Westminster Group Plc (‘Westminster’, the ‘Company’ or the ‘Group’), the AIM listed supplier of managed services and technology based security solutions to governments and government agencies, non-governmental organisations (NGO’s) and blue chip commercial organisations worldwide, is pleased to announce that it yesterday signed agreements for the issue of convertible loan notes to raise £2.319m before costs by way of two separate instruments as detailed below.

The proceeds are for general balance sheet strength and will support ongoing costs and business development, particularly around the expansion of the Managed Services division.

The flexible structure of this financing allows the Group (subject to any CULN conversion rights with agreed limitations defined and summarised below) to make repayments, for example, from organic cash flows from larger contracts, both potential new and existing such as the US$4.4m America’s contract which we anticipate will be concluded in 2015 with first cash receipts now anticipated to commence in Q2 2015.

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