Last checked at 19 May 2009 11:58
| Press Release | 19 May 2009 |
STM Group plc ("the Company")
Holding in Company
The Company was notified that on 15 May 2009 Hearth Investments Ltd ("Hearth"), an entity of which Tim Revill, a Director of the Company, is a potential beneficiary, had transferred 7,600,000 ordinary shares of 0.1p each in the Company ("Ordinary Shares") from JIM Nominees into its own name. Following this transfer, Hearth is interested in 7,600,000 Ordinary Shares, representing 17.8 per cent. of the current issued share capital of the Company.
- Ends -
For further information, please contact:
| STM Group Plc | |
| Tim Revill, Chief Executive Officer | Tel: 00 350 200 51610 |
| tim.revill@stmgroupplc.im | www.stmgroupplc.com |
| Evolution Securities | Tel: +44 (0) 20 7071 4300 |
| Jeremy Ellis / Chris Clarke | www.evosecurities.com |
Media enquiries:
| Abchurch | |
| Charlie Jack / George Parker | Tel: +44 (0) 20 7398 7706 |
| george.parker@abchurch-group.com | www.abchurch-group.com |
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