21st Aug 2007 07:00
STM Group PLC21 August 2007 Press Release 21 August 2007 STM Group Plc ("STM" or "the Group") Interim Results - Tuesday 11 September 2007 STM Group Plc (AIM:STM), the cross border financial services provider, advisesthat it will be announcing its Interim Results for period ended 30 June 2007 onTuesday 11 September 2007. An analyst briefing given by Tim Revill (Chief Executive) and Alan Kentish(Finance Director) will be held at 09.30 am on Tuesday 11 September 2007 atAbchurch Communications Ltd, 5th Floor, 100 Cannon Street, London, EC4N 6EU. - Ends - For further information, please contact: STM Group Plc Tim Revill, Chief Executive Officer Tel: 00 350 51610 Matt Wood, Non-executive director Tel: +44 (0) 20 7752 0215 www.stmgroupplc.com Daniel Stewart & Co. Plc Lindsay Mair / Tessa Smith Tel: +44 (0) 20 7776 6550 Media enquiries: Abchurch Charlie Jack/George Parker Tel: +44 (0) 20 7398 7706 [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 offshorejurisdictions. The Company's aim is to grow through acquiring and consolidatinghigh quality existing CTSPs which offer complementary products and services andthat operate in complementary tax efficient jurisdictions to those provided bySTM's first acquisition, the Gibraltar based CTSP, Fidecs Group Limited ("Fidecs"). Fidecs is the second largest financial services firm in Gibraltar and employs 80people. 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. In the year ended 31 December 2006, Fidecs reportedturnover of £5 million with post tax profit of £1.7 million. In June 2007 STM acquired the Atlas Group of companies, a privately held CTSPprovider, based in Gibraltar which has been integrated into the operations ofSTM Fidecs. 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,single offshore jurisdictions. 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.