Trading Update, Notice of Results & Directorate Change
03 February 2021
STM, the multi-jurisdictional financial services group, announces, in line with existing guidance provided in the trading update on 30 November 2020, that it expects to report 2020 Revenues of £24.0m, EBITDA of £3.6m, PBT of £2.0m and net cash of £15.5m. These estimates remain subject to any audit adjustments.
STM expects to announce results for the 12 months to 31 December 2020 in early April 2021.
The Company also announces that Therese Neish has notified the Board of her intention to step down as Chief Financial Officer and resign from the Company. A search will commence immediately for a new CFO, to be based in the UK. The Board expects to make an appointment within Therese's notice period to allow ample time for an orderly handover and will update the market accordingly in due course.
Therese has been with STM for over 17 years, serving as CFO and a member of the Board for the last 7 years, and her decision to step down reflects her view that now is the right time to hand over the role and allow her to explore other career opportunities.
Alan Kentish, Chief Executive Officer of STM, commented:
"We would all like to thank Therese for her contribution during a period where we have significantly transformed the business and made a number of complementary acquisitions.
"We are grateful for her ongoing support in ensuring a seamless transition during the appointment and on-boarding of a successor and wish her the very best for the future."
For further information, please contact:
STM Group Plc
Alan Kentish, Chief Executive Officer
Therese Neish, Chief Financial Officer
Via Walbrook PR
Matt Goode / Emily Watts - 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