DJ Magnit has notified the Custodian of the need to conduct automatic conversion of its GDRs
MAGNIT PJSC (MGNT) Magnit has notified the Custodian of the need to conduct automatic conversion of its GDRs 18-Aug-2022 / 18:00 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 HAS NOTIFIED THE CUSTODIAN of the need to conduct automatic conversion of its gdrs
Krasnodar, Russia (August 18 2022): Magnit PJSC (MOEX and LSE: MGNT; Magnit, the Company), one of Russia's leading retailers, announces that on August 18, 2022 it has notified CB JP Morgan International LLC ("Custodian") of the need to take actions to ensure that holders of global depositary receipts ("GDRs") representing the Company's shares deposited with Russian depositaries receive the corresponding number of the Company's shares ("Automatic Conversion").
As the Company previously announced, the procedure of Automatic Conversion is provided for by Federal law No 319-FZ "On Amendment of Certain Legislative Acts of the Russian Federation" effective as of July 14, 2022.
The procedure and terms of Automatic Conversion, including the relevant actions to be taken by the Custodian, the Central Depositary and Russian depositaries with whom the relevant GDRs are deposited, are provided for by the Resolution of the Bank of Russia Board of Directors dated July 22, 2022 ("Resolution of the Bank of Russia").
Full text of the Resolution of the Bank of Russia is available at http://www.cbr.ru/about_br/dir/ rsd_2022-07-22_28_01/ (in Russian).
For further information on procedure for Automatic Conversion please contact CB "JPMorgan Bank International" (LLC) (contact information is available at https://www.jpmorgan.ru/en/contact-us).
For further information and clarification, please contact magnitGDR@magnit.ru.
This statement does not constitute individual investment, financial or legal advice. This statement is for information purposes only and PJSC Magnit shall not be liable if the interpretation of applicable laws and regulations by the relevant state authorities differs from the interpretation given in this statement. Holders of depositary receipts should make an independent decision on how to act in connection with the published statement and, if necessary, contact their investment, legal and other advisors.
For further information, please contact:
Dina Chistyak
Director for Investor Relations
dina_chistyak@magnit.ru
Office: +7 (861) 210 9810 x 15101
Media Inquiries
press@magnit.ru
Note to editors
"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, 2022, Magnit operated 45 distribution centers and
26,731 stores in 3,963 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS 16 results for FY 2021, Magnit had revenues of RUB 1,856 billion and
an EBITDA of RUB 214 billion. Magnit's local shares are listed on the Moscow Exchange (MOEX: MGNT) and
its GDRs on the London Stock Exchange (LSE: MGNT).
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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.: 182296 EQS News ID: 1423549 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
August 18, 2022 11:00 ET (15:00 GMT)
