23.03.2011

Transfer of shares according to amendments to JV agreement

The HMS Group (LSE: HMSG), the leading pump manufacturer and provider of flow control solutions and related services in Russia and the CIS, today announces that it has been advised by its controlling shareholder, H.M.S. Technologies Limited (“HMST”), that in accordance with the joint venture agreement dated 24 December 2010 between HMST (the “Joint Venture Agreement”), as described in the Company’s prospectus dated 11 February 2011 relating to the Company’s GDRs and their Admission to the Official List and to trading on the London Stock Exchange’s main market, and amendments to this Joint Venture Agreement dated 18 March 2011 (“Amendments”) .

In connection with the Amendments, 21 March 2011:

  • Mr Tsoy transferred his Class A shares of HMST to Acura Global Limited, a BVI company wholly owned by him,
  • Artem Molchanov and Kirill Molchanov transferred their Class A shares of HMST to Orion Production Limited, a BVI company wholly owned by the Molchanovs.

Mr Tsoy is the Chairman of the Board, Artem Molchanov is a member of the Board and Chief Executive Officer and Kirill Molchanov is a member of the Board and First Deputy Chief Executive Officer of the HMS Group.


For further information, please contact:

HMS Group                                      

Tel+7 (495) 730-66-12                    Alexander Rybin, Extension – 1006

Cell: +7 916 708 12 21                   Nozima Karimova, Extension - 1517