Press-release
Krasnodar
August 11, 2015
PJSC "Magnit" Announces the Execution of the Related Party Transaction
Krasnodar, August 11, 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 August 11, 2015.
Please be informed that on August 11, 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 - 09.08.2018 |
| Transaction amount: | 3,890,000,000.00 rubles, which amounts to 4.08% of the balance sheet value of assets of the issuer |
| Interest rate: | 11.8% per annum |
| The assets value of the issuer as of the closing date of the last reporting period preceding the transaction execution: | 95,412,330 thousand rubles |
The transaction was approved by the General shareholders meeting on June 4, 2015 (minutes of the annual General shareholders meeting of PJSC "Magnit" w/o - of June 5, 2015).
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 |
| Media Inquiries | Media Relations Department press@magnit.ru |
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, 2015, Magnit operated 29 distribution centers and over 10,700 stores (8,890 convenience, 311 hypermarkets, and 1,527 drogerie stores) in approximately 2,233 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the unaudited IFRS management accounts for 1H 2015, Magnit had revenues of RUB 455 billion and an EBITDA of RUB 49 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.
