REG - STM Group PLC - Update re 2021 life assurance audits

STMAnnouncement

25/05/2023 07:00

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RNS Number : 5730A  STM Group PLC  25 May 2023

STM Group Plc

("STM" or "the Company" or "the Group")

Update re 2021 life assurance audits

 

STM Group Plc (AIM: STM), the cross border financial services provider,
announces that the financial statements for the Company's two Gibraltar life
assurance subsidiaries, London & Colonial Assurance PCC Plc and STM Life
Assurance PCC Plc (the "Life Company Subsidiaries") for the year ended 31
December 2021 have been signed.

STM further announces that regulatory approval from the Gibraltar Financial
Services Commission ("GFSC") for the appointment of the Managing Director of
the Life Company Subsidiaries was received on 5 May 2023. As such, there was
no requirement to disclose a material uncertainty relating to going concern in
the financial statements, referenced in the Company's market announcement
issued on 4 May 2023.

The process is now under way to appoint Grant Thornton as auditors of the Life
Company Subsidiaries to ensure that the 2022 Group audit is signed in the
coming weeks.

For further information, please contact:

 STM Group Plc
 Alan Kentish, Chief Executive Officer                         Via Walbrook PR

                                                               www.stmgroupplc.com (http://www.stmgroupplc.com)

 finnCap                                                       www.finncap.com (http://www.finncap.com)
 Matt Goode / Emily Watts / Abigail Kelly - Corporate Finance  Tel: +44 (0) 20 7220 0500

 Tim Redfern (ECM)

 Walbrook                                                      www.walbrookpr.com (http://www.walbrookpr.com)
 Tom Cooper / Joseph Walker                                    Tel: +44 (0) 20 7933 8780
                                                               Mob: +44 (http://www.abchurch-group.com) (0) 797 122 1972
                                                               STM@walbrookpr.com (mailto: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
(https://urldefense.proofpoint.com/v2/url?u=http-3A__www.stmgroupplc.com&d=DwMGaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=05PHl3GHdShYuaCii2fBRpoqaNr9B1d97X09daeosu0&m=PU7KD9-tYowY3PC9sXem4PQSmJ-Zm8TJB2ox4M8NHwI&s=39Vvq5Ccz7txaqksRCl4B8zUxhpd6elnqEy0XmTed50&e=)

 

 

 

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