Trading in the shares of Cosalt, the cash-strapped Lincolnshire based company which provides life jackets and safety harnesses for the oil and gas industry, has been suspended as it has missed the deadline for publishing its annual results for 2011. At the moment the group is preoccupied with talks with its Chairman David Ross and the group's pension trustees about a long-term financing solution that will provide sufficient working capital for the company to carry on trading.
Security systems provider Westminster Group has signed a 10-year franchise agreement with investors in Nigeria. The agreement is worth £1.7m in franchise fees over the 10-year period. The Westminster franchise in Nigeria will be fully supported by Westminster UK, with Westminster providing the Managing Director for the business. It is anticipated that there will be offices in several key cities and states in the near future with all the technical and administrative support services required, creating a strong presence throughout the country. This infrastructure will be funded by the franchisee.
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