Last checked at 6 Oct 2010 10:45
| Press Release | 6 October 2010 |
STM Group Plc
("STM" or the "Company")
Issue of Equity / Director Shareholding
STM Group Plc (AIM:STM), the cross border financial services provider, today announces that 32,609 new ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") have been issued to Mr Bernard Gallagher, the Company's Non-Executive Chairman, in payment of his Chairman's fees for the quarter commencing on 1 October 2010. Mr Gallagher elected to receive payment of his Chairman's fees in shares since he became Non-Executive Chairman in 2007 as a mark of confidence in the Company and to align himself with shareholders.
The number of new Ordinary Shares issued is based upon the share price of 23 pence per Ordinary Share, being the average closing mid-market price per Ordinary Share in the five trading days ending on the day prior to the relevant quarter end date.
Following this issue, the total number of Ordinary Shares in issue is 43,026,602and Mr Gallagher's total shareholding in the Company will be 590,348 Ordinary Shares, representing 1.4 per cent of the issued share capital of the Company. All of these Ordinary Shares are held by STM Fidecs Nominees Limited.
An application to AIM will be made for the new Ordinary Shares to be admitted and trading is expected to take place on 8 October 2010.
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For further information, please contact:
| STM Group Plc |
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| Colin Porter, Chief Executive Officer colin.porter@stmgroupplc.im | Tel: 00 350 200 42686 www.stmgroupplc.com |
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| Alan Kentish, Chief Financial Officer alan.kentish@stmgroupplc.im | Tel: 00 350 200 78614
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| Evolution Securities | Tel: +44 (0) 20 7071 4300 |
| Jeremy Ellis / Chris Clarke | www.evosecurities.com |
| FinnCap | Tel: +44 (0)20 7600 1658 |
| Tom Jenkins / Marc Young | www.finncap.com |
Media enquiries:
| Abchurch |
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| 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 BVI. 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 recent 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