Issue of Equity

RNS Number : 2954Y
STM Group PLC
01 September 2009
 



Press Release 

1 September 2009     



STM Group Plc


('STM' or 'the Company')


Issue of Equity


Further to the announcement on 18 June 2008, STM Group Plc (AIM:STM), the cross border financial services provider, today announces that as a result of St George Financial Services and its associated companies achieving the various milestones since its acquisition by STM in June 2008, additional consideration of 107,296 new ordinary shares of 0.1 pence each in the Company ('Ordinary Shares') are to be issued


Application has been made for the New Ordinary Shares to be admitted to trading on the AIM market of London Stock Exchange plc and dealings are expected to commence on 4th September 2009. The shares will rank pari passu with existing shares in issue.


Following the issue of the new Ordinary Shares, the Company's issued ordinary share capital will comprise 42,861,372 Ordinary Shares. All of the Ordinary Shares carry voting rights and this will be the figure which may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company. 


- 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



FinnCap

Tel: +44 (0)20 7600 1658

Tom Jenkins / Marc Young

www.finncap.com 


Media enquiries:

Abchurch


Charlie Jack / Mark Dixon

Tel: +44 (0) 20 7398 7706

mark.dixon@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. For the year ending, 31 December 2008STM Group reported revenue of £9.19 million with pre tax profit of £2.84 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


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

Companies

STM Group (STM)
UK 100

Latest directors dealings