Westminster Group (LON:WSG) confirmed H Jamal as holding 4 million shares in the company, which translates into a 16.49% stake. The investment of £1 million by Jamal to acquire the 16.49% stake was announced in late October, when he was referred to as a 'high net worth investor'.
The company then issued 4 million shares at 25 pence per share, at a premium to the share price at the time.
Westminster's principal activity is the design, supply and ongoing support of advanced technology security solutions, risk assessments and close protection services worldwide.
These can range from product only assignments, such as the supply of specialised scanners, to the design and implementation of an integrated system solution such as a border detection and surveillance system. The majority of its customer base, by value, comprises governments and government agencies, non-governmental organisations and blue chip commercial organisations.
Back in September, Westminster reported its interim results.
Revenues remained at the same level, with the company reporting £2.35 million compared to £2.37 million in the previous first half.
However, the group said that its financial results did not fully reflect the improvements in its performance, noting that enquiry activity has significantly increased both in quantity and quality.
Westminster responded to 2,037 enquiries during the first half of 2010, an increase of 143% over the first half of 2009, which it said underpinned its confidence in its growth prospects.
“We are working hard to now convert these enquiries into firm orders and revenue,” chief executive Peter Fowler said then.