StockMarketWire.com - Westminster Group confirms the issue of 1.6m shares of 10p each pursuant to the conversion of GBP175,000 of loan notes by Darwin Capital Ltd.

This was a conversion into equity of the zero coupon senior unsecured convertible loan notes which were detailed in the announcement dated 22 February 2016.

The balance outstanding on this loan is now GBP250,000 and in aggregate with the loan drawn down on 22 April 2015 the balance with Darwin is reduced to GBP700,000.

The conversion price is 10.925532 pence; calculated as the lessor of i) 39 pence and ii) 90% of the arithmetic average of the five lowest daily volume weighted average share price calculations per ordinary share out of the ten trading days prior to conversion.

Application will be made for the Conversion Shares, which will rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading on AIM. It is expected that admission will become effective and that trading in the Conversion Shares will commence on or around 7 April 2016 ('Admission').






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