31st May 2012 12:37
Press-release
Krasnodar
May 31, 2012
OJSC "Magnit" announces the execution of the related-party transaction
Krasnodar, May 31, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) announces the execution of the transaction by the Company on May 31, 2012.
The essentials of the transaction are as follows:
Type of transaction: | related-party transaction |
Subject of transaction: | loan of funds |
Parties and beneficiaries under transaction: | the Lender - open joint-stock company "Magnit" the Borrower - joint-stock company "Tander" |
Maturity: | loan maturity date - 29.03.2015 |
Transaction amount: | 2,150,000 thousand rubles, which amounts to 4.8151% of the balance sheet value of assets of the issuer |
Interest rate | 11.63% per annum |
The assets value of the issuer as of the closing date of the reporting period preceding the transaction execution: | 60,201,324 thousand rubles |
The transaction was approved by the general shareholders' meeting (minutes of the general shareholders' meeting of OJSC "Magnit" № w/№ 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" (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 March 31, 2012 the chain consisted of 5,104 convenience stores, 91 hypermarkets, 5 "Magnit Family" stores and 266 cosmetics stores (drogerie) in 1,424 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, 2012 the Company operated an in-house logistics system consisting of 15 distribution centers, employing automated stock replenishment systems and a fleet of 3,922 vehicles.
In accordance with the audited IFRS consolidated financial statements for 2011, the Company recorded consolidated revenue of approximately US$ 11,423 million and consolidated EBITDA of around US$ 939 million.
Related Shares:
MGNT.L