Press Release | Krasnodar | May 6, 2020

 

Magnit announces the results of the Board meeting

 

Krasnodar, Russia (May 6, 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 6, 2020 (minutes are w/o No. of May 6, 2020).

The Board of Directors determined the total number of shares to be granted to the participants of the Long-Term Incentive Program for the key employees of JSC Tander and PJSC Magnit (hereinafter - "the LTI Program") within the second part of the tranche for 2019 (based on 2018 results), distribution among participants and payment due date.

The Board of Directors approved the calculations for the implementation of the LTI Program for 2019.

 

Please follow the link below to read full text of the Board decisions:

 

http://www.e-disclosure.ru/portal/company.aspx?id=7671 (in Russian language);

https://www.magnit.com/ru/disclosure/regulatory-news/ (in Russian language);

https://www.magnit.com/en/disclosure/regulatory-news/#tabs-Disclosure (in English).

 

 

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 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.