02 June 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 ("MAR") WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN

Westminster Group Plc

('Westminster', the 'Group' or the 'Company')

Gabon Contract Update - Commencement of Services 

and Grant of share options under the 2017 Share Option Scheme

Westminster Group Plc (AIM: WSG), a leading supplier of managed services and technology-based security solutions worldwide, is pleased to provide an update on its recently announced multi-million £ contract regarding the provision of airport security services at 4 Airports in the Gabonese Republic (Gabon).

The Company announced on 4 March 2025 that it had signed a 15+ year contract with the Gabonese Ministry of Transport to provide comprehensive ground security operations at three international airports and one domestic airport within Gabon.

The contract included a 90-day transition period to allow for operational planning and deployment processes which have been completed, and formal operations have now commenced.

Under the contract, Westminster will provide the investment and expertise required to upgrade security at the airports. This not only includes the provision of advanced detection, surveillance, and screening equipment, but also the maintenance, training and various support services required to ensure airport security at these four airports is run to the highest international standards. Thereby assisting the authorities develop and maintain world-class airport security services, opening up the potential for growth in air traffic by attracting new international carriers and commercial enterprises to the region.

The contract is based on Westminster's managed services model successfully deployed elsewhere in Africa. Revenues will be driven by embarking passenger numbers using the airports and funded by a per passenger fee, denominated in USD, collected through the ticketing system and payable directly to Westminster by the airlines or a suitable collection agency such as the International Air Transport Association ('IATA'). Based on current embarking passenger levels the contract is expected to generate revenues of circa US$5.5m in the first 12 months of operation.

Commenting on the development, Westminster's Chief Executive Officer, Peter Fowler, said:

"I am pleased all the required transition services were completed and that formal operations regarding this important new contract have now commenced on time, which is a testament to the hard work and professionalism of the Westminster team deployed on site.

"This latest long-term managed services security contract in Francophone Africa adds four more airports, Libreville, Franceville, Port-Gentil & Oyem, to our growing portfolio of airport operations around the world and I look forward to Westminster having a long-term presence in Gabon and in playing our part in the successful growth and security of the country's airports."

Grant of Share Options:

The Company also announces it has granted a total of 13,700,000 share options over ordinary shares of 0.1p each ("Ordinary Shares") in the Company with an exercise price of 2.05p pence per Ordinary Share (being the closing middle market price of an Ordinary Share on 30 May 2025). The new share options have been awarded under the Company's 2017 Share Option Scheme to the Directors listed below, plus key employees (together, the "Share Options").

Each award (regardless of whether it was granted as an Enterprise Management Incentive (EMI) award or a non-tax advantaged 'unapproved' award) will, save for a change of control in the Company, ordinarily become exercisable on the first anniversary of grant, subject to satisfaction of the vesting conditions and the grantee's continued service with the Company, and will be exercisable at any point up until the tenth anniversary of the date of grant.

Vesting is subject to the Company's share price being at 3.075p or above at close of business on any 5 consecutive trading days after the date of grant, which represents a 50% increase over the exercise price. No consideration was paid by the option holders in respect of the grant of their awards.

The Company has not awarded any standard annual grant of options to Directors, PDMRs or employees since January 2023.

The Share Options have been granted to Directors (and persons closely associated with them) of the Company as follows:

The remaining 5,550,000 Share Options have been granted to 34 key employees.

Share Options in issue

Following the grant of the Share Options and lapsed options from leavers etc., there is a total of 30,315,000 director and employee share options outstanding, representing approximately 6.72% of the current issued share capital of the Company.

The notification below, made in accordance with the requirements of the Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

For further information please contact:

 Notes:

Westminster Group plc is a specialist security and services group operating worldwide via an extensive international network of agents and offices in over 50 countries.

Westminster's principal activity is the design, supply and ongoing support of advanced technology security solutions, encompassing a wide range of surveillance, detection (including Fever Detection), tracking and interception technologies and the provision of long-term managed services contracts such as the management and running of complete security services and solutions in airports, ports and other such facilities together with the provision of manpower, consultancy and training services. The majority of its customer base, by value, comprises governments and government agencies, non-governmental organisations (NGO's) and blue-chip commercial organisations.

The Westminster Group Foundation is part of the Group's Corporate Social Responsibility activities. www.wg-foundation.org

The Foundation's goal is to support the communities in which the Group operates by working with local partners and other established charities to provide goods or services for the relief of poverty and the advancement of education and healthcare particularly in the developing world.

The Westminster Group Foundation is a Charitable Incorporated Organisation, CIO, registered with the Charities Commission number 1158653.