26th Oct 2012 13:29
Press-releaseKrasnodarOctober 26, 2012
OJSC "Magnit" announces the holding of the BOD
Krasnodar, October 26, 2012: OJSC «Magnit» is pleased to announce the holding of the board of directors meeting.
On October 26, 2012 the Chairman of the board of directors made the decision to hold the BOD meeting on October 29, 2012 with the following agenda:
1. Adoption of decision to place securities (bonds of the 01 series).
2. Adoption of decision to place securities (bonds of the 02 series).
3. Adoption of decision to place securities (bonds of the 03 series).
4. Approval of the Decision to issue securities (bonds of the 01 series).
5. Approval of the Decision to issue securities (bonds of the 02 series).
6. Approval of the Decision to issue securities (bonds of the 03 series).
7. Approval of the Prospectus (bonds of the 01, 02, 03 series).
8. Approval of the major transaction (several associated transactions) on
placement by public subscription on bonds of the 01, 02, 03 series.
9. Approval of the related party transaction.
10. Determination of the position of the OJSC "Magnit" representative at the
exercise of the voting right on the JSC "Tander" shares owned by the
Company.
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 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 September 30, 2012 the chain consisted of 5,523 convenience stores, 105 hypermarkets, 11 "Magnit Family" stores and 480 cosmetics stores (drogerie) in 1,504 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 September 30, 2012 the Company operated an in-house logistics system consisting of 17 distribution centers, employing automated stock replenishment systems and a fleet of 4,082 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