HMS Hydraulic Machines & Systems Group plc
(the "Company", and together with its subsidiaries, the "HMS Group")

 

Moscow, Russia

April 23, 2020

 

HMS Group announces results of its Board of Directors meeting

 

HMS Group (LSE: HMSG) announces the results of the Company's Board of Directors ordinary meeting held trough videoconference call.

The Directors considered and adopted the following resolutions:

• 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.

The total amount of GDRs subject to the Buyback (taking into account any GDRs already owned 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:

1. Approval of the Annual Report of the Company for the financial year ended December 31, 2019, the audited consolidated IFRS Financial Statements for the financial year ended December 31, 2019, and the audited Stand-alone Financial Statements for the financial year ended December 31, 2019;

2. Approval of the report of the Company on fulfillment of the financial plan (budget) for the financial year ended December 31, 2019.

 

Contacts:

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

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

 

About HMS Group

HMS Group is the leading pump and compressor manufacturer, as well as the 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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