23rd Mar 2016 13:18
PJSC MAGNIT - Holding of BoD MeetingPJSC MAGNIT - Holding of BoD Meeting
PR Newswire
London, March 23
Press-release
Krasnodar
March 23, 2016
PJSC “Magnit” Announces the Holding of the BOD Meeting
Krasnodar, March 23, 2016: PJSC “Magnit”, Russia’s largest food retailer (the “Company”, MOEX and LSE: MGNT), is pleased to announce the holding of the Board of Directors meeting.
On March 23, 2016 the Chairman of the Board of Directors made the decision to hold the BOD meeting on March 29, 2016 with the following agenda:
Ratification of the Internal control and risk management policy of PJSC “Magnit”.
Approval of the changes in the business plan of PJSC “Magnit” Internal audit department for the year 2016.
Approval of the related party transactions.
Determination of PJSC “Magnit” business priorities.
For further information, please contact:
| Timothy Post | Head of Investor Relations Email: [email protected] Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562 |
| Investor Relations Office | [email protected] Direct Line: +7-861-277-4562 Website: ir.magnit.com/ |
| Media Inquiries | Media Relations Department [email protected] |
Company description:
Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of December 31, 2015, Magnit operated 33 distribution centers and about 12,089 stores (9,594 convenience, 374 hypermarkets, and 2,121 drogerie stores) in 2,361 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the unaudited IFRS management accounts for 2015, Magnit had revenues of RUB 951 billion and an EBITDA of RUB 104 billion. Magnit's local shares are traded on the Moscow Stock Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB+. Measured by market capitalization, Magnit is one of the largest retailers in Europe.
Related Shares:
MGNT.L