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STM Group PLC (STM)

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Friday 13 April, 2012

STM Group PLC

Issue of Equity/Director Shareholding

RNS Number : 3416B
STM Group PLC
13 April 2012
 



 

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 it has issued 1,424,900 new ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") (representing 2.7% of the existing issued share capital) to the following Directors and employees to repay loans of £290,000 which had been made to the Company (the "Issue"):

 

Shareholder

Number of new Ordinary Shares issued

Total number of Ordinary Shares held/Percentage of issued share capital in the Company

Colin Porter,

Chief Executive Officer

733,500

1,271,113 / 2.38%

Alan Kentish,

Chief Financial Officer

324,650

3,202,150¹ / 5.99%

Liz Plummer,

Company Secretary

366,750

1,741,750² / 3.26%

¹ 2,850,000 Ordinary Shares are held by Clifton Participations, Inc., a party related to Alan Kentish.

² 1,350,000 Ordinary Shares are held by Quest Traders Limited, a party related to Liz Plummer.

 

All of these Ordinary Shares are held by STM Fidecs Nominees Limited.

 

The loans were made to provide short term working capital, were interest free and repayable on demand. The number of new Ordinary Shares issued to repay the loans equates to an issue price of 20.35 pence per Ordinary Share representing a premium of approximately 16 per cent. to the last placing of Ordinary Shares announced on 9 March 2012.

 

Application will be made for the 1,424,900 new Ordinary Shares to be admitted to trading on the AIM Market of the London Stock Exchange and it is expected that such admission will occur and dealings will commence on 19 April 2012.

 

The total number of Ordinary Shares in issue with voting rights is now 53,446,549 with each Ordinary Share carrying the right to one vote. There are no shares held in treasury. The figure of 53,446,549 may be used by shareholders (and others with notification obligations) as the denominator for the calculations by which they are required to notify their interest, or a change to their interest, in STM under the FSA's Disclosure and Transparency Rules. 

 

For further information, please contact:

STM Group Plc


Colin Porter, Chief Executive Officer

colin.porter@stmgroupplc.im

Tel: 00 350 200 42686

www.stmgroupplc.com



Alan Kentish, Chief Financial Officer

alan.kentish@stmgroupplc.im

 Tel: 00 350 200 78614

 



FinnCap

www.finncap.com

Marc Young / Chris Raggett - Corporate Finance

Simon Starr - Corporate Broking

Tel: +44 (0) 20 7220 0500



Winningtons

www.winningtons.co.uk

Tom Cooper / Paul Vann

Tel: +44 (0) 20 3176 4722

Mob: +44 (0) 797 122 1972

tom.cooper@winningtons.co.uk

 

 

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 and Malta. 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 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

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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