Stm Share Discussion Threads

[value hound] 10/7/2023 21:44

Indeed; hxxps://news.sky.com/story/city-financier-truell-makes-approach-for-pensions-master-trust-stm-12918783

40p???

[sbb1x] 10/7/2023 21:36

Take over offer on sky

[chrisdgb] 03/7/2023 11:57

Could be an interesting time to build a position......

[russman] 28/6/2023 06:15

"and are working towards a revised strategy to maximising the opportunities and to deliver shareholder value."
Plan ?

[arthur_lame_stocks] 28/6/2023 05:59

I'm a bit disappointed to see the final dividend slashed.

[smithie6] 27/6/2023 20:35

agree with you there

=======
..personally I am a bit dissapointed by the perf. of the MD over the last few years

- appointing other people to take on tasks..
...perhaps an over zealous keeness to hire new people for mnmgt roles....hitting co. profit.....with little or no results from the extra costs

- the co. doing different initiatives but looks like none have performed/delivered
the % non performance result looks worrying

- he was the main mover behind IT projects, to reduce the use of labour, & hence reduce costs & improve profits.
appears not to have delivered the expected results

- to review the operation of the co. & decide a plan, ...the bod hired external people to do it, rather that existing dirs/managers doing it !!! (& probably at a high cost)

no position.

[baner] 27/6/2023 08:28

Blablablablablabla………….time to go from jam to morrow to proper Food on the plate! The current BOD has no credibility at all. Time for shareholders to take some action here.

[smithie6] 20/6/2023 21:31

see post 1338. ;-)

[arthur_lame_stocks] 18/6/2023 11:58

I wonder if the strategic review was forced on them by Peter Gyllenhammar? It seems clear to me there is value here but the company seems to continually underperform and much of the cash is needed for regulatory purposes.

[pdosullivan] 17/6/2023 10:57

The Group is trading on an enterprise value of effectively zero with net cash equal to the market cap. I would not like to be diluted at this level.

[chrisdgb] 01/6/2023 12:12

What about if they reversed something in...?

[baner] 01/6/2023 09:34

Why spend money on a strategic review? Sell the company - in whole or in pieces - and shareholders will get 50p++. No ”review” required to understand what is the only way forward looking after the best interest of all shareholders in this case !!!!

[russman] 31/5/2023 05:16

Both these uplifts will compensate for lower than expected new business and some significant non-recurring costs incurred such as the third party costs in relation to the strategic review.

[smithie6] 30/5/2023 09:23

"lower than expected new business"

...keeps on failing to deliver

(no position)

[chrisdgb] 25/5/2023 11:43

Trading at net cash, top up for me today......

[arthur_lame_stocks] 25/5/2023 07:17

Well the original news knocked 20pct off the price. I wonder if this news will have the opposite effect.

[baner] 18/5/2023 12:22

Clearly the company should hang up the ”for sale” sign a.s.a.p. STM is worth 50p+ if sold piece by piece and it is the duty of the BOD to look after the best interest of the company and its shareholders. The good thing is that the company is in a strong position financially and the ongoing business should be cash generative. An alternative is of course for them to commence a buy back program - that would be excellent news for those shareholders staying in. For the time being, at least.

[smithie6] 06/5/2023 10:15

...don't think so

the RNS says they just wait for approval of current boss at that subsidiary, & if not approved they get another person (who is approved).

[russman] 06/5/2023 07:08

have to sell up to overcome their regulatory crisis.

[smithie6] 05/5/2023 09:40

..phps me saying IT background was wide of the mark

but

if my memory is correct he was the STM dir. previously responsable for IT

& imo that is why he got the MD job, to do IT development to reduce the labour costs & get profits up. So far , looking just at the news the co. releases, it does not appear to have worked (but phps without it the numbers would be worse). And it has cost quite a bit over the last 5 yrs.

Bit of a foul up imo to invest X million over the last 5 yrs doing in house IT projects (even if subcontracted parts or all of it) to reduce the costs for admin. to then appear to say it has not worked & that plan to rent external IT, with the rental cost being a hit on profits.

[rsymes6] 05/5/2023 08:15

Smithie, where do you get that he has an IT background? Isn't he a chartered accountant by trade/experience?

His STM bio makes no mention of IT. It says - "Alan Kentish trained with a Big 4 accountancy firm in the UK and specialised in financial services audits, qualifying as a Chartered Accountant over 25 years ago. He moved to Gibraltar in 1993, and joined the BDO firm as the founder of their insurance management division. Alan was at the forefront of developing the hugely successful Gibraltar insurance sector, and qualified as an Associate of the Chartered Insurance Institute as well as becoming a qualified Associate of the Institute of Risk Management along the way. The BDO member firm evolved into STM as part of the AIM listing in 2007, with Alan holding the office of Chief Financial Officer at that time, as well as navigating STM through the difficult financial crisis of 2008 and 2009. Alan became the director of business development in 2012 as STM moved into its growth phase,..."

[smithie6] 04/5/2023 14:11

the MD got the job because of his IT background.
...to implement more use of IT & produce operating efficiencies.

to increase the profit.

a) despite investing over ~3 years in using more software the profit has fallen, not risen !

b) the co. is now looking at using external software (at an annual cost) ...to replace the IT that the MD invested in over the last 3-4 yrs

inferring
- poor/bad management/direction & decision making for the in-house software.
clearly the investment has not worked. :-(

- a possible write off for X % of those intangibles assets if not going to produce the assumed savings or thrown away if replaced by external software.

And company BOD & management is unable to do its own planning & strategy and has had to pay external consultants to do it !!
with one assumes a hit to profit numbers

What do the big shareholders think ?
perhaps keen to throw in the towel & get their money back ? tired of too many failed promises ?

:-(

=======

Baner, what do you think about all this ?

[smithie6] 04/5/2023 14:01

they are ok ?

[rsymes6] 04/5/2023 09:58

Things not great it seems.

For further reading whilst waiting on the 2022 results, the solvency reports for the STM insurance company subsidiaries have been posted on their websites.

[lookagain] 04/5/2023 09:28

guidance provided in the Group's trading statement on 18 January 2022. Surely 18Jan23