27th Dec 2012 13:47
OJSC MAGNIT - Execution of the Related-Party TransactionOJSC MAGNIT - Execution of the Related-Party Transaction
PR Newswire
London, December 27
OJSC "Magnit" announces the execution of the related-party transaction
Krasnodar, December 27, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE:MGNT) announces the execution of the transaction on December 27, 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 -27.0 7.2013 Transaction amount: 4,610,000,000.00 rubles, which amounts to 7.05% of the balance sheet value of assets of the issuer Interest rate 9.46% per annum The assets value of the issuer 65,342,418 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 ofthe annual 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:Headquartered in the southern Russia city of Krasnodar, Magnit (LSE and MICEX:MGNT) is the holding company for a group of entities that operate in the retailtrade under the "Magnit" brand. The chain of "Magnit" stores is one of theleading food retail networks in Russia. As of September 30, 2012 the chainconsisted of 5,523 convenience stores, 105 hypermarkets, 11 "Magnit Family"stores and 480 cosmetics stores (drogerie) in 1,504 cities and towns throughoutthe Russian Federation.
Approximately two-thirds of the Magnit'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 September 30, 2012 Magnit operated an in-house logistics systemconsisting of 17 distribution centers, employing automated stock replenishmentsystems and a fleet of 4,082 vehicles.
In accordance with the reviewed IFRS consolidated financial statements for 1H2012, the Magnit recorded consolidated revenues of approximately $6.7 billionUSD and a consolidated EBITDA of $671 million USD.
Related Shares:
MGNT.L