PJSC MAGNIT - Holding of BoD Meeting

PR Newswire

London, September 23

Press-release

Krasnodar

September 23, 2015

PJSC “Magnit” Announces the Holding of the BOD Meeting

Krasnodar, September 23, 2015: PJSC “Magnit”, Russia’s largest food retailer (the “Company”, MOEX and LSE: MGNT), is pleased to announce the holding of the Board of Directors meeting.

On September 23, 2015 the Chairman of the Board of Directors made the decision to hold the BOD meeting on September 28, 2015 with the following agenda:

  1. Approval of the Program of the PJSC “Magnit” exchange-traded bonds.

  2. Approval of the Prospectus of the PJSC “Magnit” exchange-traded bonds.

  3. Determination of PJSC “Magnit” business priorities.

  4. Approval of the related party transactions.

  5. Determination of the position of the PJSC “Magnit” representative at the exercise of the voting right on the JSC “Tander” shares owned by the Company.

    For further information, please contact:

Timothy Post Director, Investor Relations
Email: post@magnit.ru
Office: +7-861-277-4554 x 17600
Mobile: +7-961-511-7678
Direct Line: +7-861-277-4562
Dina Svishcheva Deputy Director, Investor Relations
Email: Chistyak@magnit.ru
Office: +7-861-277-45-54 x 15101
Mobile: +7-961-511-0202
Direct Line: +7-861-277-4562
Media Inquiries PR and GR Department
press@magnit.ru

Company description:

Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of June 30, 2015, Magnit operated 29 distribution centers and over 10,700 stores (8,890 convenience, 311 hypermarkets, and 1,527 drogerie stores) in approximately 2,233 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2015. Magnit had revenues of RUB 455 billion and an EBITDA of RUB 49 billion. Magnit's local shares are traded on the Moscow Stock 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+. Measured by market capitalization, Magnit is one of the largest retailers in Europe.