14th May 2012 12:33
Press-release
Krasnodar
May 14, 2012
OJSC "Magnit" announces the holding of the BOD meeting
Krasnodar, May 14, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) is pleased to announce the holding of the Board of Directors meeting.
On May 14, 2012 the chairman of the Board of Directors made the decision to hold the BOD meeting on May 17, 2012 with the following agenda:
1. Ratification of the agreement with the Company's registrar in new edition
2. Determination of the position of the OJSC "Magnit" representative at the exercise of the voting right on shares in the charter capital of LLC "Alkotrading" owned by the Company.
3. Determination of the position of the OJSC "Magnit" representative at the exercise of the voting right on shares of JSC "Tander" owned by the Company.
4. Determination of the position of the OJSC "Magnit" representative at the exercise of the voting right on shares in the charter capital of LLC "Magnit Finance" owned by the Company.
5. Approval of the related party transactions.
6. Approval of additional agreement to the contract of sale and purchase of share in the charter capital of LLC "Magnit Nizhniy Novgorod".
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