Holding(s) in Company

RNS Number : 1191G

STM Group PLC

17 October 2008

 

STM Group plc

('STM' or 'the Company)

Holdings(s) in Company

The Company has today been informed by KAS Bank NV that, through its nominee KAS Nominees Limited, it has a notifiable interest in 2,595,000 Ordinary Shares of 0.1p in the Company. This holding represents approximately 6.09% of the Company's total issued share capital.

Enquiries:

STM Group Plc
Tim Revill, Chief Executive Officer	Tel: [phone]
Matt Wood, Non-executive director	Tel: [phone]
	www.stmgroupplc.com

Daniel Stewart & Co. Plc
Lindsay Mair / Tessa Smith	Tel: [phone]

Abchurch Communications
Henry Harrison-Topham / Charlie Jack	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 on 28 March 2007.  The traditional business of CTSPs is to administer and manage personal, family and commercial assets and income streams in tax efficient offshore 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 was acquired by STM upon its Admission to AIM.

Fidecs is the second largest financial services firm in Gibraltar and employs over 100 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. For the nine months of trading, since the acquisition of Fidecs Group on 28 March 2007, to 31 December 2007, STM Group reported revenue of £5.29 million with pre tax profit of £1.78 million and for the subsequent 6 months to 30 June 2008 the reported revenue was £4.26 million with pre tax profits of £1.43 million.

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.

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

 

END

 

 

HOLILFFFIVLDLIT