Press-release
Krasnodar
October 14, 2014
PJSC "Magnit" Announces the Change of the Company Name
Krasnodar, October 14, 2014: PJSC "Magnit", Russia's largest food retailer (the
"Company"; MICEX and LSE: MGNT) announces the change of the Company name.
Please be informed that due to the amendments to the Civil Code of the Russian
Federation by the Federal Law № 99-FZ dated May 5, 2014 "On Amendments to
Chapter 4 of Part One of the Civil Code of the Russian Federation and on the
Invalidation of Certain Provisions of the Legislative Acts of the Russian
Federation", the Company name Open Joint Stock Company "Magnit" (OJSC "Magnit")
has been changed to Public Joint Stock Company "Magnit" (PJSC "Magnit").
The Charter of the Company has been amended accordingly based on the decision
made by the general shareholders meeting of the Company on September 25, 2014
(minutes of the general shareholders meeting № w/№ of September 26, 2014).
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 September 30,
2014, Magnit operated 25 distribution centers and over 9,020 stores (7,891
convenience, 243 hypermarkets, and 886 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.