1st Oct 2008 11:42
Press-releaseKrasnodarOctober 1, 2008
The change in the Shareholder's stake was the result of him selling 116,000 shares. Deutsche Bank and Morgan Stanley have agreed to allow the Shareholder to sell 116,000 shares before the end of the lock-up which is due to expire on 27 October 2008. The remaining shares of shareholder will continue to be subject to the lock-up.
|
Name and position |
Company |
Share in the charter capital before sale |
Ordinary share ratio before sale |
Share in the charter capital after sale |
Ordinary share ratio after sale |
Date of the fact being reported
|
|
Sergey Galitskiy, CEO Member of the Board |
OJSC"Magnit",185 Levanevskogo st, Krasnodar, Russia |
44.0612% |
44.0612 % |
43.9218% |
43.9218% |
01.10.2008 |
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 Chistyak |
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 a holding company for a group of entities that operate in the retail trade under the "Magnit" name. The chain of "Magnit" stores is one of the leading operators in the Russian food retail market. As of June 30, 2008 the chain consisted of 2,312 convenience stores and 9 hypermarkets in more than 760 locations in the Russian Federation.
Approximately two-thirds of the Company's stores are located in cities with a population of less than 500 thousand. Most of its stores are located within the Southern, Central and Volga regions. The Company also operates stores in the North-Western and Urals regions.
As of June 30, 2008 the Company operated an in-house logistics system consisting of 8 distribution centers, employing automated stock replenishment systems and a fleet of 1,030 vehicles.
In accordance with the audited IFRS consolidated financial statements for 1H2008, the Company posted consolidated revenues of approximately US$ 2,470 million and a consolidated EBITDA of around US$ 158 million.
Related Shares:
MGNT.L