19th Dec 2008 09:18
Press-releaseKrasnodarDecember 19, 2008
OJSC "Magnit": credit facilities provided by BSGV
Krasnodar, December 19, 2008: OJSC "Magnit" (the "Company"; RTS, MICEX and LSE: MGNT) announces details of credit facilities provided by BSGV.
To avoid incorrect interpretation of information given in voting ballots for extraordinary general shareholders' meeting of OJSC "Magnit" to be held on January 20, 2009, we would like to inform you that 2 bn rub out of 3.1 bn rub of credit facilities granted by Commercial joint-stock bank "Bank Societe Generalle Vostok" have been received by the Company at the interest rate below 20%.
For further information, please contact:
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Oleg Goncharov
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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
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Dina Chistyak
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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
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Company description:
Based in Krasnodar, in the Southern region of Russia, Open Joint Stock Company "Magnit" is a holding company for a group of entities that operate in the retail trade under the "Magnit" name. The chain of "Magnit" stores is one of the leading operators in the Russian food retail market. As of September 30, 2008 the chain consisted of 2,394 convenience stores and 11 hypermarkets in 796 locations in the Russian Federation.
Approximately two-thirds of the Company's stores are located in cities with a population of less than 500 thousand. Most of its stores are located within the Southern, Central and Volga regions. The Company also operates stores in the North-Western and Urals regions.
As of September 30, 2008 the Company operated an in-house logistics system consisting of 8 distribution centers, employing automated stock replenishment systems and a fleet of 1,133 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for 9M 2008, the Company posted consolidated revenues of approximately US$ 3,881 million and a consolidated EBITDA of around US$ 265 million.
Related Shares:
MGNT.L