20th Jul 2010 07:00
Press-release
Krasnodar
July 20, 2010
Krasnodar, July 20, 2010: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) announces the results of the transaction executed by the Company on July 19, 2010.
The essentials of the transaction are as follows:
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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 - Joint-Stock Commercial Savings Bank of the Russian Federation (open joint-stock company) the Guarantor - Open joint-stock company "Magnit" the Beneficiary - Close joint-stock company "Tander" (the Borrower) |
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Maturity: |
credit maturity - 09.07.2015 term of contract - till 09.07.2018 the guarantee shall be valid till the total fulfillment of the obligations under the contract on revolving facility |
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Volume of transaction: |
the limit of the total liability amounts to 4,500,000,000 rubles which is 15.9798% 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: |
28,160,539,000 rubles |
The related-party transaction was approved by the annual general shareholders' meeting held on June 24, 2010 (the minutes are executed as of June 28, 2010).
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 June 30, 2010 the chain consisted of 3,464 convenience stores and 28 hypermarkets in 1,109 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 June 30, 2010 the Company operated an in-house logistics system consisting of 10 distribution centers, employing automated stock replenishment systems and a fleet of 1,713 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