PJSC Magnit Announces the Board of Directors' Resolutions

MAGNIT PJSC (MGNT) 
PJSC Magnit Announces the Board of Directors' Resolutions 
 
05-Nov-2019 / 09:41 MSK 
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The issuer is solely responsible for the content of this announcement. 
 
Press Release | Krasnodar | November 5, 2019 
 
PJSC Magnit Announces the Board of Directors' Resolutions 
********************************************************* 
 
      Krasnodar, Russia (November 5, 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 October 31, 2019. 
 
The meeting of the Board of Directors of PJSC Magnit was held on October 31, 
 2019 (Minutes of the BOD meeting are recorded w/o No. of November 1, 2019). 
 
                                                         The meeting agenda: 
 
1) Review of operating and unaudited financial results of PJSC Magnit and 
its subsidiaries for 9 months and 3Q 2019 prepared in accordance with 
IFRS. 
 
2) Review of matters relating to PJSC Magnit priority areas of business. 
 
9 (nine) of the 9 (nine) BOD members participating in the BOD meeting were 
present. 
 
                 Quorum to hold the BOD meeting with this agenda is present. 
 
                                                             Voting Results: 
 
                                                                      Item 1 
 
                                             No issues were put to the vote. 
 
                                                                      Item 2 
 
      "for" - ?lexander Semenovich Vinokurov; Timothy Demchenko; Jan Gezinus 
Dunning; Hans Walter Koch; Evgeniy Vladimirovich Kuznetsov; Alexey Petrovich 
             Makhnev; Charles Emmitt Ryan; James Pat Simmons; Florian Jansen 
 
                                                              "against" - no 
 
                                                            "abstained" - no 
 
                                                      The decision was made. 
 
                                                   Content of the decisions: 
 
                                                       Item 1 on the agenda: 
 
The management represented the main information on the results of activities 
    of PJSC Magnit and its subsidiaries for 9 months of 2019 and for the 3rd 
  quarter of 2019. No issues were put to the vote with regard to this agenda 
                                                                       item. 
 
                                                       Item 2 on the agenda: 
 
       The Company's management provided the Board of Directors with the key 
 information on the development of priority business areas, the issue put to 
               the vote was considered and the following decision was taken: 
 
"To recommend the management of PJSC Magnit to take all necessary actions to 
  improve the efficiency of the group of companies of PJSC Magnit, including 
 measures aimed at reducing the costs and expenses of the group of companies 
                                                             of PJSC Magnit. 
 
                                    For further information, please contact: 
 
Dmitry Kovalenko 
 
Director for Investor Relations 
 
Email: [e-mail] 
 
Office: [phone] 
 
Dina Chistyak 
 
Director for Investor Relations 
 
Email: [e-mail] 
 
Office: [phone] x 15101 
 
Media Inquiries 
 
Media Relations Department 
 
Email: [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 September 30, 2019, Magnit operated 38 distribution 
   centres and 20,497 stores (14,507 convenience, 467 supermarkets and 5,523 
  drogerie stores) in 3,694 cities and towns throughout 7 federal regions of 
                                                     the Russian Federation. 
 
      In accordance with the unaudited IFRS management accounts for 9M 2019, 
   Magnit had revenues of RUB 1,000 billion and an EBITDA of RUB 63 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.:   27115 
EQS News ID:    904395 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

November 05, 2019 01:41 ET (06:41 GMT)