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TCS Group Holding PLC (TCS)
TCS Group adds new participants to its long-term management incentive and
retention plan
18-Apr-2019 / 10:00 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 adds new participants to its long-term management incentive and
retention plan
Limassol, Cyprus - 18 April 2019. TCS Group Holding PLC (TCS LI)
(the "Group") Russia's leading provider of online financial and lifestyle
services via its Tinkoff.ru ecosystem, announces a further expansion and
deepening of its long-term management incentive and retention plan
(MLTIP). The Board in Q1 2019 approved an increase in the number of
participants, making awards to 10 new participants.
The Group had previously announced that the target total size of the MLTIP
pool would be nearly 5.6% of the Group's current share capital.
Each MLTIP wave is awarded over six years, materially subject to the
fulfilment of annual KPIs. All participants are employees of the Group,
working full time in the Russian Federation.
The aim of this initiative, is to ensure that the interests of the broader
management team are closely aligned with the interests of shareholders to
grow the Group's value, as it continues to grow the scale and scope of its
operations.
Oleg Tinkov, the founder of Tinkoff Bank, said: "Not so many companies in
Russia have similar long-term incentive plans, and in the conservative
financial industry our reward system is truly one of a kind.
Our LTIP scheme covers some 100 people - my partners and business
co-owners - and we are planning to add more participants to this program
in the future. I am particularly proud that most of the LTIP participants
started their careers at Tinkoff from entry-level positions, with
approximately 10% of them joining the Company as call centre operators.
Newly eligible participants are an integral part of the team that commits
every effort to making Tinkoff one of the most innovative financial
companies globally. I invite my teammates to share our success and I am
confident that our long-term incentive plan will keep them motivated to
drive further business growth, seek best innovative solutions and make
everything possible for our new achievements."
For enquiries:
Tinkoff Bank
Tinkoff Bank
Larisa Chernysheva
Darya Ermolina IR Department
Head of PR
+ 7 495 648-10-00 (ext. 2312)
+ 7 495 648-10-00 (ext. 2009)
2 ir@tinkoff.ru
1 d.ermolina@tinkoff.ru
About the Group
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, and Tinkoff Software DC, a network of
development hubs in major Russian cities. The Group also has Tinkoff.ru,
an evolving ecosystem that 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 since October 2013.
The Group's key business is Tinkoff Bank, the country's first and only
direct bank and the core of the Tinkoff.ru ecosystem.
Tinkoff Bank is the second largest player in the Russian credit card
market, with a share of 11.8%. The 2018 IFRS net income of TCS Group
Holding PLC amounted to RUB 27.1 bn (a record high year net income in the
Group's history), ROE grew to 74.7%.
With no branches, the Group serves all its customers remotely via online
channels and a cloud-based call centre staffed by over 10,000 employees,
which makes it one of the largest in Europe. To ensure smooth delivery of
the Group's products, the Group has a nationwide network of over 2,500
representatives.
In 2018 Global Finance named Tinkoff Bank the world's Best Consumer
Digital Bank, in 2018, 2016 and 2015, the Best Consumer Digital Bank in
Russia, and in 2017 and 2013 The Banker recognised it as the Bank of the
Year in Russia. The bank's mobile app has been consistently praised by
local and global independent experts as the best of its kind (in 2013,
2014, 2015, 2016 by Deloitte and in 2018 by Global Finance).
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 Tinkoff 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 Tinkoff
Bank wish to caution you that these statements are only predictions and
that actual events or results may differ materially. The Group and Tinkoff
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 Tinkoff 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, Tinkoff Bank and their respective operations.
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ISIN: US87238U2033
Category Code: MSCM
TIDM: TCS
LEI Code: 549300XQRN9MR54V1W18
Sequence No.: 8251
EQS News ID: 801585
End of Announcement EQS News Service
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References
Visible links
1. mailto:d.ermolina@tinkoff.ru
2. mailto:ir@tcsbank.ru
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