Hms Hydraulic S Regulatory News (HMSG)

27 Apr 2017 09:39

HMS Group IR Release

Moscow

April 27, 2017

HMS Hydraulic Machines & Systems Group plc

(the “Company”, and together with its subsidiaries, the “HMS Group”)

HMS Group announces results of its Board of Directors meeting

HMS Hydraulic Machines & Systems Group PLC (LSE: HMSG, the "HMS Group") announces the results of the Company’s Board of Directors ordinary meeting (the “Meeting”) held at the Company’s registered address in Limassol, Cyprus on April 25, 2017.

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, 2016, of 5.12 RUB per ordinary share, amounting to a maximum total dividend of 600,000,000.00 RUB (the “Dividends”). The Company has already paid interim dividends based on the Directors' resolution dated December 5, 2016, in the amount of 3.41 RUB per ordinary share.

The Dividends are subject to the approval of the Company’s shareholders at the Annual General Meeting (the “AGM”) to be held on June 20, 2017. Subject to such approval, the Dividends will be paid on June 27, 2017, to shareholders on the Company’s register at close of business (UK time) on June 9, 2017 (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 20, 2017.

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, 2016, the audited consolidated IFRS Financial Statements for the financial year ended December 31, 2016, and the audited Stand-alone Financial Statements for the financial year ended December 31, 2016; Approval of the report of the Company on fulfilment of the financial plan (budget) for the financial year ended December 31, 2016; Recommendation to the Company’s shareholders to re-appoint Deloitte Limited as the auditor of the Company for the financial year ending December 31, 2017, at the AGM to be held on June 20, 2017; Convening of the AGM and approval of the AGM agenda; Approval of Remuneration parameters of the Board of Directors’ members subject to the recommendations of the Remuneration committee dated on April 25, 2017; Approval of the new wording of Group’ Insider policy; Approval of 2016 LTIP Program results subject to the recommendations of the Remuneration committee dated on April 25, 2017; Approval of the Long-Term Incentive Program’s performance targets for 2017 subject to the recommendations of the Remuneration committee dated on April 25, 2017.

For more information, please, contact:

Alexander Rybin, Head of Capital markets, on telephone: +7 (495) 730-6601, or email: capital-markets@hms.ru

Inna Kelekhsaeva, Deputy Head of Capital markets, on telephone: +7 (495) 730-6601 x 1318, or email: capital-markets@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 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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