Growing security and services firm Westminster Group PLC (LON:WSG) now has no loan notes outstanding under its agreement with Darwin, after the latter made a final conversion to the tune of £210,000.
As previously reported, the AIM group inked the deal with Darwin over the notes worth £475,000 to fund development of its pipeline of commercial activities in February this year.
Westminster issued 1.6mln shares to Darwin and are no amounts outstanding thus this source of shares has been removed from the market, it said today.
Last month, the firm said it was upbeat about its growth prospects and reported a "significantly" improved performance in the first six months of the year.
Improved performance in both the managed services and the technology division has led the group to reach close to EBITDA break-even in the first half as the airport security operations benefit from a recovery in passenger traffic as the Ebola crisis is put in the past.
Westminster shares are up almost 6% to 16.15p at the time of writing.