Stm Grp. Regulatory News (STM)

19 Mar 2008 07:00

STM Group PLC19 March 2008 Press Release 19 March 2008 STM Group Plc ("STM", "the Company" or "the Group") Issue of Equity Directors Dealings PDMR STM Group Plc (AIM:STM), the cross border financial services provider, is todaypleased to announce that 4,705,088 new ordinary shares of 0.1 pence each ('NewOrdinary Shares') have been placed with institutional and other investors at aprice of 60 pence per Ordinary Share, raising gross proceeds of £2,823,052.80before expenses (the 'Placing'). Following the Placing, STM's issued sharecapital comprises 42,258,000 shares of common stock of par value 0.1 pence each.All of these New Ordinary Shares carry voting rights. As part of the Placing, Bernard Gallagher, Non-Executive Chairman, purchased83,334 New Ordinary Shares in the Company at a price of 60 pence per OrdinaryShare. Following this purchase, Mr Gallagher's total shareholding in theCompany will be 354,073 Ordinary Shares, representing 0.8 per cent. of theissued share capital of the Company. Application has been made for the New Ordinary Shares to be admitted to tradingon the AIM market of London Stock Exchange plc and dealings are expected tocommence on 27 March 2008. The shares will rank pari passu with existing sharesin issue. - Ends - For further information, please contact:STM Group PlcTim Revill, Chief Executive Officer Tel: 00 350 51610tim.revill@stmgroupplc.im www.stmgroupplc.com Daniel Stewart & Company Plc Tel: +44 (0) 20 7776 6550Lindsay Mair / Stewart Dick www.danielstewart.co.uk Media enquiries:AbchurchHenry Harrison-Topham / Charlie Jack Tel: +44 (0) 20 7398 7706henry.ht@abchurch-group.com www.abchurch-group.com Notes to editors STM was formed in 2007 specifically to become a leading financial services groupoperating in the Corporate and Trustee Service Provider (CTSP) sector. TheCompany listed on the AIM market of the London Stock Exchange in March 2007.The traditional business of CTSPs is to administer and manage personal, familyand commercial assets and income streams in tax efficient jurisdictions. TheCompany's aim is to grow through acquiring and consolidating high qualityexisting CTSPs which offer complementary products and services and that operatein complementary tax efficient jurisdictions to those provided by STM's firstacquisition, the Gibraltar based CTSP, Fidecs Group ("Fidecs"). Fidecs is the second largest financial services firm in Gibraltar and employsapproximately 90 people. It specialises in financial planning for both High NetWorth individuals ("HNWI") moving to work, living or retiring overseas or makingcross-border investments, and for entrepreneurial, predominantly, owner-managedbusinesses, 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 formedinsurance companies operating out of Gibraltar. In the maiden period from 1 February 2007 to 31 December 2007 (in which therewere nine months of trading), STM Group reported turnover of £5.3 million withpost tax profit of £1.65 million. In June and August 2007, STM acquired two Gibraltar based CTS providers, theAtlas Group of companies and Parliament Corporate Services Limited. These twoacquisitions further consolidated STM's leading position in Gibraltar.Parliament has an established client base which, as at 31 December 2007, wasmade up of 272 companies and 112 trusts and Atlas 65 companies and 30 trusts.In December 2007, STM made its first strategic acquisition within the ChannelIslands when it acquired Jersey-based Compagnie Fiduciaire Trustees Limitedwhich comprised 23 trusts, holding in some cases sizeable investment portfolios. The CTSP market is fragmented in nature, comprising a small number of very largeinternational financial services groups and a large number of relatively smalltrust and company management businesses regulated by, and operating out of, asingle jurisdiction. Further information on STM Group can be found at www.stmgroupplc.com This information is provided by RNS The company news service from the London Stock Exchange