13th Apr 2012 14:57
Press-release
Krasnodar
April 13, 2012
OJSC "Magnit" announces the holding of the BOD meeting
Krasnodar, April 13, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) is pleased to announce the holding of the Board of Directors meeting.
On April 13, 2012 the chairman of the Board of Directors made the decision to hold the BOD meeting on April 20, 2012 with the following agenda:
1. Preliminary approval of the OJSC "Magnit" annual report.
2. Approval of recommendations to the general shareholders' meeting of the company on distribution of profit, including the amount of dividend on shares of OJSC "Magnit" and procedure of its payment, and loss of the company based on the results of 2011 financial year.
3. Approval of recommendations to the general shareholders' meeting of the company on the amount of dividend on shares of OJSC "Magnit" and procedure of its payment based on the results of the first quarter of 2012 financial year.
4. Approval of the form and text of voting ballots for the annual shareholders' meeting of OJSC "Magnit".
5. Approval of the list of candidates for election to the revision commission of the company on the annual general shareholders' meeting of OJSC "Magnit".
6. Determination of the amount of remuneration for the auditor's services.
7. Determination of the recommended price of transactions for the general shareholders' meeting of OJSC "Magnit" to make a decision on approval of major related party transactions.
8. Determination of the recommended price of transactions for the general shareholders' meeting of OJSC "Magnit" to make a decision on approval of related party transactions.
9. Determination of the position of OJSC "Magnit" representative under realization of voting right on shares in charter capital of LLC "Magnit Finance" owned by the company.
10. Determination of the position of OJSC "Magnit" representative at the exercise of the voting right on shares in charter capital of LLC "Alkotrading" owned by the company.
11. Determination of the position of OJSC "Magnit" representative at the exercise of the voting right on shares in charter capital of LLC "Tandem" owned by the company.
12. Determination of the position of OJSC "Magnit" representative at the exercise of the voting right on shares in charter capital of JSC "Tander" owned by the company.
13. 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" 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, 96 hypermarkets 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