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PJSC Magnit Announces the Board of Directors' Resolutions, Including the Decision to Call the EGM and Determination of the Record Date

DJ PJSC Magnit Announces the Board of Directors' Resolutions, Including the Decision to Call the EGM and Determination of the Record Date

MAGNIT PJSC (MGNT) 
PJSC Magnit Announces the Board of Directors' Resolutions, Including the 
Decision to Call the EGM and Determination of the Record Date 
 
18-Nov-2020 / 18:00 MSK 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
Press Release | Krasnodar | November 18, 2020 
 
PJSC Magnit Announces the Board of Directors' Resolutions, Including the 
Decision to Call the EGM and Determination of the Record Date 
 
     Krasnodar, Russia (November 18, 2020): 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 November 16, 2020. 
 
The Board has made a decision to call the Extraordinary General Shareholders 
    Meeting (the EGM) in the form of absentee voting. Among other items, the 
    agenda will include the consideration of the dividend payment in January 
  2021, based on the 9M 2020 financial results. The Board has recommended to 
  pay dividends on PJSC Magnit shares in the amount of RUB 24,999,874,495.05 
which constitutes RUB 245.31 per one ordinary share, and set January 8, 2021 
                                                  as a dividend record date. 
 
? The EGM record date: December 1, 2020. 
 
? Voting ballots acceptance deadline: December 24, 2020. 
 
? Postal address to send the completed voting ballots: 15/5 Solnechnaya 
Street, Krasnodar, 350072, Russia. 
 
     Magnit President and CEO Jan Dunning commented: "We experienced a quite 
   challenging and unpredictable year throughout which we managed to improve 
   store performance resulting in increased sales and improved margins. This 
comes in combination with stronger cash generation, improved working capital 
     dynamics, a temporary slowdown of investments into expansion due to the 
       pandemic (which have been already resumed) and a reduced debt burden. 
  Although we continue to bear pandemic-related costs and strive to keep our 
     offering affordable to customers, excellent performance has allowed the 
 Board to provide the above recommendation to the EGM to distribute the cash 
                                                   surplus to stakeholders". 
 
The Board has considered and approved an additional member of the Management 
 Board of PJSC Magnit increasing the Management Board to 9 members, starting 
 on November 20, 2020. The Board has approved Anna Meleshina for election to 
  the Management Board. Ms. Meleshina joined the Company in May 15, 2019 and 
              now holds a position of a Director for Corporate Relations and 
                                               Sustainability in JSC Tander. 
 
           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. 
 
  Items of the agenda of PJSC "Magnit" Board of Directors are related to the 
         exercise of rights on ordinary registered uncertified shares, state 
         registration number 1-01-60525-P of 04.03.2004, International Stock 
                                  Identification Number (ISIN) RU000A0JKQU8. 
 
     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) 
 
This announcement contains inside information which is disclosed in 
accordance with the Market Abuse Regulation which came into effect on 3 July 
2016. 
 
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 
 
Media Relations Department 
 
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 September 30, 2020, Magnit operated 38 distribution 
   centres and 21,154 stores (14,699 convenience, 469 supermarkets and 5,986 
  drogerie stores) in 3,819 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. 
 
                                                 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: 2.2. Inside information 
Sequence No.:   88123 
EQS News ID:    1149207 
 
End of Announcement EQS News Service 
 
 
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=02d7b1654732e0af200cb994d5350d7a&application_id=1149207&site_id=vwd&application_name=news 
2: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=7cff4f1b38b4ac78775b60293a39af6b&application_id=1149207&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

November 18, 2020 10:00 ET (15:00 GMT)

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