25th Apr 2012 09:30
HMS Hydraulic Machines & Systems Group plc
(the "Company", and together with its subsidiaries, the "HMS Group")
HMS Group Board of Directors recommended distribution of annual dividends at the amount of 12.8 RUB per share
Moscow, Russia - HMS Hydraulic Machines & Systems Group PLC (LSE: HMSG) announces that the Company's Board of Directors at its ordinary meeting held at the Company's registered address in Limassol, Cyprus has recommended the payment by the Company of a final dividend in respect of the financial year ended 31 December 2011 of 12.8 RUR per ordinary share, amounting to a total dividend of RUB 1,499,692,000 (the "Dividends").
The Dividends subject to the approval of the Company's shareholders at the Annual General Meeting to be held on May 21st, 2012. Subject to such approval, the Dividends will be paid on 28 June 2012 to shareholders on the Company's register at close of business (UK time) on 18 May 2012.
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Commenting on the recommendation to distribute dividends, German Tsoy, the Company's Board of Directors Chairman said: "We appreciate investors who acquired their stake during IPO and remained with the Company notwithstanding a market downturn last year. Due to the strong 2011 financial results and the Company's ability to deliver strong returns to shareholders, I'm pleased to say that the Board of Directors made a decision to recommend distribution of the dividends for 2011 financial year. Going forward, the Company plans to stick to the IPO Prospectus in regard to its dividend policy and pay out not less than 25% of the net profit."
The HMS Group is the leading pump manufacturer and provider of flow control solutions and related services to the oil and gas, nuclear and thermal power generation and water utilities sectors in Russia and the CIS. The HMS Group's products are mission-critical elements of projects across a diverse range of industries. It has participated in a number of large-scale infrastructure projects in Russia, including providing pumps and modular equipment to the Vankor oil field and pumping stations on recent trunk pipelines projects linking Russia's core oil producing areas to export ports on the Pacific Ocean and Baltic Sea. The Group reported revenues of RUB 27.5 billion, adjusted EBITDA of RUB 5.5 billion and profit for the period of RUB 3.4 billion for the twelve month ended December 31, 2011. The HMS Group's global depositary receipts ("GDRs") are listed under the symbol "HMSG" on the London Stock Exchange.
For further information, please contact:
| Sergey Klinkov Head of IR Tel: +7 (495) 730-66-01, ext. 1302 | Nozima Karimova Head of Press Service Tel: +7 (495) 730-66-10 |
DISCLAIMER
THIS COMMUNICATION DOES NOT CONSTITUTE AN OFFER OF, OR THE SOLICITATION OF AN OFFER TO BUY OR SUBSCRIBE FOR, GDRs OR OTHER SECURITIES TO ANY PERSON IN ANY JURISDICTION TO WHOM OR IN WHICH SUCH OFFER OR SOLICITATION IS UNLAWFUL AND, IN PARTICULAR, IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE RUSSIAN FEDERATION.
THIS ANNOUNCEMENT IS NOT AN OFFER FOR SALE OF ANY SECURITIES IN THE UNITED STATES. SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"). THE HMS GROUP HAS NOT REGISTERED AND DOES NOT INTEND TO REGISTER ANY PORTION OF ANY OFFERING IN THE UNITED STATES OR TO CONDUCT A PUBLIC OFFERING OF ANY SECURITIES IN THE UNITED STATES.
THIS COMMUNICATION IS ONLY BEING DISTRIBUTED TO AND IS DIRECTED ONLY AT (I) PERSONS WHO ARE OUTSIDE THE UNITED KINGDOM OR (II) INVESTMENT PROFESSIONALS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE "ORDER") AND (III) HIGH NET WORTH ENTITIES, AND OTHER PERSONS TO WHOM IT MAY LAWFULLY BE COMMUNICATED, FALLING WITHIN ARTICLE 49(2) OF THE ORDER (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). THE SECURITIES REFERRED TO IN THIS ANNOUNCEMENT ARE ONLY AVAILABLE TO, AND ANY INVITATION, OFFER OR AGREEMENT TO SUBSCRIBE, PURCHASE OR OTHERWISE ACQUIRE SUCH SECURITIES WILL BE ENGAGED IN ONLY WITH, RELEVANT PERSONS. ANY PERSON WHO IS NOT A RELEVANT PERSON SHOULD NOT ACT OR RELY ON THIS DOCUMENT OR ANY OF ITS CONTENTS.
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