Press Release | Krasnodar | May 12, 2020

 

Magnit announces the results of the Board meeting

 

Krasnodar, Russia (May 12, 2020): Magnit PJSC (MOEX and LSE: MGNT; the Company), one of Russia's leading retailers, announces the results of the Board of Directors meeting.

Please be informed that the meeting of the Board of Directors was held on May 11, 2020 (minutes are w/o No. of May 11, 2020).

Due to the refusal of Florian Jansen to be elected to the Board of Directors at the annual General Shareholders Meeting of PJSC Magnit (hereinafter - the AGM) to be held following 2019 results, the Board of Directors approved the new form and wording of the voting ballot on the 5th AGM agenda item ("Election of the PJSC Magnit Board of Directors members"), as well as the decision wording on this item of the agenda which shall be sent electronically to nominee shareholders registered in the PJSC Magnit shareholder register.

The Board of Directors amended the previously approved position in respect of the 5th AGM agenda item and approved it as amended.

 

For further information, please contact:

 

Dmitry Kovalenko

Director for Investor Relations

Email:

Office: +7 (861) 210-48-80

 

Dina Chistyak

Director for Investor Relations

Email:

Office: +7 (861) 210-9810 x 15101

 

Media Inquiries

Email:

 

 

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 March 31, 2020, Magnit operated 38 distribution centres and 20,860 stores (14,594 convenience, 472 supermarkets and 5,794 drogerie stores) in 3,718 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS results for FY 2019, Magnit had revenues of RUB 1,369 billion and an EBITDA of RUB 147 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.