12th May 2016 14:45
Controlling Shareholder of TCS Group Holding PLC increases stake
Moscow, Russia - 12 May 2016. TCS Group Holding PLC (TCS LI) (the "Group"), Russia's leading provider of online retail financial services, including Tinkoff Bank and Tinkoff Insurance, was notified of the following transactions.
The Group's controlling shareholder Oleg Tinkov (with connected persons) increased his beneficial interest in the Group by purchasing a further 2,343,154 GDRs between 19 April and 4 May 2016 within a price range of USD 3.447 to USD 4.00 per GDR at an average price per GDR of USD 3.93 representing approximately 1.28% of the Group's issued share capital, resulting in overall aggregate GDR holdings of 5,343,154 GDRs representing 2.93% of the Group's issued share capital. The GDRs were purchased under a trading plan set up on 15 April 2016.
Following these transactions Oleg Tinkov and connected persons have increased their aggregate interests from 52.09% to 53.38% of the entire issued share capital of the Group.
Separately, Altruco Trustees Limited, the trustee of the ESOP trust and of the private trusts of the seven key managers (ESOP participants) of Tinkoff Bank, purchased for one of the private trusts an additional 100,000 GDRs on 12/13 April 2016 at an average price of USD 3.4257 per GDR. This brings Altruco Trustees Limited's aggregate current holdings in the Group for the private trusts to 245,843 GDRs.
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. The Group has also developed a "smart courier" network covering almost 600 cities and towns in Russia which allows next day delivery to many customers. Tinkoff Bank's product range includes credit, debit and prepaid cards, deposits, co-branded cards, and agent-based mortgage products. 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 per its five-year strategy, the Group has the ambition to become a financial marketplace, offering both own brand and partner products. As at 1 April 2016, the bank was the second largest player in the Russian credit card market, with a market share of 8.7%. As at 1 March 2016, the bank issued over 5.7 m credit cards. The bank is well capitalised: its CBR N1 total capital ratio stood at 11.8% as at 1 February 2016. The Group's FY 2015 IFRS net income amounted to RUB 1.9 bn. In 2015, the Global Finance magazine named Tinkoff Bank as the Best Internet Retail Bank in Russia. In 2013, Tinkoff Bank was recognised as the Bank of the Year and the most profitable bank in Russia by the Banker magazine, the world's premier banking and finance resource, published by the Financial Times Group.
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