TCS Group Holding PLC Announces Results of 2018 AGM

Moscow, Russia - 30 May 2018.TCS Group Holding PLC (TCS) (the Group), Russia's leading provider of online retail financial services via its Tinkoff.ru financial supermarket, today announces the results of its Annual General Meeting of shareholders (AGM) held on 29 May 2018.

The AGM was held at the registered office of the Company in Limassol, Cyprus and had a quorum of 904,455,367 votes present, corresponding to 94.19% 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 the following proposed resolutions, in particular:

- Re-appointment of PricewaterhouseCoopers Limited as auditor of the Company.

- The Board of Directors was authorised to determine the remuneration of the auditor.

- Re-election of Mr. Martin Cocker and Mr. Jacques Der Megreditchian to the Board of Directors.

- 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 share capital increase.

- The Board of Directors was granted authority to dispose of unissued shares.

Resolution 8 was not passed.

The Chairman of the Audit Committee and Remuneration Committee of the Board of Directors remain respectively Mr. Martin Cocker and Mr Jacques Der Megreditchian: the composition of the Audit and Remuneration Committees is unchanged.

The Meeting also received and accepted the Company's Annual Report for 2017.

The Minutes of the 2018 AGM will be available for viewing at the registered office of the Company and available on the National Storage Mechanism of the UK Listing Authority, located at www.hemscott.com/nsm.do.

 

For enquiries:
Tinkoff Bank Darya Ermolina Head of PR + 7 495 648-10-00 (ext. 2009) d.ermolina@tinkoff.ru	Tinkoff Bank Larisa Chernysheva IR Department + 7 495 648-10-00 (ext. 2312) ir@tinkoff.ru

About the Group

TCS Group 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 IT 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 2,500 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 May 2018, the bank was the second largest player in the Russian credit card market, with a market share of 11.7%. The 1Q18 IFRS net income of TCS Group Holding PLC amounted to RUB 5.7 bn, ROE grew to 68.5%.

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.