REG - STM Group PLC - Directorate Change, Trading Update & Results Date <Origin Href="QuoteRef">STMG.L</Origin>

STMAnnouncement

19/01/2016 07:10

RNS Number : 2457M
STM Group PLC
19 January 2016
19 January 2016
STM Group Plc
("STM" or "the Group")
Directorate Change,
Trading Update 
and Notice of Results
STM Group Plc (AIM: STM), the multi-jurisdictional financial services group, announces that Colin Porter, CEO of STM, yesterday tendered his resignation to pursue an opportunity in a non-competing industry in the United States. Colin will serve his 12 month notice period to ensure an orderly hand over and will work closely with the Board to support the transitionary period. Alan Kentish, Director of Product & Business Development and formerly Chief Financial Officer at flotation of the business in 2007 and executive director since then, will assume the role of Interim Chief Executive Officer as of 1 April 2016. 
Trading Update & notice of Final Results
The Board announces that the Group has traded broadly in line with market expectations for 2015 of profit before tax of 2.7m (2014 actual: 1.7m). STM continues to invest in its business development infrastructure and product development capabilities, the benefits of which will be further seen in 2016. 
STM will announce its Final Results for the 12 months to 31 December 2015 on Tuesday 1 March 2016. Colin Porter will be presenting the 2015 results with Alan Kentish and Therese Neish, STM's Chief Financial Officer. 
Commenting on Colin Porter's resignation and prospects for the Group, Mike Riddell, Chairman of STM, said:
"The Board would like to thank Colin for his dedication and service to STM over the last five years. Colin, along with the rest of the Board, have been instrumental in developing STM into a profitable and robust business, with a core focus on the mainstream revenue streams of internationalpensions administration and Life Portfolio Bond wrappers. The market potential in these product areas is considerable which gives us confidence in our expectation of being able to deliver growth in profitable, highly visible annuity revenue streams going forward."
Colin Porter added:
"I feel proud to have led a Group that has delivered significant growth in terms of both revenue and profitability over the last three years, and believe that this is set to continue into the future. For my part, I have a very interesting opportunity that lays ahead in the United States, but have already given my assurances to the Board that I will work my notice as far as is required, and will help the further development of the Board in any way I can."
For further information, please contact:
STM Group Plc
www.stmgroupplc.com
Colin Porter, Chief Executive Officer
colin.porter@stmgroupplc.com
Tel: +350 200 42686
Alan Kentish, Product & Business Development Director
alan.kentish@stmgroupplc.com
Tel: +350 200 42686
Therese Neish, Chief Financial Officer
therese.neish@stmgroupplc.com
Tel: +350 200 42686
finnCap
www.finncap.com
Matt Goode / Christopher Raggett / Emily Watts
Corporate Finance
Mia Gardner - Corporate Broking
Tel: +44 (0) 20 7220 0500
Walbrook PR
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 administration of assets for international clients in relation to retirement, estate and succession planning and wealth structuring. 
Today, STM has trading operations in Gibraltar, Spain, Jersey, Malta and Cyprus. The Group is looking to expand through the development of additional products and services that its ever more sophisticated clients demand. STM has, for example, incorporated 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. STM has developed a specialist international pensions division which specialises in Qualifying Recognised Overseas Pension Schemes (QROPS), Qualifying Non UK Pension Schemes (QNUPS) and Employer Funded Retirement Benefit Schemes (EFRBS). 
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 Exchange
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