2nd Jul 2015 07:48
PJSC MAGNIT - Holding of BoD MeetinngPJSC MAGNIT - Holding of BoD Meetinng
PR Newswire
London, July 2
Press-release
Krasnodar
July 2, 2015
PJSC “Magnit” Announces the Holding of the BOD Meeting
Krasnodar, July 2, 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.
On July 1, 2015 the Chairman of the Board of Directors made the decision to hold the BOD meeting onJuly 7, 2015 with the following agenda:
Determination of PJSC "Magnit" business priorities.
On holding by the CEO (Chairman of the Management Board) of PJSC “Magnit” of the position in the management body of another organization.
Determination of the amount of remuneration for the auditor’s services.
For further information, please contact:
| Timothy Post | Director, Investor Relations Email: [email protected] Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562 |
| Dina Svishcheva | Deputy Director, Investor Relations Email: [email protected] Office: +7-861-277-45-54 x 15101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562 |
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 March 31, 2015, Magnit operated 28 distribution centers and over 10,000 stores (8,581 convenience, 300 hypermarkets, and 1,239 drogerie stores) in approximately 2,180 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS consolidated financial statements for 2014, Magnit had revenues of RUB 764 billion and an EBITDA of RUB 86 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