Press-release
Krasnodar
September 5, 2014
OJSC "Magnit" Announces the Holding of the BOD Meeting
Krasnodar, September 5, 2014: OJSC "Magnit", Russia's largest food retailer
(the "Company", MICEX and LSE: MGNT), is pleased to announce the holding of the
Board of Directors meeting.
On September 5, 2014 the Chairman of the Board of Directors made the decision
to hold the BOD meeting on
September 12, 2014 with the following agenda:
1. Approval of the related party transactions.
2. Determination of the position of the OJSC "Magnit" representative at the
exercise of the voting right on the Retail Import LLC shares in the charter
capital owned by the Company.
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@magnit.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@magnit.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 food retailer. Founded in 1994, the company is
headquartered in the southern Russian city of Krasnodar. As of June 30, 2014,
Magnit operated 24 distribution centers and over 8,600 stores (7,614
convenience, 226 hypermarkets, and 778 drogeries) in approximately 2,000 cities
and towns throughout 7 federal regions of the Russian Federation.
In accordance with the reviewed IFRS consolidated financial statements for 1H
2014, Magnit had revenues of $9,979 million USD and an EBITDA of $1,045 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 one of the largest retailers in Europe.