MAGNIT PJSC: PJSC Magnit announces a material fact about information, which, in the issuer's opinion, is price sensitive

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MAGNIT PJSC (MGNT) 
MAGNIT PJSC: PJSC Magnit announces a material fact about information, which, 
in the issuer's opinion, is price sensitive 
 
16-Feb-2018 / 07:17 CET/CEST 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
                         Press-release 
 
                         Krasnodar 
 
                         February 16, 2018 
 
   PJSC Magnit announces a material fact about information, which, in the 
            issuer's opinion, is price sensitive 
 
  Krasnodar, February 16, 2018: PJSC Magnit, a leading Russian retailer (the 
"Company"; MOEX and LSE: MGNT), announces a material fact about information, 
                         which, in the issuer's opinion, is price sensitive: 
 
Sergey Nikolaevich Galitskiy, the Company's founder and largest shareholder, 
     informed the Company today that he had entered into an agreement with a 
subsidiary of VTB Bank (PJSC) to sell of his 29,656,200 (twenty nine million 
six hundred and fifty six thousand two hundred) shares in the Company (29.1% 
of the total number of outstanding shares) and that he intended to step down 
         as the General Director of the Company and a member of its Board of 
  Directors. The closing of the sale of his shareholding is conditional upon 
   the necessary approval by the FAS of Russia and upon terms and conditions 
                         customary for this type of transaction. 
 
    The Company, on its own behalf and on behalf of its shareholders and all 
          employees, would like to express their profound gratitude and deep 
  appreciation to Sergey Nikolaevich Galitskiy for his efforts to create and 
  build a unique business in Russia and to wish him every success in all his 
                         future endeavors. 
 
The Company and the purchaser of the shares intend to continue the Company's 
         dividend policy and to pay out part of the Company's profits to its 
      shareholders as early as in the second half of 2018. Concurrently, the 
   Company intends to consider the possibility of a share repurchase plan in 
         2018. Part of the shares so repurchased is proposed to be used as a 
                         long-term incentive for the Company's management. 
 
For further information, please contact: 
**************************************** 
 
   Timothy Post Head of Investor Relations 
 
                Email: [e-mail] [1] 
 
                Office: [phone] x 17600 
 
                       Direct Line: [phone] 
Dina Svishcheva Deputy Director, Investor Relations 
 
                      Email: [e-mail] [2] 
 
                    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 December 31, 2017, Magnit operated 37 distribution 
 centers and 16,350 stores (12,125 convenience, 243 hypermarkets, 208 Magnit 
          Family stores and 3,774 drogerie stores) in 2,709 cities and towns 
                     throughout 7 federal regions of the Russian Federation. 
 
  In accordance with the unaudited IFRS management accounts for 2017, Magnit 
 had revenues of RUB 1,143 billion and an EBITDA of RUB 92 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: 2.2. Inside information 
Sequence No.:   5210 
 
End of Announcement EQS News Service 
 
654951 16-Feb-2018 
 
 
1: mailto:[e-mail] 
2: mailto:[e-mail] 
 

(END) Dow Jones Newswires

February 16, 2018 01:17 ET (06:17 GMT)