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TCS Group Holding PLC (TCS)
TCS Group Holding PLC: TCSGH PLC announces termination of pre-IPO
Shareholders' Agreement
27-Dec-2017 / 08:31 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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TCSGH PLC announces termination of pre-IPO Shareholders' Agreement
Moscow, Russia - 27 December 2017. TCS Group Holding PLC (TCS LI) (the
"Group"), Russia's leading provider of online retail financial services
via its Tinkoff.ru financial supermarket, announces that it has been
informed by Tadek Holding & Finance SA, a significant shareholder
controlled by founder Oleg Tinkov, that the Group's shareholders'
agreement of 22 October, 2013 has terminated.
The shareholders' agreement was made between Tadek Holding & Finance SA
and four other companies controlled by Oleg Tinkov, and four additional
pre IPO investors, (1) ELQ Investors II Limited (ELQ), an entity wholly
owned by The Goldman Sachs Group, Inc., (2) Vostok Emerging Finance
(Cyprus) Limited (VEF) (following a reorganization from the original party
Vostok Komi (Cyprus) Limited), (3) Rousse Nominees Limited (BV) a nominee
company holding interests for limited partnerships comprising Baring
Vostok Private Equity Fund IV, and (4) Lorimer Ventures Limited (Lorimer),
an entity wholly owned by Emerging Europe Growth Fund II LLP, managed by
its general partner Horizon Capital GP II LLC.
Lorimer had already ceased to be a party to the Shareholders' Agreement on
disposing of its entire interest in the Group. While ELQ, VEF and BV do
remain significant shareholders and/or GDR holders in the Group, the
Shareholders' Agreement automatically terminated when their aggregate
holdings fell below 10%.
Fuller details of the Shareholders' Agreement can be found under 'General
Information' paragraph 9.9 (pages 247-248) in the Group's IPO Prospectus
of 22 October, 2013, on the Group's website www.tinkoff.ru/eng
For enquiries:
Tinkoff Bank Tinkoff Bank
Darya Ermolina Larisa Chernysheva
Head of PR
IR Department
+ 7 495 648-10-00 (ext. 2009)
+ 7 495 648-10-00 (ext. 2312)
1 d.ermolina@tinkoff.ru
2 ir@tinkoff.ru
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. TCS
Group includes Tinkoff Bank, mobile virtual operator network Tinkoff
Mobile, Tinkoff Insurance, and Tinkoff Software DC, a network of
development hubs across Russia.
The Group was founded in 2006 by the Russian entrepreneur Oleg Tinkov and
has been listed on the London Stock Exchange since October 2013.
With no retail branches, the Group serves its customers remotely via
online channels and its call centre, and operates a network of over 1,800
representatives to ensure smooth delivery of its products. The network
covers all of Russia and allows next day delivery to most customers.
The Group's key business is Tinkoff Bank, Russia's first and only direct
bank offering both own brand and partner retail financial services via its
Tinkoff.ru platform. The product range includes daily banking (credit and
debit cards, payments, money transfers), savings, investments, loyalty
programmes, travel services, SME services, mortgage platform, and
insurance. With its special focus on mobile business, the bank offers
mobile applications both for its customer base (Mobile Bank) and beyond it
(Traffic Fines, MoneyTalk, Card 2 Card instant money transfers).
As at 1 October 2017, the bank was the second largest player in the
Russian credit card market, with a market share of 11.6%. The 9M 2017 IFRS
net income of TCS Group Holding PLC amounted to RUB 12.6 bn, ROE stood at
48.8%.
Banki.ru, Russia's largest financial news portal, named Tinkoff Bank the
Bank of the Year 2016. In October 2016 Tinkoff Bank was named the largest
independent global direct bank by Frost & Sullivan. In 2015 and 2016, the
Global Finance magazine named Tinkoff Bank as the Best Consumer Digital
Bank in Russia. In 2016, the bank also won Global Finance's Best
Integrated Consumer Bank Site award and was named the Best Digital Bank in
the CEE by Euromoney. The bank's mobile application was recognised as the
best in Russia by Markswebb Rank & Report for three consecutive years in
2014, 2015 and 2016, and by Deloitte for four consecutive years from 2013
to 2016.
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: MSCH
TIDM: TCS
LEI Code: 549300XQRN9MR54V1W18
Sequence No.: 5056
End of Announcement EQS News Service
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641851 27-Dec-2017
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References
Visible links
1. mailto:d.ermolina@tinkoff.ru
2. mailto:ir@tcsbank.ru
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