15th Dec 2009 07:00
Press-release
Krasnodar
December 15, 2009
Krasnodar, December 15, 2009: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) announces the results of the transaction executed by the Company on December 14, 2009.
The essentials of the transaction are as follows:
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Type of transaction:
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contract of guarantee
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Subject of transaction:
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provision of security in the form of guarantee
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Parties and beneficiaries under transaction:
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the Lender - Open joint-stock company "Alfa-bank"
the Guarantor - Open joint-stock company "Magnit"
the Beneficiary - Close joint-stock company "Tander" (the Borrower)
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Maturity date:
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01.09.2011
The guarantee shall become invalid in one year after the loan repayment date
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Volume of the transaction:
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up to 2,686,027,397 rubles which amounts to 16.05% of the issuer's assets value
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The assets value of the issuer as of the closing date of the recent reporting period prepared in accordance with RAS:
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16,734,466,000 rubles
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For further information, please contact:
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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 |
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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, 2009 the chain consisted of 2,960 convenience stores and 21 hypermarkets in 974 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, Central and Volga regions. The Company also operates stores in the North-Western and Urals regions.
As of September 30, 2009 the Company operated an in-house logistics system consisting of 9 distribution centers, employing automated stock replenishment systems and a fleet of 1,362 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for the six months ended June 30, 2009, the Company recorded consolidated revenue of approximately US$2,378 million and consolidated EBITDA of around US$224 million.
Related Shares:
MGNT.L