TCS Group Holding PLC announces BOD changes

Limassol, Cyprus - 25 March 2022. As a part of the ongoing corporate reorganization, TCS Group Holding PLC ("TCS", the "Group"), a leading provider of online financial and lifestyle services, announces the retirement from the Board of Directors of the Group of Mr Oliver Hughes and Mr Pavel Fedorov effective 31 March 2022. In accordance with LR 9.6.11, Oliver Hughes and Pavel Fedorov will also cease to be members of the Strategy Committee.

This is part of an ongoing, wider reorganization which has involved Oliver Hughes and Pavel Fedorov relocating to reside full-time in UAE in March 2022. Other key parts of the Group management team that are focused on international operations are already based in hubs in Cyprus and Southeast Asia.

Ms Maria Gordon will also retire from the Board and its Committees with effect from 31 March 2022. 

All other existing governance and executive arrangements of the Group will remain unchanged. Please bear with us as we make adjustments during this challenging period.

The Group's long-term commitment to best corporate governance practices remains unchanged and the Group expects to announce the appointment of 3 new directors, including INEDs, in the very near future. 

About TCS Group

TCS Group is an innovative provider of digital financial and lifestyle services. Branchless since its inception in 2006, TCS developed a full range of in-house proprietary technology solutions and services, including digital banking, brokerage, acquiring and other merchant solutions, insurance, SME banking and much more.