7th Sep 2012 08:22
Press-release
Krasnodar
September 7, 2012
OJSC "Magnit" publishes a statement re recent press comments
Krasnodar, September 7, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) publishes a statement re recent press comments.
A claim has been filed to declare JSC "Tander" (main operating company of OJSC "Magnit") insolvent (bankrupt), case № А-32-26325/2012 (the Company has not received a copy of the claim yet).
The Company finds it necessary to clarify the following regarding the merits of the filed claim:
Based on the Decision of the Court of Arbitration of the Krasnodar Region as of 16.05.2012 (finalized on 25.05.2012, effective from 25.06.2012) within the framework of the case № А32-40099/2011 with JSC "Tander" 224 427 (two hundred and twenty four thousand four hundred and twenty seven) rubles 60 kopecks were rewarded to LLC "Excavation" (12 Magistralnaya street, Pereyaslavl-Zalessky, Yaroslavl region, 152020, Taxpayer Id. Number 7622009643).
LLC "Excavation" received an order of enforcement. However, to the knowledge of JSC "Tander" enforcement proceedings were not initiated.
Mikhail Chirukhin, Director of the Legal Department (JSC "Tander") commented:
"We came across inequitable conduct of our procedural opponent. We assume that the claim was filed solely with the intent to inflict harm to the business reputation of JSC "Tander". There are no indicators of JSC "Tander" insolvency .The three-month period of obligation default has not expired. The debt has been paid in-full".
An appeal session of the Court of Arbitration of the Krasnodar Region related to the case № А-32-26325/2012 will take place on October 4, 2012 where the facts of evidence will be studied and the proceeding will be terminated.
For the first half of 2012 the net profit of JSC "Tander" amounted to 7,062.44 million rubles.
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" (LSE and MICEX: MGNT, S&P: "BB-") 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, 2012 the chain consisted of 5,268 convenience stores, 98 hypermarkets, 5 "Magnit Family" stores and 351 cosmetics stores (drogerie) in 1,461 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 June 30, 2012 the Company operated an in-house logistics system consisting of 16 distribution centers, employing automated stock replenishment systems and a fleet of 4,070 vehicles.
In accordance with the reviewed IFRS consolidated financial statements for 1H 2012, the Company recorded consolidated revenue of approximately US$ 6,776 million and consolidated EBITDA of around US$ 671 million.
Related Shares:
MGNT.L