Cross-border financial services provider STM Group has reached agreement in principle on “the key terms of a possible cash offer” for the entire issued and to be issued share capital of the company from Pension SuperFund (PSF) Capital.
The offer is valued at a price of 70 pence per share.
The board of STM Group has confirmed to Pension SuperFund Capital that, should a firm offer be made on the financial terms of the offer, it would recommend it unanimously to STM Group’s shareholders.
Any offer made would be subject to the agreement of other customary terms and conditions, including the approval of the Financial Conduct Authority (FCA), the Gibraltar Financial Services Commission (GFSC), the Malta Financial Services Authority (MFSA) and The Pensions Regulator (TPR).
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.