MAGNIT PJSC (MGNT)
PJSC 'Magnit' Announces the Board of Directors' Resolutions
06-Sep-2019 / 09:51 MSK
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Press Release | Krasnodar | September 6, 2019
PJSC "Magnit" Announces the Board of Directors' Resolutions
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Krasnodar, Russia (September 6, 2019): Magnit PJSC (MOEX and LSE: MGNT;
"Company"), one of Russia's leading retailers, announces the resolutions of
the Board of Directors taken at the meeting held on September 4, 2019.
The meeting of the Board of Directors of PJSC "Magnit" was held on September
4, 2019 (Minutes of the BOD meeting are recorded w/o No. of September 5,
2019).
The Board approved the early termination of powers of Tatiana Knyazeva
effective from September 9, 2019 and elected Anna Bobrova to the Management
Board of PJSC "Magnit" effective from September 10, 2019.
The Board approved the payment of JSC "Tander" dividends in the amount of
13.7 billion Rubles (1.37 Rubles per one ordinary share). PJSC "Magnit" is
the sole shareholder of JSC "Tander". The dividend payment of the subsidiary
(JSC "Tander") will generate the profit for the parent company (PJSC
"Magnit") that may be used to pay dividends to PJSC "Magnit" shareholders in
future.
Please follow the link below to read the full text of the Board decisions:
http://ir.magnit.com/en/press-releases/reg-filings_2019/.
For further information, please contact:
Dmitry Kovalenko Dina Chistyak Media Inquiries
Director for Investor Relations Director for Investor Relations Media
Relations Department
Email: dmitry_kovalenko@magnit.ru Email: dina_chistyak@magnit.ru Email:
press@magnit.ru
Office: +7 (861) 210-48-80 Office: +7 (861) 210-9810 x 15101
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, 2019, Magnit operated 38 distribution centers
and 19,884 stores (14,231 convenience, 466 supermarkets and 5,187 drogerie
stores) in 3,354 cities and towns throughout 7 federal regions of the
Russian Federation.
In accordance with the reviewed IFRS results for 1H 2019, Magnit had
revenues of RUB 658 billion and an EBITDA of RUB 43 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.
Forward-looking statements:
This document contains forward-looking statements that may or may not prove
accurate. For example, statements regarding expected sales growth rate,
store openings and future transactions are forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties
and other important factors that could cause actual results to differ
materially from what is expressed or implied by the statements. Any
forward-looking statement is based on information available to Magnit as of
the date of the statement. All written or oral forward-looking statements
attributable to Magnit are qualified by this caution. Magnit does not
undertake any obligation to update or revise any forward-looking statement
to reflect any change in circumstances.
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.: 19245
EQS News ID: 869675
End of Announcement EQS News Service
(END) Dow Jones Newswires
September 06, 2019 02:51 ET (06:51 GMT)
