MAGNIT PJSC: PJSC Magnit Announces the Decisions of the Board

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MAGNIT PJSC (MGNT) 
MAGNIT PJSC: PJSC 'Magnit' Announces the Decisions of the Board 
 
31-Oct-2018 / 19:22 MSK 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
Press Release | Krasnodar | October 31, 2018 
 
PJSC "Magnit" Announces the Decisions of the Board 
************************************************** 
 
Krasnodar, Russia (October 31, 2018): Magnit PJSC (MOEX and LSE: MGNT; 
Company, Group), one of Russia's leading retailers, announces the decisions 
of the Board of Directors taken on the meeting held on October 30, 2018. 
 
The Board has made a decision to call Extraordinary General Meeting. Among 
other Items, the agenda will include the consideration of the preliminary 
dividend payment in January 2019, based on the 9M 2018 financial results. 
The Board has recommended to pay dividends on PJSC "Magnit" shares in the 
amount of 14,000,581,949.90 Rubles which constitutes 137.38 Rubles per one 
ordinary share, and set December 21, 2018 as a dividend record date. 
 
The Board has discussed the key principles of investment and financial 
policies of PJSC "Magnit" and requested the management to provide more 
detailed analysis of certain policy aspects. 
 
The Board has considered the dividend policy and agreed to the proposal to 
make dividend payments twice a year. The management shall provide the 
updated version of the dividend policy together with the investment and 
financial policies at the next Board meeting. 
 
The management updated the Board of Directors on the transformation strategy 
execution, including developing new CVP for main store formats, changes to 
the operations management model, customer engagement communication strategy, 
private label programme upgrades, category management optimisation, the 
logistics strategy as well as other key strategic projects. The Board also 
considered 9M and 3Q 2018 results of PJSC "Magnit" and its subsidiaries 
presented by the management and acknowledged the positive trend in 
like-for-like growth resulting from CVP improvement, better category 
management and more efficient promo activity as well as higher efficiency of 
new stores opened this year, supported by higher sales density in the new 
stores compared to the existing store base. 
 
In line with its strategy of further enhancing the Company's internal 
controls, the Board approved the Company's internal audit charter that 
provides for its internal controls framework and sets forth the principal 
objectives and functions of internal control function. As a result, the 
Company now has a fully functional internal control department. 
 
Please follow the link below to read full text of the Board decisions: 
 
http://ir.magnit.com/en/press-releases/reg-filings_2018/ 
 
For further information, please contact: 
 
Petr Molchanov Alisa Kvadzba 
 
Chief Investment Officer IR manager 
 
Email: [e-mail]: [e-mail] 
 
Office: [phone] x 45000 Office: [phone] x 17601 
 
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 reviewed IFRS consolidated financial statements 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.:   6392 
EQS News ID:    740173 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

October 31, 2018 12:22 ET (16:22 GMT)