STM Group PLC Board Changes and Trading Update (8516U)
04 Agosto 2022 - 3:00AM
UK Regulatory
TIDMSTM
RNS Number : 8516U
STM Group PLC
04 August 2022
STM Group Plc
("STM" or "the Company" or "the Group")
Board Changes and Trading Update
STM Group Plc (AIM: STM), the cross border financial services
provider, announces that Malcolm Berryman has confirmed to the
Board that he is standing down ahead of today's Annual General
Meeting.
As a result, resolution 5 is being withdrawn from today's
meeting.
In addition, Duncan Crocker has indicated his intention to stand
down as Chairman within the next month, with the appointment of a
successor underway.
With regards to trading, the first half of the year has
continued to be slower than anticipated largely because of new
business revenues in the UK taking longer to materialise than
predicted. However, the pipeline remains encouraging and therefore
management believe that their 2022 overall profit expectations will
be met. A more detailed trading update, covering the six-month
period to 30 June 2022, will follow around the time of completion
of the Premier Pensions acquisition from Mercer, previously
announced on 26 July, scheduled to be 31(st) August.
Alan Kentish, Chief Executive of STM commented: "In our 2021
Interim results we highlighted our strategy to evolve the business
and operating model around the growth opportunities for STM. To
that end, we will be making a number of appointments in the coming
months to refresh the Board around the future strategy of the
Group.
"I would like to thank Duncan and Malcolm for their contribution
and wish them the best for the future. We are seeking to appoint a
new independent chair and independent non-executive director in the
very near future, who will continue to support management's growth
expectations for the business."
For further information, please contact:
STM Group Plc
Alan Kentish, Chief Executive Officer Via Walbrook PR
Nicole Coll, Chief Financial Officer www.stmgroupplc.com
finnCap www.finncap.com
Matt Goode / Abigail Kelly - Corporate Finance Tel: +44 (0) 20 7220
Tim Redfern / Richard Chambers - ECM 0500
Walbrook www.walbrookpr.com
Tom Cooper / Joseph Walker Tel: +44 (0) 20 7933
8780
Mob: +44 (0) 797 122
1972
STM@walbrookpr.com
Notes to editors:
STM is a multi-jurisdictional financial services group traded on
AIM, a market operated by the London Stock Exchange. The Group
specialises in the administration of client assets in relation to
retirement, estate and succession planning and wealth
structuring.
Today, the Group has operations in the UK, Gibraltar, Malta,
Australia and Spain. STM has developed a range of pension products
for UK nationals and internationally domiciled clients and has two
Gibraltar life assurance companies which provide life insurance
bonds - wrappers in which a variety of investments, including
investment funds, can be held.
STM's growth strategy is focussed on both organic initiatives
and strategic acquisitions.
Further information on STM Group can be found at
www.stmgroupplc.com
.
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END
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