TCS controlling shareholder increasing stake

TCS Group's controlling shareholder, Oleg Tinkov (with connected persons), intends to increase his beneficial interest.

He plans to purchase up to $10m worth of GDRs of which approximately $1.14m has already been spent on the purchase of 165,617 GDRs at an average price of $6.9 per GDR.

These actions highlight the controlling shareholder's confidence in the group's continued strong performance following the record high IFRS net income it achieved in 1H16.