27th Oct 2011 13:50
Press-release
Krasnodar
October 27, 2011
OJSC "Magnit" announces the holding of the BOD meeting
Krasnodar, October 27, 2011: OJSC "Magnit" (the "Company", "Issuer"; RTS, MICEX and LSE: MGNT) announces the holding of the BOD meeting on October 27, 2011.
On October 24, 2011 the chairman of the Board of OJSC "Magnit" directors made the decision to hold the BOD meeting on October 27, 2011.
The meeting agenda:
1. Determination of the recommended price of the transactions for the extraordinary general shareholders' meeting of OJSC "Magnit" to make the decisions on approval of related party transactions.
2. Approval of the form and the text of the voting bulletins for the extraordinary general shareholders' meeting of OJSC "Magnit".
3. Determination of the position of the OJSC "Magnit" representative at the exercise of the voting right on the JSC "Tander" shares owned by the Company,
4. Determination of the position of the OJSC "Magnit" representative at the exercise of the voting right on the share in the charter capital of LLC "Magnit Finance" owned by the Company.
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 September 30, 2011 the chain consisted of 4,593 convenience stores, 76 hypermarkets and 98 cosmetics stores (drogerie) in 1,325 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 September 30, 2011 the Company operated an in-house logistics system consisting of 14 distribution centers, employing automated stock replenishment systems and a fleet of 3,705 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for 1H 2011, the Company recorded consolidated revenue of approximately US$5,471 million and consolidated EBITDA of around US$359 million.
Related Shares:
MGNT.L