Tinkov announced a historic moment at the bank’s parent company

After the conversion of TCS Group shares, Tinkov’s share of votes dropped to 35%. The businessman believes that this is an important step for the future of the company.

Oleg Tinkov announced a “historic moment” at TCS Group Holding, the group that controls Tinkoff Bank. On the website of the London Stock Exchange, a message appeared about a decrease in the businessman’s stake in the group by converting Class B shares into Class A shares.

The message of the exchange indicates that as a result of the conversion, the share of Tinkov’s voting shares decreased from 84 to 35%. Each class B share has ten votes, class A shares one paper gives one vote.

According to the businessman, these changes were an important step towards the transformation of TCS Group into a public company. “I think it will be good for everyone. Now every share has the same weight, ”he said.

According to Tinkov, today’s announcement paves the way for major new changes, which will be announced in the next few months.

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