OJSC MAGNIT: BoD Results
April 23, 2013
OJSC "Magnit" Announces the Results of the BOD Meeting
Krasnodar, April 23, 2013: OJSC "Magnit", Russia's largest retailer (the "Company", "Issuer"; MICEX and LSE: MGNT), is pleased to announce the results of the BOD meeting held on April 23, 2013.
Please be informed that on April 23, 2013 the BOD meeting was held (minutes of the BOD meeting of OJSC "Magnit" are w/o No. of April 23, 2013).
The meeting agenda:
1. Determination of OJSC "Magnit" business priorities.
The following BOD members were present: A. Arutyunyan, V. Butenko, S. Galitskiy, K. Pombukhchan and A. Shkhachemukov.
A. Zayonts and A. Makhnev provided their written opinions on the items of the agenda of the BOD meeting of OJSC "Magnit".
The number of the BOD members participated in the meeting, including written opinions of A. Zayonts and A. Makhnev, amounts to not less than half of the number of the BOD members determined by the Charter of the Company.
Quorum to hold the BOD meeting with this agenda is present.
Content of the decisionsand voting results:
Item 1 on the agenda:
"To determine OJSC "Magnit" business priorities by means of ratification of the Plans of financial and economic activity of the Company for the year 2013, the first quarter of 2013, the second quarter of 2013".
Votes were cast as follows:
A. Arutyunyan - "for", V. Butenko - "for", S. Galitskiy - "for", A. Zayonts - "for", A. Makhnev - "for", K. Pombukhchan - "for", A. Shkhachemukov - "for".
The decision was made.
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 Russian city of Krasnodar, Magnit (LSE and MICEX: MGNT, S&P: "BB") 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 the largest food retail network in Russia. As of March 31, 2013 the chain consisted of 6,209 convenience stores, 132 hypermarkets, 21 "Magnit Family" stores and 713 cosmetics stores (drogerie) in 1,647 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 March 31, 2013 Magnit operated an in-house logistics system consisting of 18 distribution centers, employing automated stock replenishment systems and a fleet of 4,448 vehicles. In accordance with the audited IFRS consolidated financial statements for 2012, Magnit recorded consolidated revenues of approximately $14,430 million USD and a consolidated EBITDA of $1,524 million USD. END -0- Apr/23/2013 13:52 GMT