REG - TCS Grp Hldg PLC - Planned Share Purchases by Pre-IPO Shareholders <Origin Href="QuoteRef">TCSq.L</Origin>

TCS HoldingAnnouncement

06/09/2014 02:12

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RNS Number : 3571J
TCS Group Holding PLC
11 June 2014 
 
TCS GROUP HOLDING PLC 
 
Planned Share Purchases by Pre-IPO Shareholders 
 
Moscow, Russia - 11 June 2014. TCS Group Holding PLC (TCS LI) (the "Group"),
Russia's leading provider of online retail financial services, including
"Tinkoff Credit Systems" Bank ("TCS Bank") and Tinkoff Online Insurance, today
announces that it has received indications from certain investors of their
intention to increase their holdings, independently of one another, as
follows: 
 
·     from founder and controlling shareholder Oleg Tinkov and connected
persons, purchases up to USD 10 mln, 
 
·     from the pre-IPO minority shareholders Vostok Nafta, Goldman Sachs and
Baring Vostok Private Equity Fund IV, acting independently of one another,
purchases up to USD 8.5 mln in aggregate, and 
 
·     from the senior management team purchases up to USD 750,000 in
aggregate. 
 
The timing and amounts of purchases will depend on market conditions and
applicable law and regulation. 
 
For enquiries: 
 
 Tinkoff Credit Systems Bank Peter Russell, IR Director +44 20 3691 2049ir@tcsbank.ru  Tinkoff Credit Systems Bank Darya Ermolina, Head of PR + 7(495) 648 1000 (ext. 2009)d.ermolina@tcsbank.ru  
 FTI Consulting LondonLarisa Millings +44 (0)20 3727 1364                              FTI Consulting MoscowMaria Shiryaevskaya+7 495 795 06 23                                                   
 
 
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. In order
to support its branchless platform, the Group has also developed a "smart
courier" network covering almost 600 cities and towns in Russia which allows
next day delivery to many customers. 
 
Since its launch in 2007 by Mr. Oleg Tinkov, one of the best known Russian
entrepreneurs with a long track record of creating successful businesses, the
Group has grown into a leader in the Russian credit card market, with the
third largest credit card loan portfolio and a market share of 7.3% based on
non-delinquent receivables (according to Central Bank of Russia (CBR) data, as
of 1 April 2014). As of 1 June 2014, the Group has issued over 4.3 mln credit
cards. 
 
In addition to a market-leading credit card offering, the Group has developed
a successful online retail deposits programme. The Group's other innovative
lines of business include Tinkoff Online Insurance, which enables the Group to
underwrite and sell its own innovative online insurance products, and Tinkoff
Mobile Wallet, mobile payment solutions and financial services for Russian
consumers. 
 
As of 31 March 2014, the Group's total assets amounted to RUB 101.2 bn, net
loans and advances to customers stood at RUB 75 bn and customer accounts
(deposits) amounted to RUB 43.1 bn. In Q1 2014, the Group generated a net
profit of RUB 362.3 mln and net interest income of RUB 7.4 bn. 
 
The Group is well capitalised with its total capital ratio and Tier 1 capital
ratio of 22.3% and 17.3%, respectively, in accordance with Basel III
methodology. 
 
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 TCS 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 TCS Bank wish to caution you that
these statements are only predictions and that actual events or results may
differ materially. The Group and TCS 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 TCS 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, TCS Bank and their respective operations. 
 
This information is provided by RNS
The company news service from the London Stock Exchange