27th Apr 2010 07:00
Press-release
Krasnodar
April 27, 2010
OJSC "Magnit" announces the results of BOD
Krasnodar, April 27, 2010: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce the results of the meeting 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 26, 2010.
The following decisions on the agenda issues put to vote were adopted by majority voting:
·; 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 2009 financial year were ratified;
·; decision to call the annual general shareholders' meeting of OJSC "Magnit" was adopted;
·; the record date for the list of the shareholders entitled to participate in the annual general shareholders' meeting of OJSC "Magnit" was determined
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, 2009 the chain consisted of 3,204 convenience stores and 24 hypermarkets in 1,048 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 and Urals regions.
As of December 31, 2009 the Company operated an in-house logistics system consisting of 9 distribution centers, employing automated stock replenishment systems and a fleet of 1,453 vehicles.
In accordance with the audited IFRS consolidated financial statements for the twelve months ended December 31, 2009, the Company recorded consolidated revenue of approximately US$5,354 million and consolidated EBITDA of around US$509 million.
Related Shares:
MGNT.L