Press-release
Krasnodar
June 1,
2015
PJSC “Magnit” Announces the Execution
of the Related Party Transaction
Krasnodar, June 1, 2015:
PJSC “Magnit”, Russia’s largest food retailer (the “Company”, the
“Issuer”; MOEX and LSE: MGNT), announces the execution of the
related party transaction on June 1,
2015.
Please be informed that on June 1,
2015 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 under transaction: |
the
Lender – Public Joint Stock Company “Magnit”
the Borrower – Joint Stock Company “Tander” |
| Maturity: |
loan maturity
date – 29.05.2018 |
| Transaction
amount: |
1,787,500,000.00
rubles, which amounts to 2.26% of the balance sheet value of assets
of the issuer |
| Interest
rate: |
12.00% per
annum |
| The assets value of
the issuer as of the closing date of the last reporting period
preceding the transaction execution: |
78,978,786
thousand rubles |
The transaction was approved by the General shareholders meeting
on September 25, 2014 (minutes of the
extraordinary shareholders meeting of PJSC “Magnit” w/o ? 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 March 31, 2015, Magnit operated 28 distribution
centers and over 10,000 stores (8,581 convenience, 300
hypermarkets, and 1,239 drogerie stores) in approximately 2,180
cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS consolidated financial
statements for 2014, Magnit had revenues of RUB 764 billion and an EBITDA of RUB 86 billion. Magnit's local shares are traded
on the Moscow Stock Exchange (MOEX: 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.