Issue of Equity / Director Sh

RNS Number : 6344J

STM Group PLC

01 April 2010

 



Press Release

1 April 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  30,303 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 April 2010 . The number of new Ordinary Shares issued is based upon the share price of 24.75pence 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 42,960,660 and Mr Gallagher's total shareholding in the Company will be 524,406 Ordinary Shares, representing 1.22 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 9 April 2010.

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For further information, please contact:

STM Group Plc
Colin Porter, Chief Executive Officer [e-mail]	Tel: [phone] www.stmgroupplc.com
Alan Kentish, Chief Financial Officer [e-mail]	Tel: [phone]

Evolution Securities	Tel: [phone]
Jeremy Ellis / Chris Clarke	www.evosecurities.com

Media enquiries:

Abchurch
Henry Harrison-Topham / Mark Dixon	Tel: [phone]
[e-mail]	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 ended, 31 December 2008, STM Group reported revenue of £9.19 million with pre tax profits of £2.84 million and for the year ended 31^st December 2009 the reported revenue was £8.5m with pre-tax profits of £0.7 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

 

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