28th Apr 2009 07:00
Press-release
Krasnodar
April 28, 2009
OJSC "Magnit" announces the results of BOD
Krasnodar, April 28, 2009: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce the results of the Board of Directors of OJSC "Magnit".
Dear Ladies and Gentlemen!
We would like to inform you that the meeting of the board of directors of OJSC "Magnit" was held on April 27, 2009.
The following decisions on the agenda items put to vote were made by majority vote:
recommendations to the general shareholders' meeting of the Company on profit and loss distribution including the amount of dividend on OJSC "Magnit" shares and procedure of its payment according to the results of 2008 financial year were ratified;
recommendations to the general shareholders' meeting of the Company on profit and loss distribution including the amount of dividend on OJSC "Magnit" shares and procedure of its payment according to the results of 1Q 2009 were ratified;
decision to call the annual general shareholders' meeting of OJSC "Magnit" was made;
record date was determined to make the list of shareholders entitled to participate in the annual general shareholders' meeting of OJSC "Magnit".
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 Chistyak |
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 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 December 31, 2008 the chain consisted of 2,568 convenience stores and 14 hypermarkets in 856 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 December 31, 2008 the Company operated an in-house logistics system consisting of 9 distribution centers, employing automated stock replenishment systems and a fleet of 1,165 vehicles.
In accordance with the audited IFRS consolidated financial statements for 2008, the Company posted consolidated revenues of approximately US$ 5,348 million and a consolidated EBITDA of around US$ 402 million
Related Shares:
MGNT.L