Last checked at 27 Sep 2011 11:30
Press Release | 27 September 2011 |
STM Group Plc
("STM" or the "Group")
Change of director
STM Group Plc (AIM:STM), the cross border financial services provider, announces that on the 26 September 2011, Matt Wood resigned as a non-executive director of the Group in order to concentrate on his other business interests.
Julian Telling, Non-executive Chairman of STM, commented:
"The Board is immensely grateful for the instrumental role that Matt played in the creation and flotation of STM over the last 5 years and for his input into all plc-related matters of the Group. We are saddened by his decision but understand his reasoning and we wish him well in all his future endeavors".
Matt Wood added:
"With the recent new additions to the Board, the Group's international presence having now been established in Gibraltar, Spain, Jersey and Malta, and the Group's focus firmly on developing new products and distribution channels, it is time for me to concentrate on my other corporate finance related interests. There is a significant opportunity for STM to become a key player in the international wealth sector, especially with its international pension products and the growth of STM Life and I am looking forward to following the Group's continued success."
- Ends -
For further information, please contact:
STM Group Plc | |
Colin Porter, Chief Executive Officer colin.porter@stmgroupplc.im | Tel: 00 350 200 42686 www.stmgroupplc.com |
Alan Kentish, Chief Financial Officer alan.kentish@stmgroupplc.im | Tel: 00 350 200 78614
|
FinnCap | Tel: +44 (0)20 7600 1658 |
Marc Young / Christopher Raggett - Corporate Finance | www.finncap.com |
Simon Starr - Corporate Broking |
Media enquiries:
Abchurch | |
Henry Harrison-Topham / Mark Dixon | Tel: +44 (0) 20 7398 7702 |
henry.ht@abchurch-group.com | www.abchurch-group.com |
Notes to editors:
STM is an international financial services group which is listed on the AIM Market of the London Stock Exchange and made its first acquisition in 2007. The Group specialises in estate and succession planning and wealth structuring for high net worth individuals and their families. STM's clients include entrepreneurs, celebrities, sports stars and affluent retirees.
STM's strategy is to grow organically and by acquisition, in particular looking for businesses and jurisdictions which provide a complimentary offering to the Group. Today, STM has operations in Gibraltar, Spain, Jersey, Switzerland and Malta. The Group is also looking to expand through the development of additional products and services that its ever more sophisticated clients demand.
In order to achieve this, STM has, for example, incorporated a Gibraltar Life Insurance Company, STM Life plc, which provides life insurance bonds - wrappers in which a variety of investments - including investment funds - can be held. STM has developed a specialist international pensions division which specialises in QROPS, QNUPS and EFRBS. The growth in Jersey, through the acquisition of Zenith, has coincided with the introduction of the Jersey Foundation legislation which has resulted in a growing number of enquiries and resultant business.
Further information on STM Group can be found at www.stmgroupplc.com