Press-release
Krasnodar
March 14, 2014
OJSC "Magnit" Announces the Holding of the BOD Meeting
Krasnodar, March 14, 2014: OJSC "Magnit", Russia's largest retailer (the
"Company", the "Issuer", MICEX and LSE: MGNT), is pleased to announce the
holding of the Board of Directors meeting.
On March 14, 2014 the Chairman of the Board of Directors made the decision to
hold the BOD meeting on March 20, 2014 with the following agenda:
1. Determination of OJSC "Magnit" business priorities.
2. Approval of the related party transactions.
3. Determination of the position of the OJSC "Magnit" representative at the
exercise of the voting right on the JSC "Tander" shares owned by the
Company.
For further information, please contact:
Timothy Post Director, Investor Relations
Email: post@gw.tander.ru
Office: +7-861-277-4554 x 17600
Mobile: +7-961-511-7678
Direct Line: +7-861-277-4562
Dina Svishcheva Deputy Director, Investor Relations
Email: Chistyak@gw.tander.ru
Office: +7-861-277-45-54 x 15101
Mobile: +7-961-511-0202
Direct Line: +7-861-277-4562
Company description:
Magnit is Russia's largest retailer. Founded in 1994, the company is
headquartered in the southern Russian city of Krasnodar. As of December 31,
2013, Magnit operated 22 distribution centers and over 8,000 stores (7,200
convenience, 207 hypermarkets, and 686 cosmetics) in more than 1,868 cities and
towns throughout 7 federal regions of the Russian Federation.
In accordance with the unaudited IFRS management accounts for 2013, Magnit had
revenues of $18,202 million USD and an EBITDA of $2,032 million USD. Magnit's
local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) and its GDRs
on the London Stock Exchange (LSE: MGNT) and it has a credit rating from
Standard & Poor's of BB. Measured by market capitalization, Magnit is now
Europe's 2nd largest retailer.