Magnit Announces the Results of the BOD Meeting

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MAGNIT PJSC (MGNT) 
Magnit Announces the Results of the BOD Meeting 
 
03-Aug-2018 / 11:51 MSK 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
                         Press Release 
 
                         Krasnodar 
 
                         August 03, 2018 
 
                         Magnit Announces the Results of the BOD Meeting 
 
  Krasnodar, August 03, 2018: 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 August 01, 2018. 
 
Please be informed that on August 01, 2018 the BOD meeting was held (minutes 
        of the BOD meeting of PJSC "Magnit" are w/o No. of August 03, 2018). 
 
                         The meeting agenda: 
 
  1) Approval of the budget of PJSC "Magnit" Group of Companies for the 2nd 
  half of 2018. 
 
7 (seven) of the 7 (seven) BOD members participating in the BOD meeting were 
present. 
 
                 Quorum to hold the BOD meeting with this agenda is present. 
 
                         Voting Results: 
 
                         Items 1.1 
 
Mowat Gregor William - "for", Demchenko Timothy - "for", Simmons James Pat - 
        "for", Makhnev Alexey Petrovich - "for", Foley Paul Michael - "for", 
      Prysyazhnyuk Alexander Mikhailovich - "against", Ryan Charles Emmitt - 
                         "for". 
 
                         Items 1.2 
 
Mowat Gregor William - "for", Demchenko Timothy - "for", Simmons James Pat - 
        "for", Makhnev Alexey Petrovich - "for", Foley Paul Michael - "for", 
   Prysyazhnyuk Alexander Mikhailovich - "for", Ryan Charles Emmitt - "for". 
 
                         The decisions were made. 
 
                         Content of the decisions: 
 
                         Item 1.1 on the agenda: 
 
 "To approve the budget of PJSC "Magnit" Group of Companies for the 2nd half 
                         of 2018." 
 
                         Item 1.2 on the agenda: 
 
         "The management of PJSC "Magnit" shall present detailed information 
  according to the comments of the members of the Board of Directors of PJSC 
                         "Magnit" at the next Board meeting." 
 
                         For further information, please contact: 
 
Dina Svishcheva Deputy Director, Investor Relations 
 
                          Email: [e-mail] 
 
                    Office: [phone] x 15101 
 
Media Inquiries          Media Relations Department 
 
                                    [e-mail] 
 
                         Note to editors: 
 
   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, 2018, Magnit operated 37 distribution centers 
   and 16,960 stores (12,503 convenience, 244 hypermarkets, 213 supermarkets 
   and 4,000 drogerie stores) in 2,808 cities and towns throughout 7 federal 
                         regions of the Russian Federation. 
 
      In accordance with the unaudited IFRS management accounts for 1H 2018, 
     Magnit had revenues of RUB 595 billion and an EBITDA of RUB 44 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. 
 
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.:   5832 
EQS News ID:    710705 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

August 03, 2018 04:51 ET (08:51 GMT)