REG-TCS Group Holding PLC TCS Group Holding PLC Announces Results of 2020 AGM

TCS HoldingAnnouncement

24/08/2020 15:55

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   TCS Group Holding PLC (TCS)
   TCS Group Holding PLC Announces Results of 2020 AGM

   24-Aug-2020 / 17:53 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 Results of 2020 AGM

    

   Limassol, Cyprus - 24 August 2020. TCS Group Holding PLC
   (Company), Russia's leading provider of online retail financial and
   lifestyle services via its Tinkoff.ru financial ecosystem, announces the
   results of its Annual General Meeting of shareholders (AGM) held earlier
   today.

    

   The AGM was held at the registered office of the Company in Limassol,
   Cyprus and had a quorum of 857,469,243 votes present, corresponding
   to 93.2606% in number of the votes carried or conferred by the shares
   giving a right to be present and vote at the meeting. The AGM was chaired
   by Mr. Constantinos Economides, Chairman of the Board of Directors.

   The AGM duly passed all resolutions, in particular:

   1.       Re-appointment of PricewaterhouseCoopers Limited as auditor of
   the Company at a remuneration to be determined by the Board of Directors.

   2.       Re-election of Mr. Jacques Der Megreditchian to the Board of
   Directors.

   3.       The remuneration of the members of the Board of Directors for the
   year 2020 is capped at US$530,000.

   4.       The Board of Directors was granted authority to buy back class A
   shares or interests in class A shares including global depositary
   receipts, up to the maximum (10% of subscribed capital) permitted by
   Cyprus law.

   The Meeting also received and accepted the Company's Annual Report for
   2019.

   The Chairman of the Audit Committee and Remuneration Committee of the
   Board of Directors remain respectively Mr. Martin Cocker and Mr. Jacques
   Der  Megreditchian.

   Copies of the resolutions passed at the AGM (other than resolutions
   concerning ordinary business) have been submitted to the UK Listing
   Authority, and will shortly be available for inspection at the UK Listing
   Authority's National Storage Mechanism which is located
   at  1 https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

    

   For enquiries:
   Tinkoff                        Tinkoff

   Artem Lebedev                  Larisa Chernysheva
   PR Department                  IR Department

   + 7 495 648-10-00 (ext. 2202)  + 7 495 648-10-00 (ext. 2312)

   Alexandr Leonov                Neri Tollardo

   + 7 495 648-10-00 (ext. 35738) +44 7741 078383

    2 pr@tinkoff.ru                3 ir@tinkoff.ru

                                   

    

   About Tinkoff 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, 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 since October 2013.

    

   The Group's key business is Tinkoff Bank, a fully online bank that serves
   around 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 13.5%. The 2Q 2020 IFRS net income of TCS Group
   Holding PLC amounted to RUB 10.2 bn. The ROE was 40.0%.

    

   With no branches, the Group serves all its customers remotely via online
   channels and a cloud-based call centre. The centre is staffed by over
   10,000 employees, making 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, and in 2019, 2018, 2016 and 2015, the Best Consumer Digital
   Bank in Russia. In 2017 and 2013, the Banker recognised Tinkoff Bank 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: RAG
   TIDM:          TCS
   LEI Code:      549300XQRN9MR54V1W18
   Sequence No.:  82759
   EQS News ID:   1122539


    
   End of Announcement EQS News Service

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References

   Visible links
   1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=333fb31560dc718dad1b700362fb3e1c&application_id=1122539&site_id=refinitiv2&application_name=news
   2. mailto:pr@tinkoff.ru
   3. mailto:ir@tcsbank.ru


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