6th Sep 2012 14:34
Press-release
Krasnodar
September 6, 2012
OJSC "Magnit" announces the results of the BOD meeting
Krasnodar, September 6, 2012: OJSC "Magnit" (the "Company", "Issuer"; MICEX and LSE: MGNT) is pleased to announce the results of the BOD meeting held on September 6, 2012.
Dear Ladies and Gentlemen!
We would like to inform you that today the BOD meeting was held (minutes of BOD of OJSC "Magnit" are w/o No. of September 6, 2012).
The meeting agenda:
1. Determination of the position of OJSC "Magnit" representative at the exercise of the voting right against shares in the charter capital of LLC "Alkotrading" owned by the Company.
2. Ratification of the Regulations on the information policy of OJSC "Magnit" in the new edition.
3. Ratification of the Regulations on the dividend policy of OJSC "Magnit" in the new edition.
The following BOD members were present: V. Butenko, S. Galitskiy, K. Pombukhchan and A. Shkhachemukov.
A. Arutyunyan, 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 A. Arutyunyan, 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 decisions and voting results:
On the item 1 of the agenda:
"To recommend the sole executive body of OJSC "Magnit", which is the sole shareholder of LLC "Alkotrading", to make the following decision at the execution of the voting right on shares in the charter capital of LLC "Alkotrading" owning by the Company:
"To change the location of LLC "Alkotrading".
The new address is 15/5 Solnechnaya street, Krasnodar, 350072, Krasnodar region, Russian Federation.
To ratify the Charter of LLC "Alkotrading" in the new edition".
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 ratify the Regulations on the information policy of OJSC "Magnit" in the new edition".
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 ratify the Regulations on the dividend policy of OJSC "Magnit" in the new edition".
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" (LSE and MICEX: MGNT, S&P: "BB-") 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 June 30, 2012 the chain consisted of 5,268 convenience stores, 98 hypermarkets, 5 "Magnit Family" stores and 351 cosmetics stores (drogerie) in 1,461 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 June 30, 2012 the Company operated an in-house logistics system consisting of 16 distribution centers, employing automated stock replenishment systems and a fleet of 4,070 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.
Related Shares:
MGNT.L