22nd Apr 2008 07:00
STM Group PLC22 April 2008 Press Release 22 April 2008 STM Group Plc ("STM", "the Company" or "the Group") Posting of 2007 Report & Accounts/ Notice of AGM STM Group Plc (AIM:STM), the cross border financial services provider, is todaypleased to announce that it has today posted copies of the Company's 2007 Report& Accounts to shareholders for the 11 months ended 31 December 2007. Notice ofits Annual General Meeting ('AGM') which is to be held at its registered office,Clinch's House, Lord Street, Douglas, Isle of Man on Wednesday 14 May 2008 at12.00pm, has also been posted to shareholders today. Copies of these documentsare available on the Company's website at www.stmgroupplc.com - Ends - For further information, please contact:STM Group PlcTim Revill, Chief Executive Officer Tel: 00 350 [email protected] www.stmgroupplc.com Daniel Stewart & Company Plc Tel: +44 (0) 20 7776 6550Lindsay Mair / Stewart Dick www.danielstewart.co.uk Media enquiries:AbchurchCharlie Jack / George Parker Tel: +44 (0) 20 7398 [email protected] www.abchurch-group.com Notes to editors STM was formed in 2007 specifically to become a leading financial services groupoperating in the Corporate and Trustee Service Provider (CTSP) sector. TheCompany listed on the AIM market of the London Stock Exchange in March 2007.The traditional business of CTSPs is to administer and manage personal, familyand commercial assets and income streams in tax efficient jurisdictions. TheCompany's aim is to grow through acquiring and consolidating high qualityexisting CTSPs which offer complementary products and services and that operatein complementary tax efficient jurisdictions to those provided by STM's firstacquisition, the Gibraltar based CTSP, Fidecs Group Limited ("Fidecs"). Fidecs is the second largest financial services firm in Gibraltar and employsover 101 people. It specialises in financial planning for both High Net Worthindividuals ("HNWI") moving to work, living or retiring overseas or makingcross-border investments, and for entrepreneurial, predominantly, owner-managedbusinesses, expanding into or re-locating to other, frequently lower tax,jurisdictions. It also includes an insurance management division, specialisingin providing set up and management services to newly formed insurance companiesoperating out of Gibraltar. For the nine months of trading, since theacquisition of Fidecs Group on the 28 March 2007, to 31 December 2007, STM Groupreported revenue of £5.29 million with pre tax profit of £1.78 million. In June and August 2007 STM acquired two Gibraltar based CTS providers, theAtlas Group of companies and Parliament Corporate Services Limited. These twoacquisitions further consolidated STM's leading position in Gibraltar. The Groupexpanded into the Channel Islands in December 2007, with the purchase ofCompagnie Fiduciaire Trustees Limited. The CTSP market is fragmented in nature, comprising a small number of very largeinternational financial services groups and a large number of relatively smalltrust and company management businesses regulated by, and operating out of, asingle jurisdiction. Further information on STM Group can be found at www.stmgroupplc.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Stm Grp.