MAGNIT PJSC: Magnit announces the results of the Board meeting

MAGNIT PJSC (MGNT) 
MAGNIT PJSC: Magnit announces the results of the Board meeting 
 
06-May-2020 / 17:55 MSK 
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The issuer is solely responsible for the content of this announcement. 
 
Press Release | Krasnodar | May 6, 2020 
 
Magnit announces the results of the Board meeting 
************************************************* 
 
       Krasnodar, Russia (May 6, 2020): Magnit PJSC (MOEX and LSE: MGNT; the 
   Company), one of Russia's leading retailers, announces the results of the 
                                                 Board of Directors meeting. 
 
   Please be informed that the meeting of the Board of Directors was held on 
                           May 6, 2020 (minutes are w/o No. of May 6, 2020). 
 
  The Board of Directors determined the total number of shares to be granted 
to the participants of the Long-Term Incentive Program for the key employees 
  of JSC Tander and PJSC Magnit (hereinafter - "the LTI Program") within the 
   second part of the tranche for 2019 (based on 2018 results), distribution 
                                    among participants and payment due date. 
 
  The Board of Directors approved the calculations for the implementation of 
                                                   the LTI Program for 2019. 
 
Please follow the link below to read full text of the Board decisions: 
 
http://www.e-disclosure.ru/portal/company.aspx?id=7671 (in Russian 
language); 
 
https://www.magnit.com/ru/disclosure/regulatory-news/ (in Russian language); 
 
https://www.magnit.com/en/disclosure/regulatory-news/tabs-Disclosure (in 
English). 
 
                                    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 
 
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 March 31, 2020, Magnit operated 38 distribution centres 
  and 20,860 stores (14,594 convenience, 472 supermarkets and 5,794 drogerie 
       stores) in 3,718 cities and towns throughout 7 federal regions of the 
                                                         Russian Federation. 
 
In accordance with the audited IFRS results for FY 2019, Magnit had revenues 
of RUB 1,369 billion and an EBITDA of RUB 147 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.:   62028 
EQS News ID:    1037573 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

May 06, 2020 10:55 ET (14:55 GMT)