Source - RNS
RNS Number : 7936L
TCS Group Holding PLC
05 October 2016
 

Controlling Shareholder Intends to Invest up to USD 10M in GDRs

 

Moscow, Russia - 5 October 2016. TCS Group Holding PLC (TCS LI) (the "Group"), Russia's leading provider of online retail financial services, including Tinkoff Bank and Tinkoff Insurance, has been notified that the Group's controlling shareholder, Oleg Tinkov (with connected persons), intends to increase his beneficial interest in the Group. He plans to purchase up to USD 10M worth of GDRs of which approximately USD 1.14M has already been spent on the purchase of 165,617 GDRs at an average price of USD 6.9 per GDR.

These actions highlight the controlling shareholder's confidence in the Group's continued strong performance following the record high IFRS net income it achieved in 1H16.

The Group will inform the market on the results of the purchases in due course.

 

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For enquiries:

Tinkoff Bank

Darya Ermolina
Head of PR

+ 7 495 648-10-00 (ext. 2009)

[email protected]

 

Tinkoff Bank

Larisa Chernysheva
IR Department

+ 7 495 648-10-00 (ext. 2312)

[email protected]

 

FTI Consulting London

Elena Kalinskaya/Leonid Fink

+44 (0) 020 3727 1000

 


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. The Group has also developed a "smart courier" network covering almost all cities and towns in Russia which allows next day delivery to many customers.

Tinkoff Bank's product range includes credit, debit and prepaid cards, deposits, co-branded cards, and agent-based mortgage products. With its special focus on mobile, 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 per its five-year strategy, the Group has the ambition to become a financial marketplace, offering both own brand and partner products.

As at 1 September 2016, the bank was the second largest player in the Russian credit card market, with a market share of 9.7%. The Group's 1H 2016 IFRS net income amounted to RUB 4.4 bn.

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.

 

 


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The company news service from the London Stock Exchange
 
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