Board Changes and Cost Optimisation Progress-WESTMINSTER GROUP PLC

Board Changes and Cost Optimisation Progress-WESTMINSTER GROUP PLC

Board Changes and Cost Optimisation Progress

Westminster Group Plc (AIM: WSG), a leading supplier of managed services and technology-based security solutions, announces the following board changes.

After several years' valuable service, Mr Mawuli Ababio will be stepping down from his role as Non-Executive Director at the conclusion of the Company's AGM on Wednesday 28 June 2023, in order spend more time on his other commitments. His will, however, remain available to advise the Company as part of Westminster's International Advisory Board, which he served on prior to joining the Board.

Also, at the conclusion of the AGM, the Company's Chairman, the Rt Hon. Sir Tony Baldry, will move from the position of Executive Chairman to Non-Executive Chairman.

The above changes will provide a balanced Board with three Executives and three Non-Executives and is in line with best corporate governance practices.

As noted in the Company's 2022 Annual Results, we achieved a greatly improved position and the Company is pleased to report it is now implementing cost optimisation measures to better streamline the business, with a view to improve profitability whilst maintaining maximum future growth potential.

Commenting on the changes, Westminster's Chairman, Rt Hon Sir Tony Baldry, said:

"I would like to express my and the Board's appreciation for Mawuli's dedication and hard work over the past few years. He has made a positive contribution to the Group and is a valued board member. I am delighted therefore that he will remain with us as part of our Advisory Board.

"Equally I am happy to assume the role of Non-Executive Chairman as part of our cost optimisation programme, and in line with best corporate governance practices, and look forward to continuing to assist Westminster in delivering on its exciting growth potential."

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