REG-TCS Group Holding PLC TCS Group Holding PLC announces the launch of a new management long-term incentive program and a Key-Employee Retention Programme

TCS HoldingAnnouncement

10/02/2021 07:05

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   TCS Group Holding PLC (TCS)
   TCS Group Holding PLC announces the launch of a new management long-term
   incentive program and a Key-Employee Retention Programme

   10-Feb-2021 / 10:02 MSK
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   TCS Group Holding PLC announces the launch of a new management long-term
   incentive program and a Key-Employee Retention Programme

    

   Limassol, Cyprus - 10 February 2021. TCS Group Holding PLC (TCS LI) (the
   "Group"), Russia's leading provider of online retail financial and
   lifestyle services via its Tinkoff.ru financial ecosystem, announces the
   launch of a new management long-term incentive program (MLTIP) and a
   Key-Employee Retention Programme (KERP).

    

   The Group's original MLTIP launched in 2016 proved very successful in
   motivating and retaining key staff. It will soon come to an end. After
   consulting with stakeholders the Group has therefore decided to scale the
   MLTIP (equity-based) and create a new KERP (cash-based, equity-linked)
   which will initially cover around 300 beneficiaries. These are top- and
   mid-level managers representing all operational divisions of the Group. We
   expect that the KERP will be significantly expanded later this year. 

    

   The equity-based MLTIP includes awards currently totaling 5.35m GDRs and
   vests over 5 years, starting from August 2021.The MLTIP contains a
   standard deferral clause in case of underperformance by the management
   team. The Group plans to fund the MLTIP through a combination of
   opportunistic buy-backs and new share issuance.   

    

    

   For enquiries:
                                  Tinkoff
   Tinkoff
                                  Larisa Chernysheva
   Artem Lebedev                  IR Department
   PR Department
                                  + 7 495 648-10-00 (ext. 2312)
   + 7 495 648-10-00 (ext. 2202)
                                  Neri Tollardo                  
   Alexandr Leonov
                                  +44 7741 078383
   + 7 495 648-10-00 (ext. 35738)
                                   2 ir@tinkoff.ru
    1 pr@tinkoff.ru
                                   

    

   TCS Group Holding PLC

   TCS Group Holding PLC is an innovative provider of online retail financial
   services. It includes Tinkoff Bank, mobile virtual network operator
   Tinkoff Mobile, Tinkoff Insurance, management company Tinkoff Capital,
   Tinkoff Software DC, a network of development hubs in major Russian
   cities, and Tinkoff Education. The Group is currently developing Tinkoff
   ecosystem, which offers financial and lifestyle services.

   The Group was founded in 2006 by Russian entrepreneur Oleg Tinkov and has
   been listed on the London Stock Exchange and on the Moscow Exchange.

   The Group's key business is Tinkoff Bank, a fully online bank that serves
   over 11 mn customers and forms the core of the Tinkoff ecosystem.

   Tinkoff Bank is the second largest player in the Russian credit card
   market, with a share of 13.2%. The 9M 2020 IFRS net income of TCS Group
   Holding PLC amounted to RUB 31.9bn. The ROE was 40.8%.

   With no branches, the Group serves all its customers remotely via online
   channels and a cloud-based call centre. To ensure smooth delivery of the
   Group's products, the Group has a proprietary nationwide network of
   representatives.

   In 2018, Global Finance named Tinkoff Bank the world's Best Consumer
   Digital Bank, in 2019, 2018, 2016 and 2015, the Best Consumer Digital Bank
   in Russia, and in 2019, the Best Consumer Digital Bank in Central and
   Eastern Europe. In 2017 and 2013, the Banker recognised Tinkoff Bank as
   the Bank of the Year in Russia. The bank's mobile app has consistently
   received top industry ratings and awards (in 2013, 2014, 2015, 2016 by
   Deloitte and in 2018 by Global Finance).

    

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   ISIN:          US87238U2033
   Category Code: MSCH
   TIDM:          TCS
   LEI Code:      549300XQRN9MR54V1W18
   Sequence No.:  93304
   EQS News ID:   1167242


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:pr@tinkoff.ru
   2. mailto:ir@tcsbank.ru


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