INVESTOR RELATIONS

Corporate News

Directors' Dealings / Holdings in Company

04 July 2014

STM Group PLC (AIM: STM), the multi-jurisdictional financial services group, is pleased to announce the acquisition of ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares") by certain directors.

Nigel Green, a substantial shareholder in STM, on 3 July 2014 sold 6,764,191 Ordinary Shares (the "Sale Shares") as part of his long term strategy now that STM has fully developed robust processes and administration services within its pensions business. Mr. Green now holds 5,317,931 ordinary shares, representing 9.95% of the issued share capital of STM.

The Sale Shares sold by Mr. Green have been acquired by certain directors and existing shareholders of STM and other investors.   

The following directors on 3 July 2014 purchased certain of the Sale Shares, all at a price of 18 pence per Ordinary Share, as per the table below:

Director No. of Sale Shares acquired Total Value Resulting Ordinary Sharesheld % of issued share capital of STM
Alan Kentish 1,666,667 £300,000 4,868,817 9.11%
Colin Porter 200,000 £36,000 1,471,113 2.75%
Julian Telling 138,889 £25,000 223,889 0.42%
Therese Neish 250,000 £45,000 322,556 0.60%

Arron Banks, who, together with his related companies, is a substantial existing shareholder in STM, on 3 July 2014 acquired 3,494,747 Sale Shares, subject to regulatory approval.  His resulting holding is 8,745,262 Ordinary Shares representing 16.36% of the issued share capital of STM.

Commenting on the transactions, Colin Porter, Chief Executive of STM, said: 

"Nigel Green's significant investment in STM some two years ago was timely and allowed STM the resources to develop and implement a growth strategy in the pensions administration market and in niche markets for its own life assurance company, STM Life. Today we are proud to be able to say that we offer one of the best administration services and product ranges in the expatriate marketplace to our ever expanding intermediary base.

"STM is now in a stronger position than ever to exploit the opportunities emerging in the international financial services market.  Our strategy of driving business development and product innovation continues to build momentum.  Nigel Green has been a keen supporter of our organisation and we are pleased that he remains part of our loyal shareholder base. The fact that certain directors have purchased some of these shares demonstrates the confidence of the Board in the prospects of the business."

Nigel Green, strategic investor in STM and Chief Executive of deVere Group, added:

"I took a strategic stake in STM to provide additional resources so that it could develop robust systems to enable it to offer the best QROPS administration in the market, to reduce costs and to increase efficiency, for the benefit of our clients who sought their products.

 "As these objectives have now been achieved, the next stage of the original, long-term considered strategy was the sale of the majority of my shares.  This has been completed today.

"Whilst I still consider shares in STM, a truly market-leading financial products provider, to be an excellent investment opportunity, my main focus is and always has been the development of deVere Group." 

 

For further information, please contact:

STM Group PLC www.stmgroupplc.com
Colin Porter, Chief Executive Officer Tel: + 350 200 42686
[email protected]
Alan Kentish, Director of Business and Product Development Tel: + 350 200 78614
[email protected]
Therese Neish, Chief Financial Officer Tel: 00 350 200 78614
[email protected]
finnCap www.finncap.com
Charlotte Stranner / Christopher Raggett - Corporate Finance Tel: +44 (0) 20 7220 0500
Mia Gardner - Corporate Broking
Walbrook PR www.walbrookpr.com
Tom Cooper / Paul Vann Tel: +44 (0) 117 985 8989
Mob: +44 (0) 797 122 1972
[email protected]

 

Notes to editors:

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

Today, STM has trading operations in Gibraltar, Malta, Jersey, and Spain. It has also recently opened satellite offices in South East Asia, the Middle East, and South Africa. The Group continues to expand through the development of additional products and services that its ever-more sophisticated clients demand.

STM has, for example, a dedicated international pensions division which specialises in Qualifying Recognised Overseas Pension Schemes (QROPS) and Qualifying Non-UK Pension Schemes (QNUPS); it also has a Gibraltar Life Insurance Company, STM Life Assurance PCC 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