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TCS Group Holding PLC (TCS)
TCS Group Holding PLC: TCSGH PLC announces termination of pre-IPO
Shareholders' Agreement
27-Dec-2017 / 08:31 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
TCSGH PLC announces termination of pre-IPO Shareholders' Agreement
Moscow, Russia - 27 December 2017. TCS Group Holding PLC (TCS LI) (the
"Group"), Russia's leading provider of online retail financial services via
its Tinkoff.ru financial supermarket, announces that it has been informed by
Tadek Holding & Finance SA, a significant shareholder controlled by founder
Oleg Tinkov, that the Group's shareholders' agreement of 22 October, 2013
has terminated.
The shareholders' agreement was made between Tadek Holding & Finance SA and
four other companies controlled by Oleg Tinkov, and four additional pre IPO
investors, (1) ELQ Investors II Limited (ELQ), an entity wholly owned by The
Goldman Sachs Group, Inc., (2) Vostok Emerging Finance (Cyprus) Limited
(VEF) (following a reorganization from the original party Vostok Komi
(Cyprus) Limited), (3) Rousse Nominees Limited (BV) a nominee company
holding interests for limited partnerships comprising Baring Vostok Private
Equity Fund IV, and (4) Lorimer Ventures Limited (Lorimer), an entity wholly
owned by Emerging Europe Growth Fund II LLP, managed by its general partner
Horizon Capital GP II LLC.
Lorimer had already ceased to be a party to the Shareholders' Agreement on
disposing of its entire interest in the Group. While ELQ, VEF and BV do
remain significant shareholders and/or GDR holders in the Group, the
Shareholders' Agreement automatically terminated when their aggregate
holdings fell below 10%.
Fuller details of the Shareholders' Agreement can be found under 'General
Information' paragraph 9.9 (pages 247-248) in the Group's IPO Prospectus of
22 October, 2013, on the Group's website www.tinkoff.ru/eng
For enquiries:
Tinkoff Bank Tinkoff Bank
Darya Ermolina Larisa Chernysheva
Head of PR
IR Department
+ 7 495 648-10-00 (ext.
2009)
+ 7 495 648-10-00 (ext.
2312)
d.ermolina@tinkoff.ru
ir@tinkoff.ru [1]
About the Group
TCS Group Holding PLC is an innovative provider of online retail financial
services operating in Russia through a high-tech branchless platform. TCS
Group includes Tinkoff Bank, mobile virtual operator network Tinkoff Mobile,
Tinkoff Insurance, and Tinkoff Software DC, a network of development hubs
across Russia.
The Group was founded in 2006 by the Russian entrepreneur Oleg Tinkov and
has been listed on the London Stock Exchange since October 2013.
With no retail branches, the Group serves its customers remotely via online
channels and its call centre, and operates a network of over 1,800
representatives to ensure smooth delivery of its products. The network
covers all of Russia and allows next day delivery to most customers.
The Group's key business is Tinkoff Bank, Russia's first and only direct
bank offering both own brand and partner retail financial services via its
Tinkoff.ru platform. The product range includes daily banking (credit and
debit cards, payments, money transfers), savings, investments, loyalty
programmes, travel services, SME services, mortgage platform, and insurance.
With its special focus on mobile business, the bank offers mobile
applications both for its customer base (Mobile Bank) and beyond it (Traffic
Fines, MoneyTalk, Card 2 Card instant money transfers).
As at 1 October 2017, the bank was the second largest player in the Russian
credit card market, with a market share of 11.6%. The 9M 2017 IFRS net
income of TCS Group Holding PLC amounted to RUB 12.6 bn, ROE stood at 48.8%.
Banki.ru, Russia's largest financial news portal, named Tinkoff Bank the
Bank of the Year 2016. In October 2016 Tinkoff Bank was named the largest
independent global direct bank by Frost & Sullivan. In 2015 and 2016, the
Global Finance magazine named Tinkoff Bank as the Best Consumer Digital Bank
in Russia. In 2016, the bank also won Global Finance's Best Integrated
Consumer Bank Site award and was named the Best Digital Bank in the CEE by
Euromoney. The bank's mobile application was recognised as the best in
Russia by Markswebb Rank & Report for three consecutive years in 2014, 2015
and 2016, and by Deloitte for four consecutive years from 2013 to 2016.
Forward-looking statements
Some of the information in this announcement may contain projections or
other forward-looking statements regarding future events or the future
financial performance of the Group and Tinkoff Bank. You can identify
forward looking statements by terms such as "expect", "believe",
"anticipate", "estimate", "intend", "will", "could," "may" or "might", the
negative of such terms or other similar expressions. The Group and Tinkoff
Bank wish to caution you that these statements are only predictions and that
actual events or results may differ materially. The Group and Tinkoff Bank
do not intend to update these statements to reflect events and circumstances
occurring after the date hereof or to reflect the occurrence of
unanticipated events. Many factors could cause the actual results to differ
materially from those contained in projections or forward-looking statements
of the Group and Tinkoff Bank, including, among others, general economic
conditions, the competitive environment, risks associated with operating in
Russia, rapid technological and market change in the industries the Group
operates in, as well as many other risks specifically related to the Group,
Tinkoff Bank and their respective operations.
ISIN: US87238U2033
Category Code: MSCH
TIDM: TCS
LEI Code: 549300XQRN9MR54V1W18
Sequence No.: 5056
End of Announcement EQS News Service
641851 27-Dec-2017
1: mailto:ir@tcsbank.ru
(END) Dow Jones Newswires
December 27, 2017 02:32 ET (07:32 GMT)
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