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STM Group PLC - cross-border financial services provider - Sells Jersey-based trust and company services businesses for a minimum net cash consideration of GBP1.4 million. The sale completes the company's strategy to exit the trust and company services sector, and focus on its core activities of pension administration and life assurance. The sale proceeds will further contribute towards funding organic growth opportunities and build on the cash resources available for further mergers & acquisitions activity, STM Group says.
Current stock price: 31.70 pence, up 2.3% on Monday
Year-to-date change: up 5.7%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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