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TCS Group Holding PLC announces suspension of dividend payments for the remainder of 2019

TCS Group Holding PLC (TCS)


TCS Group Holding PLC announces suspension of dividend payments for the remainder of 2019

11-Jun-2019 / 09:00 MSK


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TCS Group Holding PLC announces suspension of dividend payments for the remainder of 2019

Limassol, Cyprus - 11 June 2019. TCS Group Holding PLC (TCS LI) (the "Group"), Russia's leading provider of online financial and lifestyle services via its Tinkoff.ru ecosystem, today issues an update related to its planned primary capital raising.

On 4 June 2019 the Group upgraded its guidance to net loan growth for FY2019 to at least 60%. To ensure the Company will have the necessary capital to scale up successfully piloted loan products and to seize the current profitable growth opportunity, the Group announced its plan to complete an up to USD300m primary capital raise which would ensure that the Group not only has the necessary capital to seize the growth opportunities identified but also maintains ample capital buffers going forward against the backdrop of ongoing regulatory tightening.
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