18th Jun 2021 15:53
Westminster Group PLC - Banbury, Oxfordshire-based security and services - Raises GBP2.5 million through placing of 43.9 million shares at price of 5.7 pence each.
Price reflected a premium of 1.8% to company's closing price on Thursday at 5.60 pence.
Proceeds will go towards putting Westminster in a stronger position for next stage of development by providing working capital to support the delivery of recently secured contracts.
Arden Partners acted as sole broker.
"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," said Chief Executive Officer Peter Fowler.
Westminster now has 330.4 million shares issued overall.
Current stock price: 5.61 pence
Year-to-date change: up 35%
By Dayo Laniyan; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Westminster Group