Update to Results Announcement Date
23 March 2020
STM Group Plc, the multi-jurisdictional financial services group, provides the following update to the market.
As previously announced, STM Group Plc intended to announce its preliminary results for the year ended 31 December 2019 on Tuesday 24 March 2020.
As announced by the UK Financial Conduct Authority ("FCA") this morning, on 22 March 2020 the FCA wrote to all listed companies which were planning to announce preliminary financial statements shortly, requesting that all such listed companies that were looking to announce should delay their preliminary financial statements, in order to ease the practical challenges faced by the audit profession during the Coronavirus crisis.
Whilst the Board were in a position to announce the Company's preliminary financial statements on 24 March 2020, it has agreed to follow the FCA's request and will no longer announce its preliminary results on 24 March 2020.
In line with existing guidance provided in the trading update on 27 November 2019 and on 28 February 2020, STM expects to report 2019 Revenues of approximately £23.0m, reported PBT of approximately £3.8m, with Underlying PBT* of approximately £2.5m.
The Board will update the market with a date for the release of its audited financial statements as soon as practicable.
*Underlying PBT is profit before tax net of non-recurring costs and other exceptional items including bargain purchase gains and technical reserve releases that do not form part of the normal course of business.
For further information, please contact:
|STM Group Plc|
|Alan Kentish, Chief Executive Officer [email protected]||Via Walbrook PR www.stmgroupplc.com|
|Therese Neish, Chief Financial Officer [email protected]|
|Matt Goode / Simon Hicks - Corporate Finance Tim Redfern / Richard Chambers - ECM||Tel: +44 (0) 20 7220 0500|
|Tom Cooper / Paul Vann||Tel: +44 (0) 20 7933 8780|
|Mob:+44(0) 797 122 1972|
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 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 SIPPs, Qualifying Recognised Overseas Pension Schemes (QROPS), Qualifying Non UK Pension Schemes (QNUPS). STM has two Gibraltar life assurance companies which provide 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