Member Info for TenTrader10

Former STM shareholders - class action group being formed in light of Edmund Truell and his company Jambo SRC Limited (“Jambo”) having written to certain former shareholders stating that there is no deferred consideration payable in respect of the acquisition by Jambo of STM.

If you were a shareholder in STM Group plc at the time of the takeover by Jambo, you should have received a Deferred Consideration Unit (“DCU”) which would be satisfied by the issuance of loan notes worth up to seven pence per DCU held, redeemable in cash in October 2025, subject to certain conditions being satisfied. The former directors of STM, including Peter Smith (the STM appointed DCU representative approved by Jambo at the time), having taken legal advice, are unanimously of the view that such additional payment is properly due and payable in full.

A steering committee has been formed, comprising Peter Smith and some larger shareholders (including Alan Kentish, former CEO of STM), which is leading the establishment of an STM shareholder class action group. All larger STM shareholders have already been contacted and are supportive of the appropriate action.

In the event that Edmund Truell and his company, Jambo, refuse to acknowledge such payment is due, then a legal action will be needed to ensure that the legal terms of the takeover are properly honoured.

If you were a shareholder in STM, or know anyone who was a shareholder in STM, please contact STM[at]walbrookpr.com

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