Press Release | Krasnodar | November 28, 2018

 

PJSC "Magnit" Announces the Results of the BOD Meeting

Krasnodar, Russia (28 November, 2018): Magnit PJSC (MOEX and LSE: MGNT; "Company", "Issuer"), one of Russia's leading retailers announces the results of the Board of Directors meeting held on November 26, 2018.

 

Please be informed that on November 26, 2018 the BOD meeting was held (minutes of the BOD meeting of PJSC "Magnit" are w/o No. of November 27, 2018).

The meeting agenda:

1. Approval of the Regulations on LTI program for key employees of JSC "Tander".

2. Approval of the additional agreement to the agreement with a sole executive body of PJSC "Magnit".

 

7 (seven) of the 7 (seven) BOD members participating in the BOD meeting were present.

 

Quorum to hold the BOD meeting with this agenda is present.

 

Voting Results:

Item 1-2

Mowat Gregor William - "for", Demchenko Timothy - "for", Simmons James Pat - "for", Makhnev Alexey Petrovich - "for", Foley Paul Michael - "for", Prysyazhnyuk Alexander Mikhailovich - "for", Ryan Charles Emmitt - "for".

 

The decisions were made.

Content of the decisions:

The decision made on the Item 1 on the agenda:

"To approve the Regulation on LTI program for key employees of JSC "Tander", including draft of the share purchase agreement with key JSC "Tander" employees which is the annex to the Regulations".

The decision made on the Item 2 on the agenda:

"To approve the additional agreement to the agreement with the person exercising the power of the sole executive body of PJSC "Magnit", including the draft of the share purchase agreement shares with the person exercising the power of the sole executive body of PJSC "Magnit", which is the annex to the additional agreement".

 

 

 

For further information, please contact:

 

Petr Molchanov          Alisa Kvadzba                Media Inquiries

Chief Investment Officer                        IR manager  Media Relations Department

Email: molchanov_ps@magnit.ru Email: magnitIR@magnit.ru    Email: press@magnit.ru

Office: +7-861-277-4554 x 45000         Office: +7-861-277-4554 x 17601

 

 

 

Note to editors:

Public Joint Stock Company "Magnit" is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of September 30, 2018, Magnit operated 37 distribution centers and 17,442 stores (12,813 convenience, 457 supermarkets and 4,172 drogerie stores) in 2,866 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2018, Magnit had revenues of RUB 595 billion and an EBITDA of RUB 44 billion. Magnit's local shares are traded on the Moscow Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB.