15th Jun 2011 07:00
Press-release
Krasnodar
June 15, 2011
Krasnodar, June 15, 2011: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) announces the results of the transaction executed by the Company on June 14, 2011.
The essentials of the transaction are as follows:
Type of transaction: | loan agreement |
Subject of transaction: | loan of funds |
Parties and beneficiaries under transaction: | the Lender - Open joint-stock company "Magnit" the Borrower - joint-stock company "Tander" |
Maturity: | loan maturity date - 13.06.2014 |
Transaction amount: | 5,000,000,000 rubles, which amounts to 12.8831% of the issuer's assets value |
Interest rate | 8% per annum |
The assets value of the issuer as of the closing date of the recent reporting period prepared in accordance with RAS: | 38,810,444,000 rubles |
The transaction was approved by the extraordinary general shareholders meeting held on May 19, 2011 (minutes № w/№ of May 19, 2011).
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, 2011 the chain consisted of 4,128 convenience stores, 57 hypermarkets and 4 cosmetics stores (drogerie) in 1,239 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, 2011 the Company operated an in-house logistics system consisting of 11 distribution centers, employing automated stock replenishment systems and a fleet of 2,997 vehicles.
In accordance with the audited IFRS consolidated financial statements for the twelve months ended December 31, 2010, the Company recorded consolidated revenue of approximately US$7,777 million and consolidated EBITDA of around US$632 million.
Related Shares:
MGNT.L