25th Sep 2012 13:24
Press-releaseKrasnodarSeptember 25, 2012
OJSC "Magnit" announces the execution of the related-party transaction
Krasnodar, September 25, 2012: OJSC "Magnit" announces the execution of the transaction by the Company on September 25, 2012.
The essentials of the transaction are as follows:
Type of transaction: related-party transaction Subject of transaction: loan of funds Parties and beneficiaries the Lender - open joint-stock company "Magnit" under transaction: the Borrower - joint-stock company "Tander" Maturity: loan maturity date -24.0 9.2015 Transaction amount: 4,999, 250,000.00 rubles, which amounts to 8.32% of the balance sheet value of assets of the issuer Interest rate 9.15% per annum
The assets value of the issuer 60,067,654 thousand rubles as of the closing date of the reporting period preceding the transaction execution:
The transaction was approved by the general shareholders' meeting (minutes of the general shareholders' meeting of OJSC "Magnit" w/o â„- of May 28, 2012).
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 groupof entities that operate in the retail trade under the "Magnit" brand. Thechain 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, 98hypermarkets, 5 "Magnit Family" stores and 351 cosmetics stores (drogerie) in1,461 locations in the Russian Federation.Approximately two-thirds of the Company's stores are located in cities with apopulation of less than 500,000 inhabitants. Most of its stores are located inthe Southern, North-Caucasian, Central and Volga regions. The Company alsooperates 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