Press Release | Krasnodar | October 17, 2018

 

PJSC "Magnit" Announces the Results of the BOD Meeting

Krasnodar, Russia (17 October, 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 October 16, 2018.

 

Please be informed that on October 16, 2018 the BOD meeting was held (minutes of the BOD meeting of PJSC "Magnit" are w/o No. of October 17, 2018).

The meeting agenda:

1. Early termination of powers of the member of the collegial executive body (Management Board) of PJSC "Magnit".

2. Election of the member of the collegial executive body (Management Board) of PJSC "Magnit".

3. Determination of a person authorized to sign the agreement with the PJSC "Magnit" Management Board member on behalf 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

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".

Item 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".

Item 3

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:

Item 1 on the agenda:

"To early terminate the powers of Ilya Karimovich Sattarov, the member of the PJSC "Magnit" Management Board. The termination date shall be October 17, 2018.

 

Item 2 on the agenda:

"To elect Evgeniy Viktorovich Melnikov as the member of the PJSC "Magnit" Management Board from October 17, 2018

 

The share of the member in the charter capital of the issuer: 0%;

The share of ordinary shares of the issuer owned by this member: 0%

 

 

Item 3 on the agenda:

"To authorize the Deputy Chairman of the Board of PJSC "Magnit", Foley Paul Michael, to sign the labor agreement with Evgeniy Viktorovich Melnikov, the PJSC "Magnit" Management Board member on behalf of the Company".

 

 

For further information, please contact:

 

Dina Svishcheva Media Inquiries

Head of IR Media Relations Department

Email: Chistyak@magnit.ru Email: press@magnit.ru

Office: +7-861-277-4554 x 15101

 

 

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 June 30, 2018, Magnit operated 37 distribution centers and 16,960 stores (12,503 convenience, 244 hypermarkets, 213 supermarkets and 4,000 drogerie stores) in 2,808 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.