Press-release
Krasnodar
November 14, 2014
PJSC "Magnit" Announces the Holding of the BOD Meeting
Krasnodar, November 14, 2014: PJSC "Magnit", Russia's largest food retailer
(the "Company", MICEX and LSE: MGNT), is pleased to announce the holding of the
Board of Directors meeting.
On November 14, 2014 the Chairman of the Board of Directors made the decision
to hold the BOD meeting on
November 17, 2014 with the following agenda:
1. Determination of the recommended price for major related party transactions
to be approved by the EGM of PJSC "Magnit".
2. Determination of the form and the text of the voting ballots on the items
to be considered at the EGM of PJSC "Magnit".
3. Determination of the position of the PJSC "Magnit" representative at the
exercise of the voting right on the JSC "Tander" shares owned by the
Company.
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.© 2014 PR Newswire
