11th Jul 2025 12:53
(Alliance News) - Westminster Group PLC on Friday said it has secured a GBP500,000 credit facility from Pantheon A Family Office Ltd, a strategic investor and shareholder.
The Banbury, England-based specialist security and services company said the facility will provide it with a flexible financing option for short term financing to support its expansion and the delivery of new projects.
It said any funds drawn down will have a repayment term of six months and will not be interest bearing.
The credit facility is unsecured and has a one year term.
As part of the agreement, Westminster said it has revised the convertible loan note conversion price to 2 pence per share from 3p on the funds currently drawn.
It said this arrangement achieves a minimum annual interest saving of GBP100,000.
Pantheon currently has a 28% holding in the company and has a representative on Westminster's board, Jing Zhou.
"Pantheon is an extremely supportive investor in the business and this latest funding facility demonstrates their continued support and strong belief in the company and its future growth and success," said Westminster Chief Executive Officer Peter Fowler.
"To have a facility like this, effectively an interest free overdraft, available, if required, for short term use will be a great asset."
Shares in Westminster Group were flat at 2.60 pence in London on Friday afternoon.
By Michael Hennessey, Alliance News reporter
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