REG-TCS Group Holding PLC TCS Group Holding PLC: Statement regarding termination of discussions

TCS HoldingAnnouncement

16/10/2020 10:05

============

   TCS Group Holding PLC (TCS)
   TCS Group Holding PLC: Statement regarding termination of discussions

   16-Oct-2020 / 12:02 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.

   ══════════════════════════════════════════════════════════════════════════

   THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF  ARTICLE
   7 OF REGULATION (EU) NO 596/2014

   NOT FOR RELEASE,  PUBLICATION OR DISTRIBUTION,  IN WHOLE OR  IN PART,  IN,
   INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A  VIOLATION
   OF THE RELEVANT LAWS OF THAT JURISDICTION

   FOR IMMEDIATE RELEASE

    

   TCS Group Holding PLC: Statement regarding termination of discussions

   TCS  Group  Holding  PLC  ("Tinkoff"  or  "the  Company")  refers  to  its
   announcement of 22 September 2020 that  it was in discussions with  Yandex
   N.V. ("Yandex") regarding a  possible cash and share  offer by Yandex  for
   the entire  issued  and  to  be  issued  share  capital  of  Tinkoff  (the
   "Potential Transaction").

   Following  further  discussions,  including  with  Tinkoff's   controlling
   shareholder, the parties  have agreed  not to proceed  with the  Potential
   Transaction.   Negotiations  between  the  parties  with  respect  to  the
   Potential  Transaction   have   therefore   been   terminated,   effective
   immediately.

   Tinkoff looks forward to continuing to partner with Yandex on current  and
   future projects.  The Tinkoff  team greatly  admires the  Yandex team  and
   wishes them success in building their business in the future.

   Tinkoff looks forward to updating the market on its positive third quarter
   results in due course.

   This announcement has been  made by Tinkoff with  the prior agreement  and
   approval of Yandex.

                                        

   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
                                   

   J.P. Morgan (Sole Financial Adviser to
   TCS)                                                         

   (RUS) Vladimir Blinov / Sergey Zyryaev    Tel: +7 495 967 1000

   (UK) James Robinson / Jonty Edward       Tel: +44 20 7742 4000

    

   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 1H 2020 IFRS net income of TCS Group
   Holding PLC amounted to RUB 19.3bn. The ROE was 38.4%.

   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).

    

   Inside information

   The information contained within this announcement is deemed by Tinkoff to
   constitute  inside  information  as  stipulated  under  the  Market  Abuse
   Regulation (EU) No.596/2014. Upon the publication of this announcement via
   a  Regulatory  Information  Service,   this  inside  information  is   now
   considered to be in the public  domain. The person responsible for  making
   this announcement  is  Chris  Owen,  Tinkoff's advisor  to  the  Board  of
   Directors.

   Other notices

   This announcement is  not intended to,  and does not,  constitute or  form
   part of any offer, invitation or the solicitation of an offer to purchase,
   otherwise acquire,  subscribe  for,  sell or  otherwise  dispose  of,  any
   securities whether pursuant to this announcement or otherwise.

   The distribution of this announcement in jurisdictions outside the  United
   Kingdom may  be  restricted  by  law  and  therefore  persons  into  whose
   possession this  announcement comes  should inform  themselves about,  and
   observe, such restrictions.  Any failure to  comply with the  restrictions
   may constitute a violation of the securities law of any such jurisdiction.

   J.P. Morgan  Securities  plc, which  conducts  its UK  investment  banking
   business as J.P. Morgan Cazenove (J.P. Morgan Cazenove), is authorised  in
   the UK by the Prudential Regulation  Authority and regulated in the UK  by
   the Prudential Regulation Authority and  the FCA. J.P. Morgan Cazenove  is
   acting as financial  adviser exclusively for  Tinkoff and no  one else  in
   connection with the  matters set  out in  this announcement  and will  not
   regard any other person as its client  in relation to the matters in  this
   announcement and will not be responsible to anyone other than Tinkoff  for
   providing the protections afforded to clients of J.P. Morgan Cazenove,  or
   for providing advice in relation to any matter referred to herein.

    

    

    

   ══════════════════════════════════════════════════════════════════════════

   ISIN:          US87238U2033
   Category Code: MSCH
   TIDM:          TCS
   LEI Code:      549300XQRN9MR54V1W18
   Sequence No.:  86063
   EQS News ID:   1141340


    
   End of Announcement EQS News Service

   ══════════════════════════════════════════════════════════════════════════

    3 fncls.ssp?fn=show_t_gif&application_id=1141340&application_name=news&site_id=reuters8

References

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


============