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MAGNIT PJSC / Miscellaneous - High Priority
MAGNIT PJSC: BoD Meeting Results
18-Sep-2017 / 15:23 CET/CEST
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Press-release
Krasnodar
September 18, 2017
Magnit Announces the Results of the BOD Meeting
Krasnodar, September 18, 2017: Magnit PJSC, one of Russia's leading
retailers (the "Company", "Issuer"; MOEX and LSE: MGNT), is pleased to
announce the results of the BOD meeting held on September 18, 2017.
Please be informed that on September 18, 2017 the BOD meeting was held
(minutes of the BOD meeting of PJSC "Magnit" are w/o No. of September 18,
2017).
The meeting agenda:
1) Determination of the position of the PJSC "Magnit" representative at
the exercise of the voting right on the Retail Import LLC shares in the
charter capital owned by the Company
2) Determination of the position of the PJSC "Magnit" representative at
the exercise of the voting right on the LLC "Alkotrading" shares in the
charter capital owned by the Company.
The following BOD members were present: V. Gordeychuk, S. Galitskiy, K.
Pombukhchan.
A. Shkhachemukov, A. Aleksandrov, D. Chenikov and A. Pshenichniy provided
their written opinions on the items of the agenda of the BOD meeting of PJSC
"Magnit".
The number of the BOD members participating in the meeting, including
written opinions of
A. Shkhachemukov, A. Aleksandrov, D. Chenikov and A. Pshenichniy amounts to
not less than half of the number of the BOD members determined by the
Charter of the Company.
Quorum to hold the BOD meeting with this agenda is present.
Voting Results:
Items 1 and 2:
V. Gordeychuk - "for", A. Aleksandrov - "for", S. Galitskiy - "for", D.
Chenikov - "for", K. Pombukhchan - "for", A. Pshenichniy - "for", A.
Shkhachemukov - "for".
The decisions were made.
Content of the decisions and voting results:
Item 1 on the agenda:
"To recommend the sole executive body of PJSC "Magnit", which is the sole
shareholder of Retail Import LLC to make the following decision at the
exercise of the voting right on shares in the charter capital of Retail
Import LLC owned by the Company:
"To approve the conclusion of the major transaction - additional agreement
to the Agreement on fulfillment of obligations No. 10 of 30.01.2015
(hereinafter - the Agreement) between Retail Import LLC (hereinafter - the
Party-1) and Open Joint Stock Company "Rosspirtprom" (Taxpayer Id. Number
7730605160, location: bld. 21, 34 Kutuzovskiy prospect, 121170, Moscow)
(hereinafter - the Party-2), which Retail Import LLC plans to execute in
future with the following essentials:
- total limit amount (maximum amount of available guarantees under
obligations), specified in the Guarantee agreement 1 - not more than
1,200,000,000 (One billion two hundred million) rubles.
Hereby to provide the Chief Executive Officer of Retail Import LLC with the
right to sign the additional agreements which change the terms and
conditions of the Agreement within the limits hereof".
Item 2 on the agenda:
"To recommend the sole executive body of PJSC "Magnit", which is the sole
shareholder of LLC "Alkotrading" to make the following decision at the
exercise of the voting right on shares in the charter capital of LLC
"Alkotrading" owned by the Company:
"1. To elect Oleg Sidnin (passport of the Russian Federation - Information
is not disclosed according to the Federal law "On Personal Data") as LLC
"Alkotrading" CEO for another term of 5 (five) years from September 20,
2017.
2. To conclude an additional agreement to the employment agreement with Oleg
Sidnin, LLC "Alkotrading" CEO, in accordance with this decision".
For further information, please contact:
Timothy Post Head of Investor Relations
Email: post@magnit.ru
Office: +7-861-277-4554 x 17600
Dina Svishcheva Deputy Director, Investor Relations
Email: Chistyak@magnit.ru
Office: +7-861-277-4554 x 15101
Media Inquiries Media Relations Department
press@magnit.ru
Company description:
Public Joint Stock Company "Magnit" is one of Russia's leading retailers.
Founded in 1994, the company is headquartered in the southern Russian city
of Krasnodar. As of June 30, 2017, Magnit operated 35 distribution centers
and 14,844 stores (11,114 convenience, 430 hypermarkets and 3,300 drogerie
stores) in 2,567 cities and towns throughout 7 federal regions of the
Russian Federation.
In accordance with the reviewed IFRS consolidated financial statements for
1H 2017, Magnit had revenues of RUB 555 billion and an EBITDA of RUB 49
billion. Magnit's local shares are traded on the Moscow 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.
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Archive at www.dgap.de/ukreg
ISIN: US55953Q2021
Category Code: MSCH
TIDM: MGNT
Sequence No.: 4641
End of Announcement EquityStory.RS, LLC News Service
610597 18-Sep-2017
(END) Dow Jones Newswires
September 18, 2017 09:24 ET (13:24 GMT)
