25.04.2012

HMS Group Board of Directors recommended distribution of annual dividends at the amount of 12.8 RUB per share

Moscow, Russia – HMS Hydraulic Machines & Systems Group PLC (LSE: HMSG) announces that the Company’s Board of Directors at its ordinary meeting held at the Company’s registered address in Limassol, Cyprus has recommended the payment by the Company of a final dividend in respect of the financial year ended 31 December 2011 of 12.8 RUR per ordinary share, amounting to a total dividend of RUB 1,499,692,000 (the “Dividends”).

The Dividends subject to the approval of the Company's shareholders at the Annual General Meeting to be held on May 21st, 2012. Subject to such approval, the Dividends will be paid on 28 June 2012 to shareholders on the Company's register at close of business (UK time) on 18 May 2012.


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Commenting on the recommendation to distribute dividends, German Tsoy, the Company’s Board of Directors Chairman said: "We appreciate investors who acquired their stake during IPO and remained with the Company notwithstanding a market downturn last year. Due to the strong 2011 financial results and the Company’s ability to deliver strong returns to shareholders, I’m pleased to say that the Board of Directors made a decision to recommend distribution of the dividends for 2011 financial year. Going forward, the Company plans to stick to the IPO Prospectus in regard to its dividend policy and pay out not less than 25% of the net profit."

The HMS Group is the leading pump manufacturer and provider of flow control solutions and related services to the oil and gas, nuclear and thermal power generation and water utilities sectors in Russia and the CIS. The HMS Group’s products are mission-critical elements of projects across a diverse range of industries. It has participated in a number of large-scale infrastructure projects in Russia, including providing pumps and modular equipment to the Vankor oil field and pumping stations on recent trunk pipelines projects linking Russia’s core oil producing areas to export ports on the Pacific Ocean and Baltic Sea. The Group reported revenues of RUB 20 billion, adjusted EBITDA of RUB 4.4 billion and profit for the period of RUB 2,9 billion for the nine months ended September 30, 2011. The HMS Group’s global depositary receipts (“GDRs”) are listed under the symbol “HMSG” on the London Stock Exchange.


For further information, please contact:

Sergey Klinkov
Head of IR 
Tel: +7 (495) 730-66-01, ext. 1302 klinkov@hms.ru
Nozima Karimova
Head of Press Service
Tel: +7 (495) 730-66-10
karimova@hms.ru

 

DISCLAIMER

THIS COMMUNICATION DOES NOT CONSTITUTE AN OFFER OF, OR THE SOLICITATION OF AN OFFER TO BUY OR SUBSCRIBE FOR, GDRs OR OTHER SECURITIES TO ANY PERSON IN ANY JURISDICTION TO WHOM OR IN WHICH SUCH OFFER OR SOLICITATION IS UNLAWFUL AND, IN PARTICULAR, IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE RUSSIAN FEDERATION.

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