Magnit submits an application to continue its GDR programme
Krasnodar, Russia (May 5, 2022): Magnit PJSC (MOEX and LSE: MGNT; Magnit, the Company), one of Russia’s leading retailers, announces that in accordance with Federal Law No. 114-FZ “On amendment of Federal Law “On Joint-Stock Companies” and certain legislative acts of the Russian Federation” of April 16, 2022 (“Law No. 114”), the Company has submitted an application to the Ministry of Finance of the Russian Federation to continue the circulation of global depositary receipts representing ordinary shares of PJSC Magnit outside Russia.
In accordance with current legislation of the Russian Federation, the application will be considered by the Government Commission on Monitoring Foreign Investment in the Russian Federation.
Law No. 114, effective April 27, 2022, obliges Russian issuers to stop issuing and/or circulation of depositary receipts representing ordinary shares of Russian issuers.
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Note to editors
“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, 2022, Magnit operated 45 distribution centers and 26,605 stores in 3,946 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS 16 results for FY 2021, Magnit had revenues of RUB 1,856 billion and an EBITDA of RUB 214 billion. Magnit’s local shares are listed on the Moscow Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT).
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