10th May 2018 16:48
LONDON (Alliance News) - Shares fell in Westminster Group PLC on Thursday as it placed a major Middle East long-term project in Iran on hold following the US withdrawal from the Iran nuclear agreement.
Shares in the managed services and security solution supplier were down 24% at 13.99 pence at the close on Thursday.
On Tuesday, US President Donald Trump announced the US exit from the Iran nuclear deal as well as the reimposition of sanctions and other economic penalties upon Iran.
The group said the withdrawal has created uncertainty in the country and affects its project which is situated in one of Iran's airports.
The project has been put on hold to allow Westminster to assess the impact of the withdrawal and implications for its supply chain, including the replacement of certain equipment suppliers.
Westminster Group will publish its full year results on May 25.
Related Shares:
Westminster Group