Last checked at 4 Jul 2014 07:00
4 July 2014
STM Group Plc
("STM", "the Company" or "the Group")
Directors' Dealings / Holdings in Company
STM Group Plc (AIM: STM), the multi-jurisdictional financial services group, is pleased to announce the acquisition of ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares") by certain directors.
Nigel Green, a substantial shareholder in STM, on 3 July 2014 sold 6,764,191 Ordinary Shares (the "Sale Shares") as part of his long term strategy now that STM has fully developed robust processes and administration services within its pensions business. Mr. Green now holds 5,317,931 ordinary shares, representing 9.95% of the issued share capital of STM.
The Sale Shares sold by Mr. Green have been acquired by certain directors and existing shareholders of STM and other investors.
The following directors on 3 July 2014 purchased certain of the Sale Shares, all at a price of 18 pence per Ordinary Share, as per the table below:
Director | No. of Sale Shares acquired | Total Value | Resulting Ordinary Shares held | % of issued share capital of STM |
Alan Kentish | 1,666,667 | £300,000 | 4,868,817 | 9.11% |
Colin Porter | 200,000 | £36,000 | 1,471,113 | 2.75% |
Julian Telling | 138,889 | £25,000 | 223,889 | 0.42% |
Therese Neish | 250,000 | £45,000 | 322,556 | 0.60% |
Arron Banks, who, together with his related companies, is a substantial existing shareholder in STM, on 3 July 2014 acquired 3,494,747 Sale Shares, subject to regulatory approval. His resulting holding is 8,745,262 Ordinary Shares representing 16.36% of the issued share capital of STM.
Commenting on the transactions, Colin Porter, Chief Executive of STM, said:
"Nigel Green's significant investment in STM some two years ago was timely and allowed STM the resources to develop and implement a growth strategy in the pensions administration market and in niche markets for its own life assurance company, STM Life. Today we are proud to be able to say that we offer one of the best administration services and product ranges in the expatriate marketplace to our ever expanding intermediary base.
"STM is now in a stronger position than ever to exploit the opportunities emerging in the international financial services market. Our strategy of driving business development and product innovation continues to build momentum. Nigel Green has been a keen supporter of our organisation and we are pleased that he remains part of our loyal shareholder base. The fact that certain directors have purchased some of these shares demonstrates the confidence of the Board in the prospects of the business."
Nigel Green, strategic investor in STM and Chief Executive of deVere Group, added:
"I took a strategic stake in STM to provide additional resources so that it could develop robust systems to enable it to offer the best QROPS administration in the market, to reduce costs and to increase efficiency, for the benefit of our clients who sought their products.
"As these objectives have now been achieved, the next stage of the original, long-term considered strategy was the sale of the majority of my shares. This has been completed today.
"Whilst I still consider shares in STM, a truly market-leading financial products provider, to be an excellent investment opportunity, my main focus is and always has been the development of deVere Group."
For further information, please contact:
STM Group Plc | www.stmgroupplc.com |
Colin Porter, Chief Executive Officer colin.porter@stmgroupplc.com | Tel: 00 350 200 42686
|
Alan Kentish, Director of Business and Product Development alan.kentish@stmgroupplc.com | Tel: 00 350 200 78614
|
Therese Neish, Chief Financial Officer Therese.neish@stmgroupplc.com | Tel: 00 350 200 78614 |
finnCap | www.finncap.com |
Charlotte Stranner / Christopher Raggett - Corporate Finance Mia Gardner - Corporate Broking | Tel: +44 (0) 20 7220 0500 |
Winningtons | www.winningtons.co.uk |
Tom Cooper / Paul Vann | Tel: +44 (0) 20 3176 4722 |
| Mob: +44 (0) 797 122 1972 |
tom.cooper@winningtons.co.uk |
Notes to editors:
STM is a multi jurisdictional 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.
Today, STM has operations in Gibraltar, Spain, Jersey, Malta and Cyprus. The Group is looking to expand through the development of additional products and services that its ever more sophisticated clients demand. 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 Qualifying Recognised Overseas Pension Schemes (QROPS), Qualifying Non UK Pension Schemes (QNUPS) and Employer Funded Retirement Benefit Schemes (EFRBS).
Further information on STM Group can be found at www.stmgroupplc.com