11th Oct 2012 13:46
Press-releaseKrasnodarOctober 11, 2012
OJSC "Magnit" announces the results of the BOD meeting
Krasnodar, October 11, 2012: OJSC "Magnit" is pleased to announce the results of the BOD meeting held on October 11, 2012.
Please be informed that today the BOD meeting was held (minutes of BOD of OJSC "Magnit" are w/o No. of October 11, 2012).
The meeting agenda:
1. Determination of OJSC "Magnit" business priorities.
2. On advanced termination of appointment of the collegial executive body
(Management Board) members of OJSC "Magnit".
3. On election of the collegial executive body (Management Board) members of
OJSC "Magnit".
The following BOD members were present: A. Arutyunyan, S. Galitskiy, V. Butenko and A. Shkhachemukov.
K. Pombukhchan, A. Zayonts and A. Makhnev provided their written opinions on the items of the agenda of the BOD meeting of OJSC "Magnit".
The number of the BOD members participated in the meeting, including written opinions of K. Pombukhchan, A. Zayonts and A. Makhnev, amounts to not less than half of the number of the BOD members determined by the Charter of the Company.
Quorum to hold the BOD meeting with this agenda is present.
Content of the decisionsand voting results:
On the item 1 of the agenda:
"To determine OJSC "Magnit" business priorities by means of ratification of the Plan of financial and economic activity for the 4th quarter of the year 2012 (Annex 4 to the minutes)".
Votes cast is as follows:
A. Arutyunyan - "for", V. Butenko - "for", S. Galitskiy - "for", A. Zayonts - "for", A. Makhnev - "for", K. Pombukhchan - "for", A. Shkhachemukov - "for".
The decision is made.
On the item 2 of the agenda:
"To terminate the appointment of the following Management Board members of OJSC "Magnit" in advance on October 11, 2012:
- Lyubov Shaguch;- Nikita Churikov".Votes cast is as follows:
A. Arutyunyan - "for", V. Butenko - "for", S. Galitskiy - "for", A. Zayonts - "for", A. Makhnev - "for", K. Pombukhchan - "for", A. Shkhachemukov - "for".
The decision is made.
On the item 3 of the agenda:
"To elect the following candidates as the Management Board members of OJSC "Magnit" from October 12, 2012:
- Marina Ivanova (share in the charter capital of the Issuer - 0.004%);
- Ilya Sattarov (share in the charter capital of the Issuer - 0.0006%)".
Votes cast is as follows:
A. Arutyunyan - "for", V. Butenko - "for", S. Galitskiy - "for", A. Zayonts - "for", A. Makhnev - "for", K. Pombukhchan - "for", A. Shkhachemukov - "for".
The decision is made.
For further information, please contact:
Oleg Goncharov Director, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5100 Mob.: +7 (903) 411-40-35 Direct line for investors only: +7 (861) 277-45-62 Dina Svishcheva Manager, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5101 Mob.: +7-961-511-02-02 Direct line for investors only: +7 (861) 277-45-62 Company description:
Based in Krasnodar, in the Southern region of Russia, Open Joint Stock Company "Magnit" is the holding company for a group of entities that operate in the retail trade under the "Magnit" brand. The chain of "Magnit" stores is one of the leading food retail networks in Russia. As of September 30, 2012 the chain consisted of 5,523 convenience stores, 105 hypermarkets, 11 "Magnit Family" stores and 480 cosmetics stores (drogerie) in 1,504 locations in the Russian Federation.
Approximately two-thirds of the Company's stores are located in cities with a population of less than 500,000 inhabitants. Most of its stores are located in the Southern, North-Caucasian, Central and Volga regions. The Company also operates stores in the North-Western, Urals and Siberian regions.
As of September 30, 2012 the Company operated an in-house logistics system consisting of 17 distribution centers, employing automated stock replenishment systems and a fleet of 4,082 vehicles.
In accordance with the reviewed IFRS consolidated financial statements for 1H 2012, the Company recorded consolidated revenue of approximately US$ 6,776 million and consolidated EBITDA of around US$ 671 million.
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