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Westminster Group
- BY: Andrew Hore |
- POSTED: 30/04/2012 |
Security systems and products supplier Westminster Group says that Easthope Ltd, an investor with West African interests, subscribed for £500,000 in shares at 17p each.
That is a 9% stake. At 20.25p a share, up 2.75p, Westminster is valued at £6m.
As ever with Westminster, the cash is required for working capital to finance contract wins. In 2011, revenues grew by 260% to £10m. This also represents a significant increase on the £7.95m generated in 2009.
Westminster has commenced its $150m contract with a West African airport. Higher than expected passenger numbers mean that the $150m figure
The 2011 figures will be published on 31 May.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFApril2012_31.pdf
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