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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: post@magnit.ru [1]
Office: +7-861-277-4554 x 17600
Direct Line: +7-861-277-4562
Dina Svishcheva Deputy Director, Investor Relations
Email: Chistyak@magnit.ru [2]
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 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:post@gw.tander.ru
2: mailto:Chistyak@gw.tander.ru
(END) Dow Jones Newswires
February 16, 2018 01:17 ET (06:17 GMT)
