HMS Hydraulic Machines & Systems Group plc
(the "Company", and together with its subsidiaries, the "HMS Group")
April 25, 2019
HMS Group announces results of its Board of Directors meeting
Moscow, Russia - HMS Hydraulic Machines & Systems Group PLC (LSE: HMSG) announces the results of the Company's Board of Directors ordinary meeting held at Four Seasons hotel, Limassol, Cyprus on April 24, 2019.
The Directors considered and adopted the following resolutions:
* Recommendation of the payment by the Company of a final dividend in respect of the financial year ended December 31, 2018, of Rub 5.97 per ordinary share, amounting to a maximum total final dividend of Rub 699,465,659.19 (the "Dividends"). The Company has already paid interim dividends based on the Directors' resolution dated December 6, 2018 in the amount of Rub 3.84 per ordinary share.
The Dividends are subject to the approval of the Company's shareholders at the Annual General Meeting to be held on June 21, 2019. Subject to such approval, the Dividends will be paid on July 01, 2019 to shareholders on the Company's register at close of business (UK time) on June 14, 2019 (the "Record Date");
* Subject to approval by the Company's shareholders at the AGM, to extend the buyback program (the "Buyback") in respect of the Company's Global Depositary Receipts ("GDRs"), each representing five ordinary shares of the Company, for execution during the period of one year commencing on the date of the Company's shareholders' approval (if obtained) at the AGM on June 21, 2019.
The total amount of GDRs subject to the Buyback (taking into account any GDRs already acquired by the Company) shall not exceed 6% of the subscribed capital of the Company at prevailing market prices.
The GDRs will be purchased by the Company with the assistance of Renaissance Capital or any other independent broker as may be further determined by the Board of Directors.
The amount and timing of the planned repurchases will be determined by the Company based on its evaluation of its financial condition, business opportunities and market conditions at the time, in accordance with market practices.
In addition the following significant matters were considered, discussed and approved:
- Approval of the Annual Report of the Company for the financial year ended December 31, 2018, the audited consolidated IFRS Financial Statements for the financial year ended December 31, 2018, and the audited Stand-alone Financial Statements for the financial year ended December 31, 2018;
- Approval of the report of the Company on fulfillment of the financial plan (budget) for the financial year ended December 31, 2018;
- Recommendation to the Company's shareholders to re-appoint Deloitte Limited as the auditor of the Company for the financial year ending December 31, 2018, at the Annual General Meeting to be held on June 21, 2019 (the "AGM");
- Convening of the AGM and approval of the AGM agenda;
- Approval of 2018 LTIP Program results subject to the recommendations of the Remuneration committee dated on April 24, 2019;
- Election of Mr. Vyacheslav Tsoy as a Non-Executive director of HMS Group to serve until the next General Meeting on June 21, 2019 where he will be eligible for re-election, with regard to the necessity to expand the Board from 8 to 9 members.
Inna Kelekhsaeva, Deputy Head of Capital markets, on telephone: +7 (495) 730-6601, or email: email@example.com
Alexander Rybin, Head of Capital markets, on telephone: +7 (495) 730-6601, or email: firstname.lastname@example.org
About HMS Group
HMS Group is the leading pump and compressor manufacturer, as well as the provider of flow control solutions and related services for the oil and gas, petrochemistry, nuclear and thermal power generation, water and wastewater sectors in Russia and the CIS headquartered in Moscow, Russia. HMS Group's products are mission-critical elements of projects across a diverse range of industries. HMS has a listing on the London Stock Exchange in the form of global depositary receipts (LSE: HMSG).
Annual report 2017
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