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
dina_chistyak@magnit.ru
Office: +7 (861) 210 9810 x 15101
Media Inquiries Twitter
press@magnit.ru @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)
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