The group said the placing shares will be priced at
Westminster shares were trading at
Westminster said although it will primarily use the proceeds to fund ongoing expansion, it will also use it as a precautionary measure to mitigate any potential disruption to its cash flows should the current Ebola outbreak in
"Whilst serious disruption is currently not expected the board considers this placing to be a prudent measure in the best interests of the company and its shareholders," the company said in a statement.
Westminster said customer interest in its managed services division continues to grow with several sale prospects now reaching advanced stages.
"The majority of the company's near term pipeline of business relates to regions which are geographically very distant from the current Ebola outbreak and are therefore unlikely to be affected by it," it said.
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