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.