Stm Grp. Regulatory News (STM)

15 Jul 2009 07:00



STM Group Plc

("STM", "the Company" or "the Group")

Directors Dealing

The Company was yesterday notified by Tim Revill, a director of the Company, of the following market purchases of ordinary shares of 0.1p each in the Company ("Ordinary Shares") by Mr Revill, which are to be registered in the name of Jim Nominees Limited:

* Hearth Investments Ltd, an entity of which Tim Revill is a potential beneficiary, is interested in 7,600,000 Ordinary Shares, representing 17.8 per cent. of the current issued share capital of the Company. 

- Ends - 

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Notes to editors

STM was formed in 2007 specifically to become a leading financial services group operating in the Corporate and Trustee Service Provider (CTSP) sector. The Company listed on the AIM market of the London Stock Exchange in March 2007. The traditional business of CTSPs is to administer and manage personal, family and commercial assets and income streams in tax efficient jurisdictions. The Company's aim is to grow through acquiring and consolidating high quality existing CTSPs which offer complementary products and services and that operate in complementary tax efficient jurisdictions to those provided by STM's first acquisition, the Gibraltar based CTSP, Fidecs Group Limited ("Fidecs"). 

Fidecs is the second largest financial services firm in Gibraltar and employs over 101 people. It specialises in financial planning for both High Net Worth individuals ("HNWI") moving to work, living or retiring overseas or making cross-border investments, and for entrepreneurial, predominantly, owner-managed businesses, expanding into or re-locating to other, frequently lower tax, jurisdictions. It also includes an insurance management division, specialising in providing set up and management services to newly formed insurance companies operating out of Gibraltar.

In June and August 2007 STM acquired two Gibraltar based CTS providers, the Atlas Group of companies and Parliament Corporate Services Limited. These two acquisitions further consolidated STM's leading position in Gibraltar. The Group expanded into the Channel Islands in December 2007, with the purchase of Compagnie Fiduciaire Trustees Limited. In June 2008, STM increased its presence in the Channel Islands with the acquisition of St George Financial Services Limited. For the year ending, 31 December 2008, STM Group reported revenue of £9.19 million with pre tax profit of £2.84 million. 

The CTSP market is fragmented in nature, comprising a small number of very large international financial services groups and a large number of relatively small trust and company management businesses regulated by, and operating out of, a single jurisdiction. 

Further information on STM Group can be found at www.stmgroupplc.com