AIM quoted security specialist Westminster Group PLC (LON:WSG) has issued around 1.6mln shares after Darwin Capital converted £175,000 of loan notes.
As revealed in February this year, the security group inked a deal with Darwin over convertible notes worth £475,000 to fund development of its pipeline of commercial activities.
On this loan, Westminster now has £250,000 outstanding and in total including a loan drawn down in April last year, the balance owed to Darwin has now been reduced to £700,000.
It’s been a busy 2016 for the firm so far and it has said trading has been encouraging.
In January it signed an MoU for several international airports within an unnamed country and in February its technology business inked a memorandum of understanding (MoU) for a 20-year border security project in the Middle East.
In March it agreed terms for a possible new 25-year contract to run securityoperations at an airport in the Middle East and said its keenly anticipated ferry service in Sierra Leone should launch in April.