STM Group PLC AGM Statement (8948C)
June 24 2021 - 01:00AM
UK Regulatory
TIDMSTM
RNS Number : 8948C
STM Group PLC
24 June 2021
STM Group Plc
("STM", the "Company" or the "Group")
AGM Statement
At the Annual General Meeting of STM Group Plc (AIM:STM), the
cross-border financial services provider, to be held at 10am today,
the Chairman, Duncan Crocker will make the following statement:
"I am pleased to confirm that the Group continues to perform in
line with management's expectations as we approach the end of the
first half of our financial year. The key deliverables of our
three-year strategy remain the focus of the business, and we have
achieved a number of milestones during the first six months of
2021.
"Notably, the four large IT projects to move our administration
systems on to our chosen platforms are in the final stages of
completion, and we have achieved one of our stated aims of exiting
the Corporate and Trustee services sector.
"Our focus going into the second half of 2021 is to accelerate
new business revenue so as to improve profit margins against our
cost base, which is largely fixed, and will invariably mean some
refinement to our operating model. We will continue to seek
opportunities to expand our distribution reach and product range by
partnering with firms that wish to offer a pension or life wrapper
solution to their client base.
"We remain committed to improving our overall capital management
structure, and to delivering earnings enhancement from further
acquisitions.
"None of this would be possible without the hard work of the
management team and my STM colleagues as a whole, and I would like
to thank them for the continued progress that we have made despite
the ongoing challenges that Covid-19 has created.
"I look forward to the Company issuing a more detailed trading
update as part of a pre-close statement for the half year ending 30
June 2021."
For further information, please contact:
STM Group Plc
Alan Kentish, Chief Executive Officer Via Walbrook PR
Therese Neish, Chief Financial Officer www.stmgroupplc.com
FinnCap www.finncap.com
Matt Goode / Emily Watts - Corporate Finance Tel: +44 (0) 20 7220
Tim Redfern / Richard Chambers - ECM 0500
Walbrook www.walbrookpr.com
Tom Cooper / Anysia Virdi 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 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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