OJSC MAGNIT: Holding of BOD

Press-release 
Krasnodar 
March 20, 2013 
OJSC "Magnit" Announces the Holding of the BOD 
Krasnodar, March 20, 2013: OJSC «Magnit» (the "Company"; MICEX and LSE: MGNT)
is pleased to announce the holding of the board of directors meeting. 
On March 20, 2013 the Chairman of the board of directors made the decision to
hold the BOD meeting on March 25, 2013 with the following agenda: 
 1. Preliminary approval of OJSC "Magnit" annual report. 


     2. Approval of recommendations to the general shareholders' meeting on
    distribution of profit, including the dividend amount on shares of OJSC
    "Magnit" and the procedure of its payment, and losses of the Company
    following 2012 financial year results.
     3. Approval of the list of candidates to be elected to the Revision Commission
    of the Company at the annual general shareholders' meeting of OJSC
    "Magnit".
     4. Approval of the list of candidates to be elected to the Board of Directors
    of the Company at the annual general shareholders' meeting of OJSC
    "Magnit".
     5. Calling of the annual general shareholders' meeting of OJSC "Magnit".
     6. Adoption of the agenda of the annual general shareholders' meeting of OJSC
    "Magnit".
     7. Approval of the form of holding of the annual general shareholders' meeting
    of OJSC "Magnit".
     8. Determination of the date, time and venue of the annual general
    shareholders' meeting of OJSC "Magnit".
     9. Determination of the date of the list of shareholders entitled to
    participate in the annual general shareholders' meeting of OJSC "Magnit".
    10. Approval of the form and the text of the voting ballots on the items to be
    considered at the annual shareholders' meeting of OJSC "Magnit".
    11. Notification of shareholders of the holding of the annual general
    shareholders' meeting of OJSC "Magnit".
    12. Provision of the opportunity to shareholders to review the materials
    related to the holding of the annual general shareholders' meeting of OJSC
    "Magnit".
    13. Determination of the amount of remuneration for the auditor's services.
    14. Determination of the recommended price for major related party transaction
    to be approved by the annual shareholders' meeting of OJSC "Magnit".
    15. Determination of the recommended price for related party transactions to be
    approved by the annual shareholders' meeting of OJSC "Magnit".
    16. Determination of the position of the OJSC "Magnit" representative at the
    exercise of the voting right on the Retail Import LLC shares owned by the
    Company.
    17. Determination of the position of the OJSC "Magnit" representative at the
    exercise of the voting right on the LLC "Alkotrading" shares owned by the
    Company.
    18. Determination of the position of the OJSC "Magnit" representative at the
    exercise of the voting right on the LLC "Tandem" shares owned by the
    Company.
    19. Determination of the position of the OJSC "Magnit" representative at the
    exercise of the voting right on the JSC "Tander" shares owned by the
    Company.
    20. Approval of the related party transactions.


The expected date of the list of shareholders entitled to participate in the
general shareholders' meeting: April 5, 2013. 
The list of shareholders entitled to receive dividends shall be made as of the
date of the list of shareholders entitled to participate in the general
shareholders' meeting, where the decision to pay (declare) the dividends on the
OJSC "Magnit" shares shall be made. 
The period following the results of which the decision to pay (declare)
dividends on the issuer's shares shall be made at the general shareholders'
meeting: 2012 financial year. 
Types of the issuer's shares on which the decision to pay (declare) dividends
shall be made: ordinary registered shares. 
For further information, please contact: 
Timothy Post                            Director, Investor Relations            


                                                                               
                                        e-mail: Post@gw.tander.ru              
                                                                               
                                        Tel. in Krasnodar +7 (861) 277-45-54,  
                                        210-98-10 ext. 7600                    
                                                                               
                                        Mob.: +7 (961) 511-76-78               
                                                                               
                                        Direct line for investors only: +7     
                                        (861) 277-45-62                        


                                                                           
Dina Svishcheva                         Deputy Director, Investor Relations     


                                                                               
                                        e-mail: Chistyak@gw.tander.ru          
                                                                               
                                        Tel. in Krasnodar +7 (861) 277-45-54,  
                                        210-98-10 ext. 5101                    
                                                                               
                                        Mob.: +7-961-511-02-02                 
                                                                               
                                        Direct line for investors only: +7     
                                        (861) 277-45-62                        

Company description:

Headquartered in the southern Russia city of Krasnodar, Magnit (LSE and MICEX:
MGNT) is the holding company for a group of entities that operate in the retail
trade under the "Magnit" brand. The chain of "Magnit" stores is one of the
leading food retail networks in Russia. As of December 31, 2012 the chain
consisted of 6,046 convenience stores, 126 hypermarkets, 20 "Magnit Family"
stores and 692 cosmetics stores (drogerie) in 1,605 cities and towns throughout
the Russian Federation.

Approximately two-thirds of the Magnit's stores are located in cities with a
population of less than 500,000 inhabitants. Most of its stores are located in
the Southern, North-Caucasian, Central and Volga regions. The Company also
operates stores in the North-Western, Urals and Siberian regions.

As of December 31, 2012 Magnit operated an in-house logistics system consisting
of 18 distribution centers, employing automated stock replenishment systems and
a fleet of 4,401 vehicles.

In accordance with the unaudited IFRS management accounts for 2012, Magnit
recorded consolidated revenues of approximately $14,430 million USD and a
consolidated EBITDA of $1,524 million USD.



END

-0- Mar/20/2013 11:41 GMT


 
Press spacebar to pause and continue. Press esc to stop.