Issue of Equity/Director PDMR Shareholding
04 January 2008
STM Group PLC (AIM:STM), the cross border financial services provider, today announces that 10,638 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 January 2008. The number of new Ordinary Shares issued is based upon the share price of 70.5 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 preceding quarter end date.
Following this issue, the total number of Ordinary Shares in issue is 37,552,912 and Mr Gallagher's total shareholding in the Company will be 270,739 Ordinary Shares, representing 0.7 per cent. of the issued share capital of the Company. All of these shares are held by STM Fidecs Nominees Limited.
Application has been made to the London Stock Exchange for the new Ordinary Shares to be admitted to trading on AIM on 9th January 2008
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|