Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

STM Group PLC (STM)

  Print      Mail a friend       Annual reports

Monday 13 November, 2017

STM Group PLC

Acquisition

RNS Number : 2399W
STM Group PLC
13 November 2017
 

 

STM Group Plc

("STM", the "Company" or the "Group")

Acquisition of the Malta based

Harbour Pensions Limited

 

STM Group Plc (AIM: STM), the cross border financial services provider, is pleased to announce that on 10 November 2017 STM Malta Limited signed a Sale and Purchase Agreement ("the Acquisition") with the shareholders of Harbour Pensions Limited ("Harbour") to acquire the entire issued share capital of the company and its related pension trust schemes.

 

The Acquisition is subject to regulatory approval by the Malta Financial Services Authority, a process that generally takes a few months. Harbour is a licensed retirement scheme administrator based in Malta, incorporating four registered pension schemes with some 1,600 Members and audited revenues in the year to 31 December 2016 of £1.1 million.

 

The Board views the acquisition as a straight forward "bolt-on" to STM's Malta business, complementing the existing circa 7,500 QROPS members and delivering recurring annual revenues in excess of £0.8 million per annum. The complete integration of the Harbour business is expected to take in the region of six months, after which the Board expects to deliver cost synergies and economies of scale of some £0.4 million on an annualised basis. The Board believes the acquisition will be moderately earnings enhancing in the first full financial year of ownership with annualised profit contribution of £0.4 million thereafter.

 

The terms of the Acquisition are confidential for commercial reasons but it will be funded from existing cash reserves.

 

Commenting on the acquisition, Alan Kentish, Chief Executive Officer of STM, said:

 

"We are delighted to announce the acquisition of Harbour which will further build our book of business in Malta and allow for additional profit uplift from this jurisdiction.

 

"Harbour is a good solid business and the acquisition by STM is a win-win for all parties, giving a sensible exit route for the existing shareholders whilst at the same time ensuring that their existing QROPS members are well looked after going forward.

 

"As predicted, the QROPS landscape in Malta and Gibraltar was always going to change significantly post March 2017 UK budget announcement.

 

"The STM executive continues to seek other consolidation opportunities in the QROPS market."

 

Justin Caffrey, Managing Director of Harbour, added:

 

"Harbour was always a five year plan for the team and we are rapidly approaching the end of this period. As entrepreneurs, this move allows us to focus on our other investments within our portfolio.

 

"It has been a great team effort and I wish to thank all those who contributed to Harbour over the years, and I have very much enjoyed working in the dynamic financial services hub of Malta.

 

"I am delighted that we were able to reach agreement with STM to acquire Harbour as they are one of the largest independent global pension administrators."

 

 

 

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

 

 

For further information, please contact:

STM Group Plc

 

Therese Neish, Chief Financial Officer

[email protected]

Via Walbrook PR

www.stmgroupplc.com

 

 

FinnCap

www.finncap.com

Matt Goode / Emily Watts - Corporate Finance

Mia Gardner - Corporate Broking

Tel: +44 (0) 20 7220 0500

 

 

Walbrook

www.walbrookpr.com

Tom Cooper / Paul Vann

Tel: +44 (0) 20 7933 8780

 

Mob: +44 (0) 797 122 1972

 

[email protected]

 

 

Notes to editors:

STM is a multi jurisdictional financial services group which is listed on the AIM Market of the London Stock Exchange. The Group specialises in the delivery of a wide range of financial service products to professional intermediaries and the administration of assets for international clients in relation to retirement, estate and succession planning and wealth structuring.

 

Today, STM has operations in the UK, Gibraltar, Malta, Jersey and Spain. The Group is looking to expand through the development of additional products and services that its ever more sophisticated clients demand. STM has developed a specialist international pensions division which specialises in Qualifying Recognised Overseas Pension Schemes (QROPS), Qualifying Non UK Pension Schemes (QNUPS). STM has 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.

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
 
 
ACQLLFSDLVLILID

a d v e r t i s e m e n t