6th Apr 2011 10:07
Press-release
Krasnodar
April 6, 2011
Krasnodar, April 6, 2011: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) announces the results of the transaction executed by the Company on April 6, 2011.
The essentials of the transaction are as follows:
Type of transaction: | contract of guarantee
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Subject of transaction: | provision of security in the form of guarantee
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Parties and beneficiaries under transaction: | the Lender - Open Joint-Stock Company "Alfa-Bank" the Guarantor - Open joint-stock company "Magnit" the Beneficiary - Joint-stock company "Tander" (the Borrower) |
Maturity: | credit maturity - 15.11.2013 the guarantee shall be valid within one year from the maturity date of the credit agreement in Russian rubles
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Volume of transaction: | up to 5,086,506,849.32 rubles which is 15.2038% of the issuer's assets value
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The assets value of the issuer as of the last date of the latest reporting period under the accounting report prepared in accordance with RAS: | 33,455,567,000 rubles |
The related-party transaction was approved by the extraordinary general shareholders' meeting held on January 20, 2011 (unnumbered minutes as of January 21, 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 December 31, 2010 the chain consisted of 4,002 convenience stores, 51 hypermarkets and 2 cosmetics stores (drogerie) in 1,216 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, 2010 the Company operated an in-house logistics system consisting of 11 distribution centers, employing automated stock replenishment systems and a fleet of 2,642 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