13 Jun 2016 07:00
13th June 2016 For immediate release
MAIL.RU GROUP LIMITED
Early repayment of Gazprombank loan facility
June 13th, 2016. Mail.Ru Group Limited (LSE: MAIL, hereinafter referred as "the Company" or "the Group"), one of the largest Internet companies in the Russian-speaking Internet market, today announces that it has undertaken the early repayment of the Gazprombank loan facility. With the early repayment of the loan all related covenants have now been removed with immediate effect.
The RUB 22.2bn loan facility was taken in September 2014 to partly fund the acquisition of the remaining 48.01% of VK and was a fixed interest, 4 year term loan facility. At the Q1 2016 trading update on 21st April 2016 the company announced that it had moved into a net cash position of RUB 573m. Since then the company has received the second tranche of the payment connected with the sale of Headhunter and the cash generative capability of the business remains unchanged.
For Further Information Please Contact:
Investors
Matthew Hammond
Phone: +971 505 56 1315
Email: hammond@corp.mail.ru
Press
Madina Tayupova
Phone: +7 926 510 50 21
Email: m.tayupova@corp.mail.ru
Notes to editors
About Mail.Ru Group
Mail.Ru Group (LSE:MAIL, listed since November 5, 2010) is a leading company in the Russian-speaking Internet markets (Russia is Europe's largest Internet market measured by the number of users, comScore). Mail.Ru Group's sites reach approximately 94% of Russian Internet users on a monthly basis (comScore, December 2015) and the Company is the fifth largest Internet business globally, based on the total time spent (comScore, December 2015).
In line with the 'communitainment' (communication plus entertainment) strategy, the Company is moving rapidly to build an integrated communications and entertainment platform. The Company owns Russia's leading email service and one of Russia's largest internet portal, Mail.Ru (TNS, all Russia, age 12-64, December 2015). The Company operates the three largest Russian language social networks, Vkontakte (VK), Odnoklassniki (OK) and Moi Mir (My World), and Russia's largest online games business (including such gaming titles as Warface, Armored Warfare, Skyforge and Perfect World). The Company's portfolio also includes Mail.Ru Agent and ICQ - two instant messaging services popular in Russia and CIS.
The Company holds minority equity stakes in Qiwi (1.31%) and a number of small venture capital investments in various Internet companies in Russia, Ukraine and Israel.