22nd Dec 2016 10:32
HMS Group IR Release
Moscow
December 22, 2016
HMS HYDRAULIC MACHINES & SYSTEMS GROUP PLC
(the “Company”, and together with its subsidiaries, the “HMS Group”)
Moscow, Russia – December 22, 2016 - HMS Hydraulic Machines & Systems Group Plc (LSE: HMSG) announces today that it has been informed regarding the following:
Acura Global Limited (“Acura”), a BVI company wholly owned by German A. Tsoy, has transferred its Class A shares in H.M.S. Technologies Limited (“HMST”) to German A. Tsoy; Mr. Tsoy remains a party to the joint venture agreement in relation to HMST, the majority shareholder of the Company, and his beneficial economic interest in the Company remains the same (19.75%); Acura is undergoing voluntary dissolution, which has not been yet completed; The transfer and Acura’s dissolution are driven by the amendments to the Russian tax legislation on controlled foreign companies and other anti-offshore measures of Russian authorities.The Company does not anticipate any changes to its corporate governance as a result of this transfer.
For more information, please, contact:
Inna Kelekhsaeva, Deputy Head of Capital markets, on telephone: +7 (495) 730-6601,
or email: [email protected]
Alexander Rybin, Head of Capital markets, on telephone: +7 (495) 730-6601,
or email: [email protected]
About HMS Group
HMS Group is the leading pump and compressor manufacturer, as well as 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).
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