Directors Dealing and Issue of Equity
05 April 2007
STM Group PLC (AIM:STM), the cross border financial services provider, today announces that 15,000 new ordinary shares of 0.1 pence each in the Company (“Ordinary Shares”) have been issued to Mr Bernard Gallagher, the Company’s Non-Executive Chairman, in payment of his Chairman’s fees for the quarter commencing on 1 April 2007. The number of new Ordinary Shares issued is based upon share price of 50 pence per Ordinary Share.
Pursuant to Mr Gallagher’s service contract with the Company, he has elected to receive his quarterly directors’ fee in Ordinary Shares rather than cash. Accordingly, the Company expects to issue new Ordinary Shares to Mr Gallagher at or around the beginning of each of the quarters commencing on April 2007. The number of new Ordinary Shares to be issued to Mr Gallagher in subsequent quarters will be calculated based upon the average mid-market price per Ordinary Share in the five trading days ending on the day prior to the relevant quarter end date.
Following this issue, the total number of Ordinary Shares in issue is 35,215,000 and Mr Gallagher’s total shareholding in the Company will be 237,222 Ordinary Shares, representing 0.67 per cent. of the issued share capital of the Company. 222,222 of these shares are held by Fidecs Nominees Limited.
Application has been made to the London Stock Exchange for the new Ordinary Shares to be admitted to trading on AIM.
For further information, please contact:
|STM Group PLC|
|Tim Revill, Chief Executive||Tel: 00 350 51610|
|Matt Wood, Non-executive director||Tel: +44 (0) 20 7752 0215|
|Daniel Stewart & Co. Plc|
|Lindsay Mair / Tessa Smith||Tel: +44 (0) 20 7776 6550|
|Henry Harrison-Topham||Tel: +44 (0) 20 7398 7702|
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