Directorate Change

RNS Number : 2346U
Westminster Group PLC
21 November 2019
 

21 November 2019

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014

 

 

Westminster Group Plc

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

Non-Executive Director Appointment

 

 

Westminster Group Plc (AIM: WSG), the AIM listed supplier of managed security services and technology-based security solutions to governments and government agencies, non-governmental organisations (NGO's) and blue-chip commercial organisations worldwide, is pleased to announce the appointment of Mr John Maynard Mawuli Ababio to the Board as a Non-Executive Director with immediate effect.

 

Mr Mawuli Ababio, aged 60, is an accomplished Corporate Financier/Investment Banker with over 30 years' experience in structuring private equity and project financing transactions in Africa.

 

Mawuli began his career in 1984 in Geneva, Switzerland as an analyst with SIFIDA Investment Company (now BNP Paribas SIFIDA), with responsibility for the company's portfolio in North, East and Southern Africa. In 1991 he joined the African Development Bank (AfDB) in Abidjan, Cote d'Ivoire as a member of the pioneering team to set up the Bank's Private Sector Department. In 1994 he moved to Ghana as Manager of one of the UK Commonwealth Development Corporation (CDC) first ever sponsored African SME Funds.

 

In 2000 he co-founded Faith Brothers Ltd, Ghana, as an investment holding company and subsequently acquired Citi Savings and Loans Ltd. a leading micro-finance company in Ghana. This latter company was subsequently converted into Intercontinental Bank Ghana Limited and eventually acquired by Access Bank plc of Nigeria.

 

Between 2005 and 2007, Mawuli consulted with PwC France for Pro-Invest an EU funded initiative aimed at setting up VC/PE firms to fund the SME space in Francophone Africa. In 2007 he moved to Johannesburg as Managing Director of the Africa Venture Capital Association (AVCA), the industry body for African Private Equity. In 2010, he joined PCM Capital Partners (PCP) to advise on setting up the West Africa Emerging Markets Growth Fund (WAEMGF), a regional PE investment vehicle whose LP investors include the AfDB and South Africa's Private Investment Corporation (PIC).

 

Since 2012, Mawuli has been the Vice-Chairman/Managing Partner of PCM Capital Advisors a regional private equity fund with a diversified investment portfolio in several countries in the West Africa sub-region.

 

Mawuli has extensive board and corporate governance experience having served on several listed and unlisted boards over the last 20 years, both as an Executive and Non-Executive Director. He is bilingual, speaking fluent English and French.

 

Mawuli is well known to the Company having served on the Westminster Advisory Board for a number of years and his move to the Main Board follows the sad passing of Sir Malcolm Ross as announced on 28 October 2019. In addition to his appointment as Non-Executive Director he is also being appointed to the Board of Westminster's subsidiary, Westminster International (Ghana) Ltd.  

 

Mawuli will be taking the Chair of the Remuneration Committee and will be a member of the Audit, Risk, Disclosure and Nomination Committees.

 

Commenting on Mawuli's appointment, Westminster's Chairman, Sir Tony Baldry, said:

 

"We are delighted that Mawuli is now joining us on the main board.

 

"Not only does he bring additional corporate financing skills and diversity to the Board, but his knowledge and experience of African affairs will be invaluable. Given our recent announcements regarding our Tema project, which we continue to successfully operate and receive revenues, I am equally delighted Mawuli will be on the Board of our new subsidiary, Westminster International (Ghana) Ltd. providing oversight and corporate governance to what we expect to be an important and growing part of our business."

 

Commenting on his appointment Mawuli Ababio added:

 

"I am pleased to be joining the Westminster Group at this time, albeit through sad circumstances.

 

"I am aware of the many exciting opportunities the Group are developing, particularly in Africa, and I am confident that as a full member of the PLC board and of the Ghana subsidiary, I will now be in a much better position and able to devote more time in assisting the Group develop and grow its business throughout Africa and beyond."

 

The following details in relation to the appointment of John Maynard Mawuli Ababio are disclosed in accordance with Schedule 2(g) of the AIM Rules:

 

Current directorships

Past directorships held within the last five years

Total Petroleum Ghana Ltd

Gold Fields Ghana Ltd

Abosso Goldfields Ltd, Ghana

PCM Capital Partners, Mauritius

Mobus Properties Limited, Ghana

Osu Presbyterian Preparatory School

Atlantic Float Glass Ltd

Leasafric Ghana Ltd

 

Azalai Hotels Group, Mali

Intrepid Asset Management Ltd

Auctus Solutions Ltd

Bullion Securities Ltd

Bullion Investment Group

The Chamber of Commerce and Industry of France in Ghana

Alliance Francaise Accra

Cirrus Oil Services Ltd, Ghana

Pinnacle Group

Surfline Communications Ltd, Ghana

P J Greene Limited

 

 

 

 

               

There are no other disclosures in accordance with Schedule 2(g) of the AIM Rules.

 

For further information please contact:

 

Westminster Group Plc

Media enquiries via Walbrook PR

Rt. Hon. Sir Tony Baldry - Chairman

 

Peter Fowler - Chief Executive Officer

 

Mark Hughes - Chief Financial Officer

 

 

 

S. P. Angel Corporate Finance LLP (NOMAD & Broker)

 

Stuart Gledhill

020 3470 0470

Caroline Rowe

 

 

 

Walbrook (Investor Relations)

 

Tom Cooper

020 7933 8780

Paul Vann

0797 122 1972

 

tom.cooper@walbrookpr.com

 

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, 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.

 

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
BOAFFLFLKFFFFBV
UK 100

Latest directors dealings