2nd Apr 2012 13:34
Press-release
Krasnodar
April 2, 2012
OJSC "Magnit" announces the holding of the BOD meeting
Krasnodar, April 2, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) is pleased to announce the holding of the Board of Directors meeting.
On April 2, 2012 the chairman of the Board of Directors made the decision to hold the BOD meeting on April 3, 2012 with the following agenda:
1. Calling of the annual general shareholders' meeting of OJSC "Magnit".
2. Adoption of the agenda of the annual general shareholders' meeting of OJSC "Magnit".
3. Approval of the form of holding of the annual general shareholders' meeting of OJSC "Magnit".
4. Determination of the date, time and venue of the annual general shareholders' meeting of OJSC "Magnit".
5. Determination of the date of a list of persons entitled to participate in the annual general shareholders' meeting of OJSC "Magnit".
6. Approval of the form and the text of the voting bulletins on the items to be considered at the annual general shareholder's meeting of OJSC "Magnit".
7. Notification of shareholders of the holding of the annual general shareholders' meeting of OJSC "Magnit".
8. Provision of the opportunity to shareholders to get acquainted with the materials related to the holding of the annual general shareholders' meeting of OJSC "Magnit".
9. Approval of 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 December 31, 2011 the chain consisted of 5,006 convenience stores, 93 hypermarkets and 210 cosmetics stores (drogerie) in 1,389 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 December 31, 2011 the Company operated an in-house logistics system consisting of 14 distribution centers, employing automated stock replenishment systems and a fleet of 3,906 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