MAGNIT PJSC: Magnit BOD Meeting Results

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MAGNIT PJSC (MGNT) 
MAGNIT PJSC: Magnit BOD Meeting Results 
 
03-Nov-2017 / 15:28 CET/CEST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
                         Press Release 
 
                         Krasnodar 
 
                         November 3, 2017 
 
                         Magnit Announces the Results of the BOD Meeting 
 
 Krasnodar, November 3, 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 November 3, 2017. 
 
        Please be informed that on November 3, 2017 the BOD meeting was held 
     (minutes of the BOD meeting of PJSC "Magnit" are w/o No. of November 3, 
                         2017). 
 
                         The meeting agenda: 
 
  1) Determination of the remuneration for the auditor's services. 
 
     The following BOD members were present: V. Gordeychuk, S. Galitskiy, K. 
                         Pombukhchan, 
 
                         A. Shkhachemukov. 
 
      A. Aleksandrov, D. Chenikov and A. Pshenichniy provide d 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. 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: 
 
                         Item 1: 
 
     V. Gordeychuk - "for", A. Aleksandrov - "for", S. Galitskiy - "for", D. 
        Chenikov - "for", K. Pombukhchan - "for", A. Pshenichniy - "for", A. 
                         Shkhachemukov - "for". 
 
                         The decision was made. 
 
                         Content of the decisions and voting results: 
 
                         Item 1 on the agenda: 
 
 "To determine the amount of remuneration of the auditor (Ernst & Young LLC) 
    for the audit of the consolidated financial statements for the year 2017 
      prepared in accordance with IFRS (including the consolidated financial 
 statements prepared in accordance with the Federal law as of 27.07.2010 No. 
                         208-FZ "On consolidated financial statements"). 
 
    The amount of the remuneration of the auditor shall not exceed 1,880,654 
 (one million eight hundred eighty thousand six hundred fifty four three) US 
                         dollars (VAT included). 
 
 The payment shall be effected in Russian rubles at the exchange rate of the 
          Central Bank of the Russian Federation as of the date of payment". 
 
                         For further information, please contact: 
 
   Timothy Post          Head of Investor Relations 
 
                              Email: [e-mail] 
 
                    Office: [phone] x 17600 
 
Dina Svishcheva Deputy Director, Investor Relations 
 
                          Email: [e-mail] 
 
                    Office: [phone] x 15101 
 
Media Inquiries          Media Relations Department 
 
                                    [e-mail] 
 
                         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 September 30, 2017, Magnit operated 36 distribution 
   centers and 15,697 stores (11,743 convenience, 432 hypermarkets and 3,522 
  drogerie stores) in 2,664 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. 
 
ISIN:           US55953Q2021 
Category Code:  MSCU 
TIDM:           MGNT 
LEI Code:       2534009KKPTVL99W2Y12 
OAM Categories: 3.1. Additional regulated information required to be 
                disclosed under the laws of a Member State 
Sequence No.:   4807 
 
End of Announcement EQS News Service 
 
624943 03-Nov-2017 
 
 

(END) Dow Jones Newswires

November 03, 2017 10:28 ET (14:28 GMT)