MAGNIT PJSC (MGNT)
MAGNIT PJSC: Magnit announces the results of the Board meeting
31-Jul-2020 / 09:30 MSK
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The issuer is solely responsible for the content of this announcement.
Press Release | Krasnodar | July 31, 2020
Magnit announces the results of the Board meeting
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Krasnodar, Russia (July 31, 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
July 29, 2020 (minutes are w/o No. of July 30, 2020).
The Board of Directors approved the change of the total number of
participants of the Long-Term Incentive Program for the key employees of JSC
Tander and PJSC Magnit (hereinafter - the LTI Program), as well as the List
of Positions of Employees of JSC Tander and PJSC Magnit, covered by the
Program, as amended, and included into the list the new participants of the
LTI Program.
The Board approved the draft Addendums to the Share Purchase Agreements
under the LTI Program with certain participants of the LTI Program and
authorized Anna Bobrova to sign the Addendums on behalf of JSC Tander.
The Company's management presented the main information on the results of
activities of PJSC Magnit and its subsidiaries for 6 months of 2020 and for
the 2nd quarter of 2020 in accordance with IFRS.
The Company's management provided the Board of Directors with the key
information on the development of priority business areas.
Please follow the link below to view full results of the Board meeting:
? http://www.e-disclosure.ru/portal/company.aspx?id=7671 (in Russian
language);
? https://www.magnit.com/ru/disclosure/regulatory-news/ [1] (in Russian
language);
? https://www.magnit.com/en/disclosure/regulatory-news/tabs-Disclosure
[2] (in English)
For further information, please contact:
Dmitry Kovalenko
Director for Investor Relations
Email: dmitry_kovalenko@magnit.ru
Office: +7 (861) 210-48-80
Dina Chistyak
Director for Investor Relations
Email: dina_chistyak@magnit.ru
Office: +7 (861) 210-9810 x 15101
Media Inquiries
Email: press@magnit.ru
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, 2020, Magnit operated 38 distribution centres
and 20,894 stores (14,581 convenience, 472 supermarkets and 5,841 drogerie
stores) in 3,710 cities and towns throughout 7 federal regions of the
Russian Federation.
In accordance with the unaudited IFRS 16 management accounts results for 1H
2020, Magnit had revenues of RUB 763.4 billion and an EBITDA of RUB 86.9
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.: 79147
EQS News ID: 1106869
End of Announcement EQS News Service
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(END) Dow Jones Newswires
July 31, 2020 02:30 ET (06:30 GMT)
