6 Jun 2014 13:47
TCS GROUP HOLDING PLC
TCS Group Holding PLC Announces Results of AGM
Moscow, Russia -- 6 June 2014. TCS Group Holding PLC (TCS LI) (the "Group" or the "Company"), Russia's leading provider of online retail financial services,including "Tinkoff Credit Systems" Bank ("TCS Bank") and Tinkoff Online Insurance, announces the results of its Annual General Meeting of shareholders (AGM) held earlier today.
The AGM was held at the registered office of the Company at 4 Profiti Ilia Street, 4046 Germasogeia, Limassol, Cyprus and had a quorum of 957,788,551votes present, corresponding to94.78% in number of the votes carried or conferred by the shares giving a right to be present and vote at the meeting. The AGM was chaired by Mr Oleg Tinkov, Chairman of the Board of Directors.
The AGM passed all the proposed resolutions, in particular:
· Re-appointment of PricewaterhouseCoopers Limited as auditor of the Company. The Board of Directors was authorised to determine the remuneration of the auditor;
· The Meeting received and accepted the Group's Annual Report;
· Re-election of Martin Cocker and Philippe Delpal to the Board of Directors. Martin Cocker will serve as Chairman of the Audit Committee and a member of the Remuneration Committee and Philippe Delpal will be a member of the Audit Committee and Remuneration Committee;
· The Board of Directors was granted authority to buy back class A shares or interests in class A shares including global depository receipts;
The Minutes of the AGM will be available for viewing at the registered office of the Company and available on the National Storage Mechanism of the UK Listing Authority, located at www.hemscott.com/nsm.do
For enquiries:
Tinkoff Credit Systems Bank Darya Ermolina, Head of PR + 7(495) 648 1000 (ext. 2009) d.ermolina@tcsbank.ru
| Tinkoff Credit Systems Bank Peter Russell, IR Director +44 20 3691 2049 ir@tcsbank.ru
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FTI Consulting London Larisa Kogut-Millings +44 (0) 20 3727 1364
| FTI Consulting Moscow Maria Shiryaevskaya +7 495 795 06 23
|
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. In order to support its 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.
Since its launch in 2007 by Mr. Oleg Tinkov, one of the best known Russian entrepreneurs with a long track record of creating successful businesses, the Group has grown into a leader in the Russian credit card market, with the third largest credit card loan portfolio and a market share of 7.3% based on non-delinquent receivables (according to Central Bank of Russia (CBR) data, as of 1 April 2014). As of March 2014, the Group has issued 4.1 mln cards.
In addition to a market-leading credit card offering, the Group has developed a successful online retail deposits programme. The Group's other innovative lines of business include Tinkoff Online Insurance, which enables the Group to underwrite and sell its own innovative online insurance products, and Tinkoff Mobile Wallet, mobile payment solutions and financial services for Russian consumers.
As of 31 December 2013, the Group's total assets amounted to USD 3 bn, net loans and advances to customers stood at USD 2.3 bn and customer accounts (deposits) amounted to USD 1.3 bn. In 2013, the Group generated a net profit of USD 181 mln and net interest income of USD 843 mln. The Group is well capitalised with its total capital ratio and Tier 1 capital ratio of 25.03% and 19.85%, respectively, in accordance with Basel III methodology.