REG-TCS Group Holding PLC TCS Group Holding PLC notification

TCS HoldingAnnouncement

02/03/2020 08:35

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   TCS Group Holding PLC (TCS)
   TCS Group Holding PLC notification

   02-March-2020 / 11:32 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 notification

   Moscow, Russia - 02 March 2020. Further to its statement on 27 February,
   TCSGH has been informed of further details of court hearings, involving
   the Group's founder, Mr. Oleg Tinkov.

   The hearings, now underway in London, are in response to allegations of
   under-reporting of tax by the U.S. Internal Revenue Service with respect
   to Mr Tinkov.
   Mr Tinkov is expected to remain in London for the duration of these
   proceedings, having been granted bail after a warrant for his detention
   was issued. Mr Tinkov has informed us that his legal team is working to
   resolve this issue as soon as possible.

   Mr Tinkov is attending these court hearings in his capacity as a private
   individual - this situation does not impact any of the operating companies
   in Tinkoff Group (including Tinkoff Bank, Tinkoff Insurance and Tinkoff
   Mobile).

    

   Furthermore, this situation does not affect the functioning of either the
   TCSGH Board of Directors or the Management Board of Tinkoff Bank. Mr
   Tinkov is not a member of either of these Boards. All day-to-day
   operational decisions are taken at the Management Board levels of the Bank
   and other Operating Companies in the Group.

    

   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 10 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 2019 IFRS net income of TCS Group
   Holding PLC amounted to RUB 25.1 bn. The ROE was 59%.

   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: MSCM
   TIDM:          TCS
   LEI Code:      549300XQRN9MR54V1W18
   Sequence No.:  49793
   EQS News ID:   987083


    
   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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