Lenta Ltd. (LNTA;LNTR)
Lenta Ltd.: Resignation of Director
02-Aug-2019 / 11:13 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Lenta announces resignation of Maxim Bakhtin as non-executive director of
Lenta Ltd.
St. Petersburg, Russia; 2 August, 2019 - Lenta, (LSE, MOEX: LNTA) one of the
largest retail chains in Russia, announces that Maxim Bakhtin has resigned
from the Board of Directors of Lenta Ltd. with an immediate effect.
Maxim Bakhtin, non-executive Director, member of Operation and Capital
Expenditure Committee, has informed the Board that he stepped down from
Lenta's Board on the 2nd August 2019. Maxim Bakhtin has been a non-executive
Director of Lenta Ltd. since May 2019. He also stepped down from the
position of deputy CEO of Severgroup responsible for retail development and
left the company.
Lenta's Chairman, Alexey Mordashov, commented:
"On behalf of the Board I would also like to personally thank Maxim Bakhtin
for his contribution during the transition period starting from acquisition
of Lenta by Severgroup".
About Lenta
- Lenta is the largest hypermarket chain in Russia and the country's third
largest retail chain. The Company was founded in 1993 in St. Petersburg.
Lenta operates 245 hypermarkets in 88 cities across Russia and 131
supermarkets in Moscow, St. Petersburg, and the Siberia, Urals and Central
regions, with a total of approximately 1,468, 978 sq.m. of selling space.
The average Lenta hypermarket store has selling space of approximately
5,500 sq.m. The average Lenta supermarket store has selling space of
approximately 800 sq.m. The Company operates 12 distribution centers.
- The Company's price-led hypermarket formats are differentiated in terms
of their promotion and pricing strategies as well as their local product
assortment. The Company employed approximately 45,759 people as of 31
December 2018[1].
- The Company's management team combines a mix of local knowledge and
international expertise coupled with extensive operational experience in
Russia. Lenta's largest shareholders include Severgroup, which is
committed to maintaining high standards of corporate governance. Lenta is
listed on the London Stock Exchange and on the Moscow Exchange and trades
under the ticker: 'LNTA'.
- A brief video summary on Lenta's business and its Big Data initiative
can be seen here [1].
- For further information please visit www.lentainvestor.com [2], or
contact:
?
? Lenta Russian Media:
? Mariya Filippova
? Head of PR&GR NW Advisors
? Tel: +7 812 380-61-31 ext.:
1892
Victoria Afonina
? E-mail:
maria.filippova@lenta.com
?el:+7 495 795 06 23
E-mail: lenta@nwadvisors.com
Forward looking statements:
This announcement includes statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements can be
identified by the fact that they do not only relate to historical or current
events. Forward-looking statements often use words such as "anticipate",
"target", "expect", "estimate", "intend", "expected", "plan", "goal",
"believe", or other words of similar meaning.
By their nature, forward-looking statements involve risk and uncertainty
because they relate to future events and circumstances, a number of which
are beyond Lenta's control. As a result, actual future results may differ
materially from the plans, goals and expectations set out in these
forward-looking statements.
Any forward-looking statements made by or on behalf of Lenta speak only as
at the date of this announcement. Save as required by any applicable laws or
regulations, Lenta undertakes no obligation publicly to release the results
of any revisions to any forward-looking statements in this document that may
occur due to any change in its expectations or to reflect events or
circumstances after the date of this document.
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[1] FTE (full-time equivalent). Average FTE for FY2018 was 43,283 employees
ISIN: US52634T2006, US52634T1016
Category Code: BOA
TIDM: LNTA;LNTR
LEI Code: 213800OMCE8QATH73N15
Sequence No.: 15529
EQS News ID: 851107
End of Announcement EQS News Service
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(END) Dow Jones Newswires
August 02, 2019 05:13 ET (09:13 GMT)
