Stm Share Discussion Threads

[arthur_lame_stocks] 08/9/2023 08:47

It looks like there's a very good chance the deal is going to happen then.

[chrisdgb] 06/9/2023 07:12

Totally agree, looks positive.....................

[lammylover] 05/9/2023 17:05

Deal not quite over the line yet, but negotiations sound very close to deal. More than happy with 67p if agreement comes by 5pm Friday.

[tabhair] 05/9/2023 16:57

STM Group PLC

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

Offer update - revised offer terms and further extension to PUSU Deadline

The board of STM Group is pleased to provide the following update.

On 11 July 2023, the Company announced (the "2.4 Announcement") that it was in discussions with PSF Capital GP II Limited as general partner of PSF Capital Reserve LP ("Pension SuperFund Capital") regarding a possible offer for the issued and to be issued share capital of the Company at a price of 70 pence per share (the "Possible Offer"). In the 2.4 Announcement, Pension SuperFund Capital reserved the right, inter alia, to make an offer on less favourable terms than those described in that announcement with the agreement or consent of the Board of STM Group.

Accordingly, the Board of STM Group has reached agreement in principle on revised key terms of the Possible Offer such that it would be a cash offer for the entire issued and to be issued share capital of the Company at a price of 67 pence per share and would be conditional upon the completion of a disposal of certain parts of the Group that are non-core to the strategy of Pension SuperFund Capital (the "Revised Possible Offer"). As a result, Alan Kentish (a director and shareholder of the Company) has signed heads of terms with STM Group and Pension SuperFund Capital to acquire certain parts of the Group, comprising the UK SIPP businesses and the businesses connected with and including the Master Trust. The acquisition of such parts of the Group would be conditional upon certain regulatory approvals and the Revised Possible Offer completing (the "Proposed Disposal"). The Proposed Disposal would also be subject to Rule 16 of the Code and require the approval of independent shareholders at a general meeting of the Company that would be convened if a firm offer pursuant to Rule 2.7 of the Code is announced by Pension SuperFund Capital.

In light of the Proposed Disposal and Alan Kentish's interest in it, an independent committee of the Board of STM Group, comprising Nigel Birrell, Peter Smith and Therese Neish has been formed (the "Independent Committee") to consider the Revised Possible Offer and the Proposed Disposal. The Independent Committee has confirmed to Pension SuperFund Capital that, should a firm offer be made on the financial terms of the Revised Possible Offer, it would be minded to recommend it unanimously to STM Group's shareholders. Should a firm offer be made, it would be subject to the agreement of other customary terms and conditions, including the approval of the Financial Conduct Authority, the Gibraltar Financial Services Commission, the Malta Financial Services Authority and The Pensions Regulator.

-----------

Brilliant news 👍

Certainly left it late.

[tabhair] 05/9/2023 07:09

Should be an update today, guessing it's another extension.

[chrisdgb] 30/8/2023 11:12

Indeed, let us hope for a positive conclusion....

[baner] 22/8/2023 08:17

Not surprising. Good thing is the predator is now spending a lot of money on advisers, and also putting their reputation in the M&A sector at stake.

[chrisdgb] 22/8/2023 08:06

Extended again..........

[camerongd53] 21/8/2023 20:44

I think tomorrow is both the extended deadline for the takeover offer and the AGM
Could be an interesting AGM!!

[arthur_lame_stocks] 21/8/2023 14:41

I thought it was the current deadline for the takeover offer? Or is the AGM also tomorrow.

[value hound] 21/8/2023 14:36

AGM tomorrow

[chrisdgb] 21/8/2023 14:19

Another deadline looms.........extension?

[tabhair] 09/8/2023 10:28

An extension seems mildly positive for the bid going through, I would think.

If the bid wasn't credible or could be dismissed, they would have done it. An extension suggests the bid is plausible and maybe they are just negotiating the finer points.

Share price seems to be consistently inching up.

[fillipe] 08/8/2023 08:11

Extension to 5pm Aug 22nd.

f

[elsa7878] 07/8/2023 18:13

The deadline can also be extended.

[tabhair] 07/8/2023 12:48

The deadline for indicating whether an offer will be made or not is 5pm tomorrow.

I am not sure if it's positive or negative that we are going to be left waiting until the last minute.

[baner] 07/8/2023 11:44

Tabhair - what do u mean with that?

[tabhair] 07/8/2023 10:24

Going down to the wire.

[pdosullivan] 01/8/2023 07:35

Yes, you are right. For some reason I had 2 August in my head as the deadline but I now see it is the 8th.

[elsa7878] 31/7/2023 13:12

Wonder what happened to the other parties or perhaps they need to run with this one first unless someone wants to offer more...though the offer looks pretty full.

Pension Superfund Capital, a vehicle controlled by Edi Truell, is among a number of parties to have indicated that it wants to make an offer for the company.

An insider connected to another party which had expressed recent interest in STM said that finnCap, the investment bank, was advising the pension master trust on the talks.
Although a stock market minnow with a market capitalisation of little more than £15m, STM is understood to have been identified by Mr Truell as a platform to deliver a comprehensive range of pensions services to clients.
The entrepreneur, who recently took Global Interconnection Group, an energy transmission business, public in Amsterdam, is a veteran of pensions industry innovation.
He helped establish Pension Insurance Corporation, the specialist insurer, and was the architect of the Pension Superfund, one of a new breed of consolidators which has been attempting to gain regulatory approval.

[tabhair] 31/7/2023 10:30

An "Offer Period" has now commenced in respect of the Company in accordance with the rules of the Code. Rule 2.6(a) of the Code requires that Pension SuperFund Capital must, by no later than 5.00 p.m. on 8 August 2023 (London Time), either announce a firm intention to make an offer for STM Group in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.


We will know by Wednesday 8th of August.

[rsymes6] 31/7/2023 10:17

The Form 8.3 disclosures make interesting reading e.g. Arron Banks now up to just over 2%.

[arthur_lame_stocks] 30/7/2023 22:27

It might be a bit soon to expect news.