Result of Meeting

LONDON--()--

HMS Hydraulic Machines & Systems Group plc

(the “Company”, and together with its subsidiaries, the “HMS Group”)

HMS Group announces results of its Board of Directors meeting

Moscow, Russia, HMS Hydraulic Machines & Systems Group Plc (the “Company”) (LSE: HMSG) announces that a meeting of the Company’s Board of Directors was held on 10 July 2014 (the “Meeting”). All of the Company’s seven Directors were present at the Meeting.

The following significant matters were considered, discussed and approved at the Meeting:

1) Approval of the new version of the Board of Directors and Managing Director (CEO) Terms of Reference;

2) Election of Mr Nikolay N. Yamburenko as the Chairman of the Board of Directors;

3) Approval of the new version of the Audit Committee Terms of Reference;

4) Election of Messrs Philippe Delpal and Gary Stuart Yamamoto to the Audit Committee and confirmation of Mr Philippe Delpal as the Chairman of the Audit Committee;

5) Election of Messrs Gary Stuart Yamamoto, Philippe Delpal, and Nikolay N. Yamburenko to the Remuneration Committee and confirmation of Mr Gary Stuart Yamamoto as the Chairman of the Remuneration Committee;

6) Establishment of the Special Committee on Strategy and Investments and election of Messrs Nikolay N. Yamburenko, Gary Stuart Yamamoto, and Yury N. Skrynnik to this committee and appointment of Mr Nikolay N. Yamburenko as the Chairman of this committee.

HMS Group Chairman of the Board of Directors Nikolay N. Yamburenko commented:

“I am proud of having full trust expressed by all of the directors and major shareholders of HMS Group. It is important for me to feel their absolute support while assuming my mission as the Chairman of the Board.

I hope that my more than 35 years hands-on experience in pumps business and commitment to the Company will be beneficial for the further development of HMS Group as a recognized leader in the Russian market.

As the Chairman of the Board and a non-executive director I can now afford to invest all my time and efforts in the Company`s development in the best interest of all the Company`s shareholders and other stakeholders”.

***

HMS Group is the leading pump and compressor manufacturer, as well as 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. 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. HMS Group’s global depositary receipts (“GDRs”) are listed under the symbol “HMSG” on the London Stock Exchange.

For further information, please contact:

Vera Timoshenko
Head of Investor Relations
Tel: +7 (495) 730-66-01 x 1302
ir@hms.ru

 

Nozima Karimova
Head of Press Service
Tel: +7 (495) 730-66-10
karimova@hms.ru

Short Name: HMS Group Plc
Category Code: ROM
Sequence Number: 424274
Time of Receipt (offset from UTC): 20140711T130721+0100

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