TCS GROUP HOLDING PLC
TCS Group Holding PLC (TCS)
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO 596/2014
TCS Group Holding PLC: notification of the sale of a 35.08% holding in the Company's ordinary shares
Limassol, Cyprus - 28 April 2022. The Board of Directors of TCSGH Plc ("TCS Group", or the "Company"), the 100% shareholder of Tinkoff Bank, has today been informed that family trusts associated with its founder have, in a series of transactions, disposed of their entire interest in the Company. Interros, a leading Russian investment group with a diverse portfolio of assets including in banking, has acquired an interest in TCS Group, and consequently now holds approximately 35.08% of the outstanding shares in the Company.
TCS Group welcomes the new investment by Interros - a local partner with a proud history of acting as a responsible investor and custodian of assets in Russia. The Chairman of the Management Board of Tinkoff Bank, Stanislav Bliznyuk, commented: "We believe that this investment from Interros marks the start of a new phase in Tinkoff's history. Our new shareholder is clearly interested in the group's business performance, talented management team and unique DNA, which is based, first and foremost, on its "customer first" approach. Our management team remains committed to upholding Tinkoff's values, to the group's strategic business development initiatives, and to creating sustainable value for our shareholders."
Vladimir Potanin, President of Interros, commented: "As a long-term financial investor, Interros is committed to supporting Tinkoff in retaining its market leadership in Russia. We genuinely believe that, with Interros as a new shareholder in combination with the bank's best-in-class management team, Tinkoff will be able to further expand their product offering and take their customer service to the next level, thus creating substantial value for shareholders."
Tinkoff's founder, Oleg Tinkov, said: "I'm proud that, together with my team, I have managed to build the best bank in the country entirely from scratch. Everyone in the industry would agree that Tinkoff is now one of the best digital banks in the world. It is therefore the perfect time for me to retire and devote more of my time to looking after my health and my beloved family."
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About TCS Group
TCS Group is an innovative provider of digital financial and lifestyle services. Branchless since its inception in 2006, TCS developed a full range of in-house proprietary technology solutions and services, including digital banking, brokerage, acquiring and other merchant solutions, insurance, SME banking and much more.
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| ISIN: | US87238U2033 |
| Category Code: | MSCH |
| TIDM: | TCS |
| LEI Code: | 549300XQRN9MR54V1W18 |
| Sequence No.: | 158426 |
| EQS News ID: | 1339007 |
| End of Announcement | EQS News Service |
