Yet another listed small-cap is set to exit AIM.
STM Group PLC (AIM:STM), which was set up to consolidate corporate and trustee, has agreed to be taken private for up to £39.8 million, or 67p a share by a bid vehicle backed by the Pension SuperFund, which manages defined benefit schemes.
The initial offer is 30p – more than double the weighted average price over the last three months – with a 7p deferred element of the all-cash offer.
At the open, the shares shot up 10% to 57.5p.