Last checked at 12 Jan 2010 15:39
| Press Release | 12 January 2010 |
STM Group Plc
("STM" or "the Company")
Issue of Equity/Director PDMR Shareholding
STM Group Plc (AIM:STM), the cross border financial services provider, today announces that 28,302 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 January 2010 and a further 9,434 new Ordinary Shares have been issued pursuant to an employment contract. As a result a total of 37,736 new Ordinary Shares have been issued. The number of new Ordinary Shares issued is based upon the share price of 26.5 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 42,930,357 and Mr Gallagher's total shareholding in the Company will be 494,103 Ordinary Shares, representing 1.15 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 18 January 2010.
- 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 | |
| Henry Harrison-Topham / George Parker | Tel: +44 (0) 20 7398 7719 |
| 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. In July 2009 STM announced the acquisition of The Citadel Group of Companies based in Luxembourg subject to regulatory approval. For the year ending, 31 December 2008, STM Group reported revenue of £9.19 million with pre tax profit of £2.84 million and for the six months to 30 June 2009 STM the reported revenue was £4.13m with pre-tax profits of £0.18 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