8th Jul 2011 12:05
Press-release
Krasnodar
July 8, 2011
OJSC "Magnit" announces the call of the BOD
Krasnodar, July 8, 2011: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) announces the decision to hold the meeting of the board of directors.
Dear Ladies and Gentlemen!
We are glad to inform you that today the Company has made a decision to hold the BOD meeting on July 14, 2011.
The meeting agenda is as follows:
1. Adoption of decision to place securities (exchange-traded bonds to the bearer of the BO-07 series).
2. Adoption of decision to place securities (exchange-traded bonds to the bearer of the BO-08 series).
3. Adoption of decision to place securities (exchange-traded bonds to the bearer of the BO-09 series).
4. Approval of the Decision to issue securities (exchange-traded bonds to the bearer of the BO-07 series).
5. Approval of the Decision to issue securities (exchange-traded bonds to the bearer of the BO-08 series).
6. Approval of the Decision to issue securities (exchange-traded bonds to the bearer of the BO-09 series).
7. Approval of the Prospectus (non-convertible interest-bearing certified exchange-traded bonds to the bearer of the BO-07, BO-08, BO-09 series).
8. Approval of the major transaction (several associated transactions) on placement by public subscription on exchange-traded bonds of the BO-07, BO-08, BO-09 series.
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 March 31, 2011 the chain consisted of 4,128 convenience stores, 57 hypermarkets and 4 cosmetics stores (drogerie) in 1,239 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 March 31, 2011 the Company operated an in-house logistics system consisting of 11 distribution centers, employing automated stock replenishment systems and a fleet of 2,997 vehicles.
In accordance with the audited IFRS consolidated financial statements for the twelve months ended December 31, 2010, the Company recorded consolidated revenue of approximately US$7,777 million and consolidated EBITDA of around US$632 million.
Related Shares:
MGNT.L