6th Jun 2012 14:40
Press-release
Krasnodar
June 6, 2012
OJSC "Magnit" announces the holding of the BOD meeting
Krasnodar, June 6, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) is pleased to announce the holding of the board of directors meeting.
On June 6, 2012 the acting Chairman (the Chairman of the previous BOD) of the board of directors made the decision to hold the BOD meeting on June 13, 2012 with the following agenda:
1. Election of the Chairman of the board of directors of OJSC "Magnit".
2. Election of the Deputy Chairman of the board of directors of OJSC "Magnit".
3. Election of the Secretary of the board of directors of OJSC "Magnit".
4. Election of members of the audit committee of the board of directors of OJSC "Magnit".
5. Election of the Chairman of the audit committee of the board of directors of OJSC "Magnit".
6. Election of members of the HR and remuneration committee of the board of directors of OJSC "Magnit".
7. Election of the Chairman of the HR and remuneration committee of the board of directors of OJSC "Magnit".
8. Election of the Management board of OJSC "Magnit".
9. Determination of the position of the OJSC "Magnit" representative at the exercise of the voting right on shares in the charter capital of JSC "Tander" owned by the Company.
10. Approval of the related party transactions.
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