PJSC Magnit Commences the Buy-back of Shares

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MAGNIT PJSC (MGNT) 
PJSC 'Magnit' Commences the Buy-back of Shares 
 
29-March-2019 / 19:30 MSK 
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 | March 29, 2019 
 
PJSC "Magnit" Commences the Buy-back of Shares 
********************************************** 
 
Krasnodar, Russia (March 29, 2019): PJSC "Magnit"(MOEX and LSE: MGNT) (the 
"Company"), one of Russia's leading retailers, commences the Buy-back of 
shares. 
 
On March 29, 2019 the Board of Directors of PJSC "Magnit" approved the terms 
and conditions of the buy-back of 164,710 ordinary shares of PJSC "Magnit" 
(hereinafter - the "Buy-back"). 
 
Ordinary shares of PJSC "Magnit" will be purchased on the Moscow Exchange by 
JSC "Tander" (a subsidiary of the Company, hereinafter "Tander"), for the 
purposes of share award remuneration to the President of the Company, Jan 
Dunning, in accordance with the terms of his employment contract. 
 
                        Free cash flow will be used to finance the Buy-back. 
 
Tander has entered into an agreement with Renaissance Broker Limited 
("Renaissance") to conduct the Buy-back on its behalf and to make trading 
decisions under the Buy-back independently of the Company and Tander. Under 
the terms of the Buy-back, the maximum number of shares purchased is 
164,710. The Buy-back will commence on 1 April 2019 and will end no later 
than 5 April 2019 (inclusive) . 
 
The maximum purchase price is 4,070 rubles per ordinary share and has been 
determined as closing price on the Moscow Exchange as of March 27, 2019. 
 
Renaissance will purchase the Company's ordinary shares for its own account 
(i.e. as principal) and sell them on to Tander at a price linked to the 
average price on the Moscow Exchange for the buyback period, determined in 
accordance with terms agreed between Tander and Renaissance. Renaissance 
will make its trading decisions in relation to the purchase of the Company's 
ordinary shares independently of, and uninfluenced by, the Company and 
Tander. 
 
Renaissance has agreed to make the purchases of ordinary shares on the 
Moscow Exchange in connection with the Buy-back in accordance with certain 
pre-set parameters, including those relating to price and volume, as set out 
in the EU Market Abuse Regulation (596/2014) and Commission Delegated 
Regulation (2016/1052). 
 
For the avoidance of doubt, no purchases will be made in the United States 
and no purchases of the Company's Global Depositary Receipts will be made 
under the Buy-back. Nevertheless, announcements about transactions made 
under the Buy-back will be made through the Company's website, Interfax news 
wire and the Regulatory Information Service. 
 
Information on the executed transactions will be disclosed on a regular 
basis in accordance with applicable law. 
 
For further information, please contact: 
 
Dmitry Kovalenko Media Inquiries 
 
Director for Investor Relations Media Relations Department 
 
Email: [e-mail] Email: [e-mail] 
 
Office: [phone] 
 
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 December 31, 2018, Magnit operated 37 distribution 
centers and 18,399 stores (13,427 convenience, 467 supermarkets and 4,505 
drogerie stores) in 2,976 cities and towns throughout 7 federal regions of 
the Russian Federation. 
 
In accordance with the audited IFRS results for 2018, Magnit had revenues of 
RUB 1,237 billion and an EBITDA of RUB 90 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: 2.2. Inside information 
Sequence No.:   8011 
EQS News ID:    793875 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

March 29, 2019 12:30 ET (16:30 GMT)