Result of Meeting
HMS Group Plc
HMS Hydraulic Machines & Systems Group plc
(the “Company”, and together with its subsidiaries, the “HMS Group”)
HMS Group announces results of its Board of Directors meeting
Moscow, Russia – HMS Hydraulic Machines & Systems Group PLC (LSE: HMSG) announces that the Company’s Board of Directors held an ordinary meeting (the “Meeting”) at Sun Hall Hotel Athens Avenue 6, 6302, Larnaca, Cyprus on September 23, 2016. All of the Company’s Directors were present at the Meeting.
The following significant matters were considered, discussed and approved at the Meeting:
1. The Audit Committee Report;
2. Six months 2016 IFRS Consolidated Financial Statements and the adjusted Financial Plan (budget) for the year 2016;
3. Adjusted KPI target value during the Award Year 2016 of Long-term Incentive Program;
4. The new Company’s Dividend policy:
As a general rule the Company targets to pay out in the region of 50 % of profit for the period attributable to shareholders of the Company subject to capital constraints such as debt and liquidity position and forecasts.
The Company plans to pay out dividends basically twice a year.
5. Appointment of Mr. Vladimir Lukyanenko as a new member of the following Board committees:
a. Audit Committee
b. Remuneration Committee
c. Special Committee on strategy and investments
About HMS Group
HMS Group is the leading pump and compressor manufacturer, as well as provider of flow control solutions and related services to the oil and gas, nuclear and thermal power generation and water utilities sectors in Russia and the CIS. HMS Group’s products are mission-critical elements of projects across a diverse range of industries. It has participated in a number of large-scale infrastructure projects in Russia, including providing pumps and modular equipment to the Vankor oil field and pumping stations on recent trunk pipelines projects linking Russia’s core oil producing areas to export ports on the Pacific Ocean and Baltic Sea. HMS Group’s global depositary receipts (“GDRs”) are listed under the symbol “HMSG” on the London Stock Exchange.
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