Last checked at 10 Jun 2016 11:22
HMS Hydraulic Machines & Systems Group plc
(the “Company”, and together with its subsidiaries, the “HMS Group”)
HMS Group: Plaintiffs Withdraw Action in Shareholder Derivative Litigation in Cyprus
Moscow, Russia – June 10, 2016 – HMS Group plc (the “Company”) (LSE: HMSG) announces today that
the Company’s indirect shareholder, Mr. German A. Tsoy, and his holding company, Acura Global Limited (BVI), unreservedly withdrew all their claims in the shareholder derivative litigation, originally filed in the District Court of Nicosia, Cyprus in July 2014 against Vladimir Vladimirovich Lukyanenko, Yury N. Skrynnik, their holding company Skye Commercial Corporation (BVI), as well as Artem V. Molchanov, Kirill V. Molchanov, and their holding company Orion Production Limited (BVI), and also Vladimir Matveevich Lukyanenko, in which the Company and its majority shareholder, H.M.S. Technologies Limited were mentioned as nominal defendants
(See http://grouphms.com/press_center/detail.php?ID=4944&sphrase_id=19775 and http://grouphms.com/press_center/detail.php?ID=6044&sphrase_id=19775 for prior announcements).
The withdrawal of the claims was not a result of any settlement agreement, and the Company was not required to pay anything to plaintiffs in connection with this withdrawal of claims.
During a brief hearing before the President of the District Court of Nicosia, Cyprus in the morning on 10 June 2016, the plaintiffs, German A. Tsoy and Acura Global Limited, unreservedly withdrew their action and made a declaration that they have no claim against any of the defendants to the above action. As a result, the case was completely dismissed today, and there is currently no claim whatsoever by the above plaintiffs against the Company, its shareholders or directors.
For more information, please contact:
Alexander Rybin, Head of Capital markets
Tel: +7 (495) 730-6601, email: rybin@hms.ru
Inna Kelekhsaeva, Deputy Head of Capital markets
Tel: +7 (495) 730-6601, email: kelekhsaeva@hms.ru
About HMS Group
HMS Group is the leading pump and compressor manufacturer, as well as 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. HMS Group’s products are mission-critical elements of projects across a diverse range of industries. HMS Group’s global depositary receipts (“GDRs”) are listed under the symbol “HMSG” on the London Stock Exchange.
The forward-looking statements contained herein are based upon various assumptions, many of which are based, in turn, upon further assumptions, which may include without limitation, HMS Group’s examination of historical operating trends, data contained in HMS Group’s records and other data available from third parties. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. HMS Group does not intend to provide any representation or warranty and does not assume any obligation to update any forward-looking statement contained herein.
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