PJSC Magnit notifies on the transactions by persons discharging managerial responsibilities and persons clearly associated with them (PDMR/PCA)

 

Krasnodar, Russia (24 March, 2020): Magnit PJSC (MOEX and LSE: MGNT; the Company, the Group), one of Russia's leading retailers, announces the change of stake of ordinary shares in the charter capital of PJSC Magnit owned by Jan Gezinus Dunning, CEO, President, Chairman of the Management Board of PJSC Magnit, and the change of share by JSC Tander (a subsidiary of the Company)

 

On March 24, 2020 the Company was notified on the following change of share of Jan Gezinus Dunning, CEO and President (Chairman of the Management Board) of PJSC Magnit, in the charter capital.

Date of change	Share in the charter capital before change	Ordinary shares stake before change	Share in the charter capital after change	Ordinary shares stake after change
March 23, 2020	0,103775%	0,103775%	0,144180%	0,144180%

 

According to the terms of the employment contract dated January 18, 2019, concluded with Jan Dunning, he is entitled to the Group's shares provided that he continues to work in the Group on the exercise date of the share transfer. The number of shares of the Group to which the rights will be transferred is fixed and amounts to 164,710 ordinary shares of the Group. Share-based payment is deferred and involves the transfer of shares during 3 years, including: 50% of fixed number of shares no later than 31 May 2019, 25% no later than 31 March 2020, 25% no later than 31 March 2021, subject to continued work in the Group.

In April 2019 JSC Tander (a subsidiary of the Company) purchased 164,710 ordinary shares of PJSC Magnit on the Moscow Exchange for the purposes of share award remuneration to the Chief Executive Officer and the President of the Company, Jan Dunning, in accordance with the terms of his employment contract.

In May 2019 as part of the fulfillment of obligations under the employment contract, concluded with Jan Dunning, JSC Tander made the first payment and transferred 50% of the fixed number of shares - 82,355 ordinary shares of PJSC Magnit - to Jan Dunning. His share in the charter capital of PJSC Magnit amounted to 0.080810%.

In June 2019 for the purposes of implementing the long-term incentive program for key management personnel, the Group granted 23,404 ordinary shares to Jan Dunning. As a result, his share in the charter capital of PJSC Magnit increased to 0.103775%.

On March 23, 2020 as part of the fulfillment of obligations under the employment contract dated January 18, 2019, JSC Tander made the second payment and transferred 25% of the fixed number of shares - 41,177 ordinary shares of PJSC Magnit - to Jan Dunning. His share in the charter capital of PJSC Magnit increased to 0.144180% (146,936 ordinary shares).

Full information on the share-based payments under the employment contract dated January 18, 2019, concluded with Jan Dunning, the Chief Executive Officer and the President of the Group, is available in Note 31 of the Audited Consolidated Financial Statements of PJSC Magnit for 2019.

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 

Full company name and address:	Joint Stock Company Tander 185, Levanevskogo street, Krasnodar, Russia
Taxpayer Id Number:	2310031475
Principal State Registration Number:	1022301598549
Object of disposal:	Ordinary registered uncertified voting shares with a state registration No. 1-01-60525-P of 04.03.2004, International Securities Identification Number (ISIN) RU000A0JKQU8
Date of disposal:	March 23, 2020
Amount of disposed shares:	41,177 shares (0.040405% of the total equity)
Basis for disposal:	Shares Purchase Agreements concluded with Jan Gezinus Dunning for the purposes of fulfilling the obligations under the employment contract w/No dated January 18, 2019, concluded between Jan Gezinus Dunning and PJSC Magnit.
Amount of votes before disposal:	4,361,272 votes (4.279476% of the total number of votes)
Amount of votes after disposal:	4,320,095 votes (4.239071% of the total number of votes)

 

 

 

 

For further information, please contact:

 

 

Dmitry Kovalenko

Director for Investor Relations

Email: dmitry_kovalenko@magnit.ru

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

 

Dina Chistyak

Director for Investor Relations

Email: dina_chistyak@magnit.ru

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

 

Media Inquiries

Email: press@magnit.ru

 

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 December 31, 2019, Magnit operated 38 distribution centres and 20,725 stores (14,622 convenience, 473 supermarkets and 5,630 drogerie stores) in 3,742 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.