OREANDA-NEWS. HMS Hydraulic Machines & Systems Plc (the “Company”) (LSE: HMSG), the leading pump and compressor manufacturer as well as provider of flow control solutions and related services in Russia and the CIS, would like to make the following announcement.

On 12 February 2014, the Company received in Cyprus an order of the District Court of Nicosia (the “Order”). The Order was obtained on an ex parte basis by Konstantin Grigorishin, and certain other plaintiffs, against Vladimir Matveevich Lukyanenko, and thirteen other defendants, including the Company, certain of its shareholders and directors, and BNY (Nominees) Limited. Among other things, on its face the Order freezes property of Vladimir Matveevich Lukyanenko and ten other defendants, including the Company, certain of its shareholders and directors, but excluding BNY (Nominees) Limited and two other defendants, for an amount up to EUR 400 million.

The Company is currently seeking advice from counsel on the precise implications of this Order and will make an announcement promptly as soon as such implications are clear. The Company intends to contest vigorously the Order.

On 14 February 2014 the Company has requested and been granted suspension from listing and trading of its GDRs on the Official List and the Main Market of the London Stock Exchange, respectively, as a short term measure, pending further clarification, being sought and made by the Company on the likely impact of the Order.