IN BRIEF: STM updates on takeover and Pathlines buy of SIPPS firms

STM Group PLC - London-based cross-border financial services provider, operating in the UK, Gibraltar, Malta, Spain and Australia - Announces that the UK Financial Conduct Authority has approved the regulatory change of control applications made by Pathlines Holdings Ltd over the latter's acquisition of self-invested personal pension companies. Says the acquisition remains subject to the satisfaction or waiver of other conditions, including regulatory conditions. Also notes Jambo SRC Ltd has submitted regulatory change of control applications to the Gibraltar Financial Services Commission and the Malta Financial Services Authority over its acquisition of STM. Says these applications continue to progress. In December, STM shareholders voted in favour of the takeover, with the company expecting it would become effective in the second quarter of 2024.

Current stock price: 56.10 pence, down 2.4%

12-month change: Doubled

By Greg Rosenvinge, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.