Magnit Announces the Results of the Board Meeting

DJ Magnit Announces the Results of the Board Meeting

MAGNIT PJSC (MGNT) 
Magnit Announces the Results of the Board Meeting 
27-May-2021 / 18:25 MSK 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
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Magnit announces the results of the Board meeting 
 
Krasnodar, Russia (27 May, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company), one of Russia's leading retailers, 
announces the results of the Board of Directors meeting held on May 27, 2021 (minutes are w/o No. of May 27, 2021). 
 
The Board of Directors of PJSC Magnit agreed on the possibility for JSC Tander (Magnit main operating subsidiary) to 
enter into the Letter of Credit Agreement with VTB Bank PJSC. The Letter of Credit is planned to be used for the 
settlement purposes following the recently announced potential acquisition of Dixy retail chain. 
 
The Board considered this issue in line with the best corporate governance practice given that two members of the Board 
(Tim Demchenko and Alexey Makhnev) are related to VTB Bank PJSC. The above Directors abstained from voting. The Board 
decision was made based on the voting results of seven out of nine Directors, five out of them are independent. 
 
 
More information about potential acquisition of Dixy retail chain and specific terms of the Letter of Credit can be 
found here: 
 
 - https://www.magnit.com/upload/iblock/2d9/ 
  event%2065_%D1%80%D0%B5%D1%88%D0%B5%D0%BD%D0%B8%D1%8F%20%D0%A1%D0%94_eng.pdf - in English; 
 - https://www.e-disclosure.ru/portal/event.aspx?EventId=xhskDxo7b0asDH-CmmJnHsw-B-B - in Russian. 
 
 
 
 
 
 
 
 
 
 
 
 
 
        For further information, please contact: 
 
 
 
        Dina Chistyak 
        Director for Investor Relations 
        [e-mail] 
        Office: [phone] x 15101 
 
        Media Inquiries          Twitter 
        [e-mail]          @MagnitIR 
 
 
 
       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, 2021, Magnit operated 39 
       distribution centers and 21,900 stores (15,098 convenience, 471 supermarkets and 6,331 drogerie stores) 
       in 3,770 cities and towns throughout 7 federal regions of the Russian Federation. 
       In accordance with the audited IFRS 16 results for FY 2020, Magnit had revenues of RUB 1,553.8 billion 
       and an EBITDA of RUB 178.2 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.:  107935 
EQS News ID:  1201680 
 
End of Announcement EQS News Service 
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May 27, 2021 11:25 ET (15:25 GMT)