Stm Share Discussion Threads

[rsymes6] 27/9/2023 14:54

If you google it there's a few articles from about 6 days ago.

[arthur_lame_stocks] 27/9/2023 14:26

Where did you see the Edi Truell announcement please?

[schmally] 27/9/2023 13:48

No news this morning suggests we'll get a late RNS stating a further extension to negotiations. This looks like a bit of a messy deal to me, with no clear indication of how the buyer will utilise the assets they're acquiring. It's puzzling, especially now Edi Truell has announced he's mothballed his Pension Superfund

[lammylover] 27/9/2023 08:41

Hope we get deal done before 5pm, however I don't mind another extension - if we get can 67p, then I'll be happy!

[arthur_lame_stocks] 27/9/2023 08:12

Well no news yet! There'll have to be an RNS at some point today, will it be after close?

[schmally] 26/9/2023 14:53

The Options UK SIPP business currently administers approx 12000 SIPPs, that I would estimate generate revenue of approx £5-6 million, with potential for this to increase significantly if they are now benefitting from increased interest earnings on SIPP cash holdings

[schmally] 26/9/2023 14:08

I've read the deal to be as follows: The offer price will be for the whole business, with the regulated SIPP business then acquired from the buyer as part of an MBO.

[schmally] 26/9/2023 14:02

What needs to be understood, is that the Mercer business included both SIPP & SSAS books of approx equal value, so if only the regulated SIPP business is being retained (SSAS is not FCA regulated), then only approx half the Mercer business will ultimately transfer to the new buyer and half retained as part of AK's MBO.

[tabhair] 25/9/2023 14:07

The acquisition of the SIPP and SSAS
book from Mercer in September 2022
was however particularly pleasing. The
portfolios were acquired at sensible
multiples and add a solid and predictable
revenue stream of circa £2.7 million for
2023 and beyond. The smooth transition
from Mercer and integration into STM
was achieved prior to the year end.

---------------------------

The UK SIPP business that is being sold to Kentish is referenced in the 2022 annual report. It was bought just one year ago from Mercer and is valued at £1.5m.

The company has to provide another update by September 27th. Maybe we will get further clarity on what happens with the piece of the business that's worth 3p.

[rsymes6] 22/9/2023 14:34

So the bidder is offering 3p less without those parts, approx £1.8m less overall(60m shares x 3p)

If you look at the 2022 accounts filed on Companies House for the parts he appears to be interested in, then he's buying net liabilities not net assets. The shareholders funds deficit shown is £1.8m. Maybe he'll be offering £1 for the business:)

[arthur_lame_stocks] 22/9/2023 13:12

If Alan Kentish is buying parts of the business, does that mean we'll get more than 67p for the whole lot or not does anyone know?

[lammylover] 08/9/2023 08:04

Yes, all looks positive here. Shareholders backing deal at 67p. Monies available for bid. Just sit back and relax!

[arthur_lame_stocks] 08/9/2023 07:47

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

[chrisdgb] 06/9/2023 06:12

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

[lammylover] 05/9/2023 16:05

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 15:57

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 06:09

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

[chrisdgb] 30/8/2023 10:12

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

[baner] 22/8/2023 07:17

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 07:06

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

[camerongd53] 21/8/2023 19:44

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 13:41

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

[value hound] 21/8/2023 13:36

AGM tomorrow

[chrisdgb] 21/8/2023 13:19

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