14th Dec 2015 13:18
PJSC MAGNIT - Holding of BoD Meeting (updated agenda)PJSC MAGNIT - Holding of BoD Meeting (updated agenda)
PR Newswire
London, December 14
Press-release
Krasnodar
December 14, 2015
PJSC “Magnit” Announces the Holding of the BOD Meeting
Krasnodar, December 14, 2015: 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.
Please be informed that the item No.7 has been added to the agenda of the BOD meeting scheduled for December 16, 2015 by the decision of the Chairman of the Board of Directors of December 11, 2015.
The updated agenda of the BOD meeting is the following:
Ratification of the PJSC “Magnit” Code of business ethics.
Termination of appointment of the head of the PJSC “Magnit” Internal audit department
Appointment of the head of the PJSC “Magnit” Internal audit department.
Ratification of the business plan of PJSC “Magnit” Internal audit department for the year 2016.
Approval of the related party transactions.
Determination of the position of the PJSC “Magnit” representative at the exercise of the voting right on the JSC “Tander” shares owned by the Company.
Determination of the position of the PJSC “Magnit” representative at the exercise of the voting right on the LLC “Tandem” shares owned by the Company.
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 September 30, 2015, Magnit operated 29 distribution centers and about 11,400 stores (9,246 convenience, 335 hypermarkets, and 1,807 drogerie stores) in 2,297 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the reviewed IFRS consolidated financial statements for 1H 2015, Magnit had revenues of RUB 455 billion and an EBITDA of RUB 49 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