster Group plc (AIM: WSG), a leading supplier of managed services and technology-based security solutions worldwide, is pleased to announce that, further to the announcement made yesterday, the Company has conditionally raised gross proceeds of £2.5 million by the placing of 43,859,649 Placing Shares, at a price of 5.7 pence per Placing Share (the "Issue Price"). The Placing was oversubscribed and led by strong institutional demand. The Placing is being carried out using the Company's existing shareholder authorities.

    The Placing Shares will be issued credited as fully paid and will, on issue, rank pari passu in all respects with the existing issued Ordinary Shares, including the right to receive all dividends and other distributions thereafter declared, made or paid on the same.

    The Placing was conducted through an accelerated bookbuild process undertaken by Arden Partners PLC ("Arden") acting as sole bookrunner and broker to the Company.

    Peter Fowler, Westminster's Chief Executive Officer, commented:

    "I am encouraged by signs travel restrictions may, at last, be beginning to ease in a number of regions and that some of our delayed projects are once again beginning to move forward. This has been amply demonstrated by two recent major long-term contract awards and advances in other near-term prospects.

    "I am also encouraged by the strong institutional and shareholder support that has driven this fundraise at a premium to the mid-market price and I am pleased to welcome new institutional investment. I believe this fundraise further strengthens our ability to deliver on our growing pipeline of opportunities."

    Admission and Total Voting Rights

    Upon Admission, the Enlarged Share Capital and total voting rights will be 330,387,160 Ordinary Shares and the Placing Shares will represent approximately 13.3 per cent. of the Enlarged Share Capital. This figure may therefore be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the Enlarged Share Capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

    Application is being made for the 43,859,649 Placing Shares to be admitted to trading on AIM and it is anticipated that admission of the Placing Shares will occur at 8.00 a.m. on or around 23 June 2021.

    Settlement timetable for Placees
    Trade Date: 18 June 2021
    Settlement Date: 23 June 2021

    Capitalised terms not otherwise defined in this announcement shall have the same meaning ascribed to such terms in the announcement released yesterday unless the context requires otherwise.
     
  12. Groucho

    Groucho Member

    Messages:
    8,230
    Reputation:
    364
    Westminster Group (LON:WGS) – two big contracts mean this is undervalued

    It was very interesting to note that less than a week ago fund management group Janus Henderson picked up their stake in this specialist security services group to 5.41% of its equity.

    Of course, last week’s two items of important contract news make the shares look even more attractive.

    And following last Thursday evening’s quick £2.5m fundraising for 43.86m new shares @ 5.7p each, which was well oversubscribed, the group has sufficient funds in the bank to strengthen its ability to handle its growing opportunities.

    Understandably, this would have interested a number of small cap institutions to open up or increase their positions in the equity.

    Remember analyst Andrew Simms at Arden Partners is going for £15.7m of sales to end-December this year (£9.9m), turning it around from a £0.8m loss last year to a £0.9m adjusted pre-tax profit, worth 0.3p per share in earnings.

    Next year, he has forecast £23.7m sales and £5.3m profits, worth 1.6p per share in earnings. Allowing for the quick funding and subsequent equity dilution, he has dropped his ‘buy’ rating price objective from 19p to 18p.

    Considering that the shares closed on Friday night at just 5.6p they are still obviously a cracking ‘penny stock’ punt. I see them trading up through the 10p level this year.

    (Profile 17.03.21 @ 4.2p set a Target Price of 6p*)

    https://masterinvestor.co.uk/latest...group-and-more/amp/?__twitter_impression=true
     
  13. Groucho

    Groucho Member

    Messages:
    8,230
    Reputation:
    364
    24 June 2021

    Westminster Group Plc

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


    AGM Statement and Board Change


    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 (BST) at the offices of PKF Littlejohn LLP, 15 Westferry Circus, London, E14 4HD.



    Ahead of the AGM Westminster's Chief Executive Officer, Peter Fowler, has issued the following statement.

    "In our 2020 Annual Report issued on 30 April 2020 I was pleased to report that, despite the considerable challenges created by the Covid-19 global pandemic, we kept all our people safe, maintained our global operations, albeit some on reduced levels, and delivered some notable successes. Our revenues held up well considering the unprecedented challenges, largely due to the strength of our multiple revenue stream business model and the early actions taken by management.

    "The global uncertainty and travel restrictions did of course impact our business by delaying the signing and / or delivery of certain projects, such as the Palace of Westminster contract we secured in 2020 but which we were only able to commence operations in April 2021. As noted in the Company's 30 April 2021 announcement, these disruptions and delays continued into 2021, with travel restrictions still in place in many parts of the world, resulting in further 'right-shifting' of certain expected contracts and revenues, which have impacted H1 2021 financials. Despite this, we are pleased to re-confirm that, with the expected easing of restrictions, recently secured contracts and a strong pipeline, we still believe we can meet full year expectations at the revenue and PBT level.

    "Notwithstanding these challenges and the continuing global uncertainty, we remain excited about our future growth. We continue to pursue the many large-scale project opportunities we are developing around the world. There are encouraging signs that travel restrictions may at last be beginning to ease in a number of regions and that some of our delayed projects may once again begin to move forward.

    "In our 2020 Annual Report we stated one of our key goals for 2021 was to secure at least one more long-term managed services contract and in that respect, I am delighted that, with an easing of restrictions, we have not only been able to secure one, but two, significant new long-term contract wins.

    "In December 2020 we announced we were in the advanced stages of securing a long-term contract for 5 airports in an African country. We had been pursuing this opportunity since our acquisition of our French business Euro Ops in 2019 and we expected to secure this contract in 2020 but due to the various lockdowns and travel restrictions in place things were delayed. I was delighted therefore to be able to announce on 15 June that we had secured a 20-year manged services contract to provide security services to 5 airports in the Democratic Republic of the Congo ('DRC'), Central Africa. This was a very significant achievement and not only means we will now have an established presence in a new region of Africa but also the project offers substantial growth opportunities.

    "In addition, on 16 June I was delighted to announce that we had been awarded another long-term managed service contract to provide port screening services in West Africa. We had been pursuing and developing this opportunity for over two years and it is another important win for the Company that further extends our footprint and profile in the port screening sector.

    "Both of the important new contract wins above demonstrate, as we have stated on a number of occasions, that large-scale projects such as these do take time to develop and negotiate and equally demonstrate that we have the skills and resources required to successfully deliver on such opportunities. Together these two new contracts alone will add, once fully operational, several million-pound step changes to our annual revenues and together with our other managed services and recurring revenue contracts, underpin confidence in our future forecasts and growth.

    "As previously advised, we have established Westminster Arabia in the Kingdom of Saudi Arabia jointly with our partners Hazar International but have been delayed from finalising licences due to travel restrictions. I am pleased to report however that with some easing of restrictions we are now preparing to re-enter the Kingdom to finalise matters. This will be an important step in enabling us to formally bid on the many medium and large-scale opportunities we have been developing there.

    "In the UK our contract with the Palace of Westminster has commenced well and we are already looking at possible extensions to this project.

    "In addition to these important new contracts we are encouraged in the recovery and growth of our existing operations.

    "Our West African Airport managed services operation continues to be ahead of our expectations (currently 62% of pre-COVID levels) although we do not expect to see a full recovery to pre-Covid levels until 2022. It is encouraging however that this operation is recovering faster than the average African and European airport traffic.

    "Our port managed services operations in Ghana have not been materially affected by Covid-19 and continue to perform well. With a 4th berth due later in 2021, we expect to see further growth with this important project.

    "We continue to experience healthy enquiry levels and so far in 2021 have delivered products and services to over 40 countries around the world and we are beginning to see encouraging signs of recovery in our guarding and training businesses with recent new contract awards.

    "We continue to develop new opportunities and initiatives such as our partnership with Certific in their new Covid testing programme for which Westminster are providing verification services. Whilst it remains too early to judge the potential scale and impact of this initiative, we are encouraged by the increasing interest Certific are receiving for their services including from large scale event organisers.

    "As previously announced on 28 May 2021 Mr Charles Cattaneo will be leaving the Board today at the end of the Annual General Meeting. It is a pity he could not be with us today in person but on behalf of the Chairman and the rest of the Board I would like to thank him for his support and service to the Company and we wish him well for the future. We expect to update the market shortly on his replacement.

    "Also, as previously announced on 28 May 2021, our Non-Executive Director, Mr Mawuli Ababio, was appointed as Deputy Chairman of the Company. I am especially pleased to report that Mawuli was recently honoured by being Knighted by the French Ambassador in Ghana, on behalf of the President of France, Emmanuel Macron, at a ceremony held at the Residence of France in Accra, Ghana, on 17 June 2021. The ceremony was attended by a number of dignitaries including the President of Ghana and at which Mawuli was presented with France's 2nd highest award, the French National Order of Merit. On behalf of the Board and all at Westminster I would like to publicly congratulate him on this well-deserved award.

    "In the last few years, we have achieved a lot and it is rewarding to see the quality of our services and our many achievements being widely recognised. I am extremely proud that in April 2021 Westminster were granted the Queen's Award for Enterprise in recognition of outstanding achievement in international trade. The award ceremony and Westminster's open day will now take place at Westminster House on 3 September 2021. In November 2020 the London Stock Exchange selected Westminster as one of a 1,000 companies to inspire Britain and in May 2020 and again in April 2021 the UK Civil Aviation Authority (CAA) graded our aviation training business as 'Outstanding in all Areas'. These are all important accolades for our business and a testament to the skill and hard work of all our people."
     
  14. Groucho

    Groucho Member

    Messages:
    8,230
    Reputation:
    364
  15. Groucho

    Groucho Member

    Messages:
    8,230
    Reputation:
    364
    12 July 2021

    Westminster Group Plc

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


    New Contract Win - Tower of London


    Westminster Group Plc ('Westminster', the 'Group' or the 'Company'), the AIM listed supplier of managed security services and technology-based security solutions to governments and government agencies, non-governmental organisations (NGOs) and blue-chip commercial organisations worldwide, is pleased to announce that it has been awarded a contract to supply security services to help protect the historic Royal Palace and Fortress of the Tower of London.

    The Tower of London is a world-renowned iconic castle and World Heritage Site, built by William the Conqueror in 1078, and has served as a Royal Palace, fortress and prison over the centuries.

    Security of such a landmark building, which is open to the public, is paramount and Westminster has been contracted to provide inter alia, professional security services to the pedestrian and vehicular entrances. Further details on the scope of the contract will remain confidential.


    Commenting on the contract award, Westminster's Chief Executive, Peter Fowler, said:

    "I am delighted our services division has been awarded this important new contract to protect what is one of England's most prestigious buildings.

    "Following other significant contract wins such as the Palace of Westminster, home of the UK Parliament, and recent long-term multi-million-dollar contract wins in Central and West Africa, this latest contract award demonstrates we have the reputation, skills and resources to secure and deliver high profile contracts around the world."
     
  16. Groucho

    Groucho Member

    Messages:
    8,230
    Reputation:
    364
    13 August 2021

    Westminster Group Plc

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

    Interim Results for the six months to 30 June 2021

    & Investor Presentation


    Westminster Group Plc (AIM: WSG), a leading supplier of managed services and technology-based security solutions, announces its unaudited interim results for the six months ended 30 June 2021.


    Operational Highlights:

    · Secured 20-year managed services contract - 5 airports in the DRC.

    · Secured 10-year managed services contract - port in West Africa.

    · Post-period, secured high profile contract to provide security services to the Tower of London.

    · 5-year security contract for the Palace of Westminster (UK Parliament) underway.

    · Ghana port operations continue to perform well.

    · West African Airport operations recovering ahead of expectations.

    · Developed new Covid-19 testing programme initiative in partnership with Certific.

    · Aviation training business graded as 'Outstanding in all Areas' by UK Civil Aviation Authority.

    · Awarded Queen's Award for Enterprise in recognition of outstanding contribution to International Trade.


    Financial Highlights:

    · Group revenues up 16% from H2 2020 to £3.5 million (H1 2020: £7.0 million, H2 2020: £3.0 million).

    · Gross margin increased to 45% (H1 & H2 2020: 40%).

    · Operating Loss of £0.93 million (H1 2020: Profit £0.48 million, H2 2020 Loss £1.22 million).

    · Loss per share of 0.32p (H1 2020: Profit of 0.16p, H2 2020: Loss 0.59p).

    · Administration expenses slightly up at £2.5 million (H1 2020: £2.3 million, H2 2020: £2.4 million) as we increase selling capacity.

    · £2.5m equity raise completed in June 2021 for recently won and future projects.

    · Group debt free, excluding £0.05 million of imputed lease debt (30 June 2020: £3.37 million debt, 31 December 2020: £0.07 million lease debt).

    · Cash balance as at 30 June 2021: £3.1 million (30 June 2020: £1.6 million, 31 December 2020: £2.1 million).


    Commenting on the results and current trading, Peter Fowler, Chief Executive of Westminster Group, said:

    "In our 2020 Annual Report we stated the outlook for 2021 was looking positive and this remains the case.

    "Not only are we seeing recovery and growth in our existing operations, but we are developing new initiatives and revenue streams, such as the Covid-19 testing programme, and in recent weeks and months we have announced several significant new large-scale, long-term contract wins that will produce a several million-pound step change in our annual revenues, together all underpinning confidence in our business model and growth trajectory.

    "Covid-19 has, of course, continued to create challenges during the first half of 2021 with the global uncertainty causing many businesses and organisations to be cautious on their spending plans and with travel restrictions still in place in many parts of the world, resulting, as previously announced, in further 'right-shifting' of certain expected contracts and revenues. Because of this our first half year revenues are therefore down on H1 2020, which had record revenues for the first three months before the Covid-19 pandemic had any real impact. However, at £3.5m, H1 revenues are 16% ahead of the second half of 2020 (£3.0m) demonstrating recovery is underway and we believe that, providing the expected easing of restrictions and the resultant recovery continues, together with the recently secured contracts and our strong pipeline we are on track to deliver a strong performance for 2021 and we are confident in our future forecasts.

    "In the last few years, we have achieved a lot, despite the challenges, and it is rewarding to see the quality of our services and our many achievements being widely recognised. I am extremely proud therefore, that in April 2021, Westminster was granted the Queen's Award for Enterprise in recognition of outstanding achievement in international trade. The award ceremony and Westminster's open day will now take place at Westminster House on 3 September 2021. Shareholders who would like to attend may register their interest here www.wg-plc.com/queens-award-2021."


    Investor Presentation

    Westminster Group Plc is pleased to announce that Peter Fowler (CEO) and Mark Hughes (CFO) will provide a live presentation relating to Westminster Group PLC 2021 Half Year Results via the Investor Meet Company platform on 17th Aug 2021 at 11:00am BST.

    The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation.

    Investors can sign up to Investor Meet Company for free and add to meet Westminster Group Plc via:
    https://www.investormeetcompany.com/westminster-group-plc/register-investor
     
  17. Groucho

    Groucho Member

    Messages:
    8,230
    Reputation:
    364
  18. Groucho

    Groucho Member

    Messages:
    8,230
    Reputation:
    364
  19. Groucho

    Groucho Member

    Messages:
    8,230
    Reputation:
    364
    18 October 2021

    Westminster Group Plc

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

    Update on Reduction of Capital

    Westminster, the specialist security and services group operating worldwide via an extensive international network of agents and offices in over 50 countries (LSE:WSG), is pleased to provide an update on its proposed reduction of capital.

    Following the resolution passed at the Company's Annual General Meeting held on 24 June 2021 to approve, subject to the confirmation of the Court, a reduction of the Company's share capital, the Company has applied to the Court to approve the reduction of capital. As announced previously, the reduction of capital is being carried out in order to create distributable reserves and to eliminate the accumulated losses on the Company's profit and loss account.

    The initial directions hearing in relation to the reduction of capital took place on 15 October 2021, with the final hearing to approve the reduction of capital scheduled for 2 November 2021. Subject to the approval of the Court, the reduction of capital will become effective upon the registration of the Court Order with the Registrar of Companies, which is expected to take place on or around 3 November 2021.
     

Share This Page