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HMS Group completed the conversion of a part of its GDRs into shares - no change in control

Conversion of the global depositary receipts held by JSC HMS Holding, the Company’s major shareholder, and withdrawal of the underlying shares in the Company to JSC HMS Holding - no change in control.

HMS HYDRAULIC MACHINES & SYSTEMS GROUP PLC (LSE: HMSG) (the “Company”) announces today that on 16 December 2019 its major shareholder JSC HMS Holding (“HMS Holding”) completed the process of cancellation (disposal by HMS Holding) of 2,924,207 global depositary receipts issued under the Company’s depositary receipts program representing 14,621,035 shares in the Company (the “Underlying Shares”) and withdrawal of (acquisition by HMS Holding of) the Underlying Shares from the depositary (the Bank of New York Mellon) in the name of HMS Holding (the “Conversion”).

As a result of the Conversion, HMS Holding retains full control over the majority shareholding in the Company being a direct holder of 71.51% of the Company’s issued share capital, and, consequently, the Conversion neither triggers an obligation of the Company or HMS Holding to make any mandatory offer to the GDR holders, nor lead to any change in corporate governance of the Company.

Further details of the transactions above are available here:

For more information, please, contact:
Alexander Rybin, Head of Capital markets, on telephone: +7 (495) 730-6601, or email:
Inna Kelekhsaeva, Deputy 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 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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