REG-TCS Group Holding PLC TCS Group Holding PLC announces suspension of dividend payments for the remainder of 2019

TCS HoldingAnnouncement

11/06/2019 07:00

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   TCS Group Holding PLC (TCS)
   TCS Group Holding PLC announces suspension of dividend payments for the
   remainder of 2019

   11-Jun-2019 / 09:00 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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   NOT FOR  RELEASE,  PUBLICATION  OR  DISTRIBUTION, IN  WHOLE  OR  IN  PART,
   DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION IN WHICH THE  RELEASE,
   PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

   TCS Group Holding PLC announces suspension of dividend payments for the
   remainder of 2019

   Limassol, Cyprus - 11 June 2019. TCS Group Holding PLC (TCS LI) (the
   "Group"), Russia's leading provider of online financial and lifestyle
   services via its Tinkoff.ru ecosystem, today issues an update related to
   its planned primary capital raising.

   On 4 June 2019 the Group upgraded its guidance to net loan growth for
   FY2019 to at least 60%. To ensure the Company will have the necessary
   capital to scale up successfully piloted loan products and to seize the
   current profitable growth opportunity, the Group announced its plan to
   complete an up to USD300m primary capital raise which would ensure that
   the Group not only has the necessary capital to seize the growth
   opportunities identified but also maintains ample capital buffers going
   forward against the backdrop of ongoing regulatory tightening.

   In connection therewith, it is hereby announced that the Group will not
   pay any dividends for the remainder of 2019.

   Oliver Hughes, CEO of Tinkoff, commented: "The Tinkoff Team has been
   listening to preliminary investor feedback. Part of this feedback is that
   investors would, on the whole, like to see a temporary suspension of
   dividends to further support credit growth and capital cushions. They
   believe that this is right given the current plans to raise primary
   capital." 

    

   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 12.4% as of 1 April 2019. The 1Q'19 IFRS net
   income of TCS Group Holding PLC amounted to RUB 7.2 bn, ROE stood at
   64.4%.

    

   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).

    

   This announcement is not an offer for sale of securities in the United
   States or any other country. The securities to which this announcement
   relates have not been and will not be registered under the U.S. Securities
   Act of 1933, as amended (the "Securities Act") or with any securities
   regulatory authority of any state of the United States or other
   jurisdiction and may not be offered, sold, pledged or otherwise
   transferred in the United States except pursuant to registration or an
   exemption from the registration requirements of the Securities Act and in
   compliance with any applicable state securities laws.

   This announcement is directed only at persons (i) outside the United
   Kingdom; (ii) that have professional experience in matters relating to
   investments falling within Article 19(5) of the Financial Services and
   Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); (iii)
   falling within Article 49(2)(a) to (d) ("high net worth companies,
   unincorporated associations etc.") of the Order; or (iv) to whom this
   announcement may otherwise be directed without contravention of Section 21
   of the Financial Services and Markets Act 2000 (all such persons together
   being referred to as "relevant persons"). This announcement must not be
   acted on or relied on by persons who are not relevant persons. Any
   investment or investment activity to which this announcement relates is
   available only to relevant persons and will be engaged in only with
   relevant persons.

   In member states of the EEA, this announcement is directed only at persons
   who are "qualified investors" within the meaning of Article 2(1)(e) of
   Directive 2003/71/EC, as amended.

    

    

   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.:  9714
   EQS News ID:   822231


    
   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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