STM Group PLC Trading Update & Notice of Results (6529V)
25 July 2018 - 4:01PM
UK Regulatory
TIDMSTM
RNS Number : 6529V
STM Group PLC
25 July 2018
STM Group Plc
("STM", the "Company" or the "Group")
Trading Update
and Notice of Results
STM Group Plc (AIM: STM), the cross border financial services
provider, announces the following trading update:
The first half year of 2018 has progressed in line with
management's expectations, underpinned by the Group's underlying
recurring revenue stream and a steady flow of new business
applications, particularly with regards to the International SIPP.
We look forward to the second half of 2018 with confidence in our
robust business model and remain on track to achieve current
management expectations for the full year.
The integration of the Harbour acquisition, approval for which
was received in February 2018, has progressed according to plan
with the full integration into STM Malta expected to be completed
by end of August. Harbour will be moderately earnings enhancing for
the full year. The Board continues to look for earnings enhancing
acquisitions of pension administration businesses in both the
international pensions market, as well as that of the UK domestic
market.
We have built on our governance framework, and as part of this
plan the Company has appointed a Group Internal Auditor. In
addition, the Board has taken the decision to recruit a Chief
Operating Officer to join the existing executives. This additional
resource will allow the Chief Executive Officer to focus more on
Group strategy, adding further stakeholder value above and beyond
organic growth.
In addition, the recruitment of a new Chairman and an additional
Non-Executive Director is in the final stages, and will result in
further complementary skills being brought to the boardroom. We
expect to update the market on this in the near future.
Notice of Results:
STM will announce its Interim results for the six months to 30
June 2018 on Tuesday 11 September 2018.
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
For further information, please contact:
STM Group Plc
Alan Kentish, Chief Executive Officer Via Walbrook PR
alan.kentish@stmgroupplc.com www.stmgroupplc.com
Therese Neish, Chief Financial Officer
therese.neish@stmgroupplc.com
FinnCap www.finncap.com
Matt Goode / Emily Watts - Corporate Tel: +44 (0) 20 7220 0500
Finance
Tim Redfern / Richard Chambers -
ECM
Walbrook www.walbrookpr.com
Tom Cooper / Paul Vann Tel: +44 (0) 20 7933 8780
Mob: +44 (0) 797 122 1972
tom.cooper@walbrookpr.com
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.
STM has operations in the UK, Malta, Gibraltar, 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), and Qualifying Non UK Pension
Schemes (QNUPS). STM has a Gibraltar Life Insurance Company, STM
Life plc, which provides 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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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