3rd Feb 2012 13:37
Press-release
Krasnodar
February 3, 2012
OJSC "Magnit" announces the results of the BOD meeting
Krasnodar, February 3, 2012: OJSC "Magnit" (the "Company", "Issuer"; MICEX and LSE: MGNT) is pleased to announce the results of the BOD meeting held on February 3, 2012.
Dear Ladies and Gentlemen!
We would like to inform you that today the BOD meeting was held (minutes of BOD of OJSC "Magnit" are w/o No. of February 3, 2012).
The meeting agenda:
1. Consideration of proposals on inclusion of items in the agenda of the annual general shareholders' meeting of OJSC "Magnit",
2. Consideration of proposals on nomination of candidates to stand for election to the board of directors, revision and counting commissions of OJSC "Magnit" at the annual general shareholders' meeting of OJSC "Magnit",
3. Consideration of proposals on nomination of a candidate to stand for election to the auditor of OJSC "Magnit" at the annual general shareholders' meeting of OJSC "Magnit",
4. Determination of the position of the OJSC "Magnit" representative at the exercise of the voting right on the JSC "Tander" shares owned by the Company,
5. Approval of the related party transactions.
The following BOD members were present: A. Arutyunyan, V. Butenko, A. Shkhachemukov.
S. Galitskiy, K. Pombukhchan, A. Zayonts and A. Makhnev provided their written opinions on the items of the agenda of the BOD meeting of OJSC "Magnit".
The number of the BOD members participated in the meeting, including written opinions of S. Galitskiy, K. Pombukhchan, A. Zayonts and A. Makhnev, amounts to not less than half of the number of the BOD members determined by the Charter of the Company.
Quorum to hold the BOD meeting with this agenda is present.
On the item 5.1 of the agenda:
Votes cast is as follows:
A. Arutyunyan - "abstained from voting", V. Butenko - "for", S. Galitskiy - "abstained from voting", A. Zayonts - "for", A. Makhnev - "for", K. Pombukhchan - "abstained from voting", A. Shkhachemukov - "for".
The decision is made.
Content of decision:
"To approve the transaction which the company plans to execute in future with the JSC "Tander" and which is the related party transaction with the following essentials:
• parties of the transaction: Lessor - OJSC "Magnit", Lessee - JSC "Tander";
• subject of the transaction: The Lessor shall provide real property - store №31, letter A, with a total space of 311.1 (three hundred point one) sq. m, located at the address: 32/1 Sukhumiyskoe shosse/Golmana street, Vostochny district, Novorossiysk, Krasnodar region, Russian Federation - to the Lessee at a fee for temporary possession and use;
• lease fee: 85,000 (eighty five thousand) rubles 00 kopecks per month, incl. VAT;
• leasing period: 10 (ten) years.
The price of the property to the possible disposal of which the transaction is related shall not exceed 2% of the balance sheet assets value of the company determined on the basis of the accounting statement for the last reporting period".
On the item 5.2 of the agenda:
Votes cast is as follows:
A. Arutyunyan - "abstained from voting", V. Butenko - "for", S. Galitskiy - "abstained from voting", A. Zayonts - "for", A. Makhnev - "for", K. Pombukhchan - "abstained from voting", A. Shkhachemukov - "for".
The decision is made.
Content of decision:
"To approve the transaction which the company plans to execute in future with the JSC "Tander" and which is the related party transaction with the following essentials:
• parties of the transaction: Lessor - OJSC "Magnit", Lessee - JSC "Tander";
• subject of the transaction: The Lessor shall provide real property - non-residential store building, letter A, a, with a total space of 264.8 (two hundred and sixty four point eight) sq. m., located at the address: 29 Sedina street, Ivanovskaya village, Krasnoarmeyskiy district, Krasnodar region, Russian Federation - to the Lessee at a fee for temporary possession and use;
• lease fee: 85,000 (eighty five thousand) rubles 00 kopecks per month, incl. VAT;
• leasing period: 10 (ten) years.
The price of the property to the possible disposal of which the transaction is related shall not exceed 2% of the balance sheet assets value of the company determined on the basis of the accounting statement for the last reporting period".
On the item 5.3 of the agenda:
Votes cast is as follows:
A. Arutyunyan - "abstained from voting", V. Butenko - "for", S. Galitskiy - "abstained from voting", A. Zayonts - "for", A. Makhnev - "for", K. Pombukhchan - "abstained from voting", A. Shkhachemukov - "for".
The decision is made.
Content of decision:
"To approve the transaction which the company plans to execute in future with the JSC "Tander" and which is the related party transaction with the following essentials:
• parties of the transaction: Lessor - OJSC "Magnit", Lessee - JSC "Tander";
• subject of the transaction: The Lessor shall provide real property - part of the building, space of 303.2 sq. m., floor: 1, numbers 1, 2, 3, 4, 8, 10, 11, 12 on the floor plan, cadastral (or identification) number: 36-36-11/003/2006-23, address: 14 Lenina square, Kalach, Voronezh region, Russia - to the Lessee at a fee for temporary possession and use;
• lease fee: 106,000 (one hundred and six thousand) rubles 00 kopecks per month, incl. VAT;
• leasing period: 10 (ten) years.
The price of the property to the possible disposal of which the transaction is related shall not exceed 2% of the balance sheet assets value of the company determined on the basis of the accounting statement for the last reporting period".
On the item 5.4 of the agenda:
Votes cast is as follows:
A. Arutyunyan - "abstained from voting", V. Butenko - "for", S. Galitskiy - "abstained from voting", A. Zayonts - "for", A. Makhnev - "for", K. Pombukhchan - "abstained from voting", A. Shkhachemukov - "for".
The decision is made.
Content of decision:
"To approve the transaction which the company plans to execute in future with the JSC "Tander" and which is the related party transaction with the following essentials:
• parties of the transaction: Lessor - OJSC "Magnit", Lessee - JSC "Tander";
• subject of the transaction: The Lessor shall provide real property to the Lessee at a fee for temporary possession and use:
- premises № 1-8, purpose: non-residential, with a total space of 420,9 sq.m., number of floors: 1, letter: A, inventory №4748, cadastral number: 76:18:010957:0019:003004748\0001, located at the address: 39b ("Object-1"), Oktyabrskaya street, Pereslavl-Zalesskiy, Yaroslavl region, Russian Federation;
- integrated premises of "Magnit" shopping center" (premises 1 of the floor №1-5), with a total space of 48,60 sq.m., letter: A, inventory №4317, cadastral number: 76:18:010957:0018:003004317\0001:2002, located at the address: 39 ("Object-2"), Oktyabrskaya street, Pereslavl-Zalesskiy, Yaroslavl region, Russian Federation
• lease fee:
- 249,000 (two hundred and forty nine thousand) rubles 00 kopecks per month, incl. VAT (for possession and use of "Object-1");
- 28,800 (twenty eight thousand and eight hundred) rubles 00 kopecks per month, incl. VAT (for possession and use of "Object-2")
• leasing period: 10 (ten) years.
The price of the property to the possible disposal of which the transaction is related shall not exceed 2% of the balance sheet assets value of the company determined on the basis of the accounting statement for the last reporting period".
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, 2011 the chain consisted of 5,006 convenience stores, 93 hypermarkets and 210 cosmetics stores (drogerie) in 1,389 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, 2011 the Company operated an in-house logistics system consisting of 14 distribution centers, employing automated stock replenishment systems and a fleet of 3,906 vehicles.
In accordance with the unaudited IFRS management accounts for 2011, the Company recorded consolidated revenue of approximately US$ 11,423 million and consolidated EBITDA of around US$ 934 million.
Related Shares:
MGNT.L