Press-release
Krasnodar
December 3, 2014
PJSC "Magnit" Announces the Execution of the Related Party Transaction
Krasnodar, December 3, 2014: PJSC "Magnit", Russia's largest food retailer (the
"Company"; MICEX and LSE: MGNT), announces the execution of the transaction on
December 3, 2014.
Please be informed that on December 3, 2014 PJSC "Magnit" (the Lender) and JSC
"Tander" (the Borrower) executed the related party transaction, according to
which the Lender provides the loan of funds to the Borrower which is to be
repaid by the Borrower within the period determined by the contract. The
repayment of the loan and (or) the interest may be effected by the Borrower in
advance, without written notice to the Lender of the loan repayment, by means
of transfer of the loan to the bank details specified in the contract or
otherwise not contradictory to the Civil Code of the Russian Federation (offset
of mutual claims, assignment of a claim, etc.).
The essentials of the transaction are as follows:
Type of transaction: related party transaction
Subject of transaction: loan of funds
Parties and beneficiaries the Lender -publicjoint-stock company "Magnit"
under transaction:
the Borrower-joint-stock company "Tander"
Maturity: loan maturity date -01.1 2.2017
Transaction amount: 2,717,850, 000.00 rubles, which amounts to 3.14%
of the balance sheet value of assets of the
issuer
Interest rate: 12.00% per annum
The assets value of the issuer 86,465, 293thousandrubles
as of the closing date of the
reporting period preceding the
transaction execution and in
respect of which the deadline
for filing the accounting
(financial) report has passed:
The transaction was approved by the General shareholders meeting on September
25, 2014 (minutes of the extraordinary shareholders meeting of PJSC "Magnit" №
w/n 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 drogerie stores) 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.