Options Pensions’ parent company STM Group has agreed in principle to a takeover bid by Pension Superfund Capital, a company founded by industry veteran Edi Truell.
In an announcement to the stock exchange this morning (July 11), STM Group said it has reached an agreement on the key terms of a possible cash offer at a price of 70 pence per share.
The company said discussions in relation to the possible offer were “at a very early stage”.
STM Group plc (LON:STM) is a multi-jurisdictional financial services group listed on the Alternative Investment Market of the London Stock Exchange. The Group was formed as a strategic investment company specifically to build a leading financial services group originally operating in the international corporate and trustee service provider (CTSPs) sector.