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Westminster Group shares tank after article mix-up
(Sharecast News) - Managed services and security solutions company Westminster Group put out a statement on Thursday addressing a sell-off in its stock, which it linked to a mix-up regarding an article about a political entity. The company referenced an article about a cross-party political group being shut down over links to a state-owned Israeli arms company.
According to a story from Declassified UK published on Monday, an All-Party Parliamentary Group on Defence Technology pulled its website after it was revealed that it accepted cash from a defence firm linked to the Israeli government.
The title of the article read: 'Westminster group shut down over Israel funding'.
The group in question has "nothing to do with the company", AIM-listed Westminster Group said in a statement to the market.
"Furthermore, the company understands that there is also speculation about the status of the passenger security fee in Gabon - for clarification a decree has been issued putting this passenger security fee into Gabonese law stipulating it to be collected by Westminster."
Shares were down 23% at 1.7p by 1241 BST.
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