REG-HMS Group HMS Group: Result of Meeting

HMS Hydraulic Machines & SystemsAnnouncement

23/04/2020 16:25

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   HMS Group (HMSG)
   HMS Group: Result of Meeting

   23-Apr-2020 / 18:20 MSK
   Dissemination of a Regulatory Announcement that contains inside
   information according to REGULATION (EU) No 596/2014 (MAR), transmitted by
   EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   HMS Hydraulic Machines & Systems Group plc
   (the "Company", and together with its subsidiaries, the "HMS Group")

    

   Moscow, Russia

   April 23, 2020

    

   HMS Group announces results of its Board of Directors meeting

    

   HMS Group (LSE: HMSG) announces the results of the Company's Board of
   Directors ordinary meeting held trough videoconference call.

   The Directors considered and adopted the following resolutions:

     ▪ Subject to approval by the Company's shareholders at the AGM, to
       extend the buyback program (the "Buyback") in respect of the Company's
       Global Depositary Receipts ("GDRs"), each representing five ordinary
       shares of the Company, for execution during the period of one year
       commencing on the date of the Company's shareholders' approval (if
       obtained) at the AGM.

   The total amount of GDRs subject to the Buyback (taking into account any
   GDRs already owned by the Company) shall not exceed 6% of the subscribed
   capital of the Company at prevailing market prices.

   The GDRs will be purchased by the Company with the assistance of
   Renaissance Capital or any other independent broker as may be further
   determined by the Board of Directors.

   The amount and timing of the planned repurchases will be determined by the
   Company based on its evaluation of its financial condition, business
   opportunities and market conditions at the time, in accordance with market
   practices.

   In addition, the following significant matters were considered, discussed
   and approved:

   1. Approval of the Annual Report of the Company for the financial year
   ended December 31, 2019, the audited consolidated IFRS Financial
   Statements for the financial year ended December 31, 2019, and the audited
   Stand-alone Financial Statements for the financial year ended December 31,
   2019;

   2. Approval of the report of the Company on fulfillment of the financial
   plan (budget) for the financial year ended December 31, 2019.

    

   Contacts:

   Inna Kelekhsaeva, Deputy Head of Capital markets, on telephone: +7 (495)
   730-6601, or email:  1 capital-markets@hms.ru

   Alexander Rybin, Head of Capital markets, on telephone: +7 (495) 730-6601,
   or email:  2 capital-markets@hms.ru

    

   About HMS Group

   HMS Group is the leading pump and compressor manufacturer, as well as the
   provider of flow control solutions and related services for the oil and
   gas, petrochemistry, nuclear and thermal power generation, water and
   wastewater sectors in Russia and the CIS headquartered in Moscow, Russia.
   HMS Group's products are mission-critical elements of projects across a
   diverse range of industries. HMS has a listing on the London Stock
   Exchange in the form of global depositary receipts (LSE: HMSG).

    

   Press Release Information Accuracy Disclaimer

   Information published in press releases was accurate at the time of
   publication but may be superseded by subsequent releases or other
   information.

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   ISIN:           US40425X4079
   Category Code:  ROM
   TIDM:           HMSG
   LEI Code:       254900DDFETNLASV8M53
   OAM Categories: 2.2. Inside information
                   2.3. Major shareholding notifications
                   3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   60145
   EQS News ID:    1028787


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:capital-markets@hms.ru
   2. mailto:capital-markets@hms.ru


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