Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,522.04 104.51 0.72%
TOPIX 1,172.28 5.69 0.49%
HANG SENG 22,760.24 64.23 0.28%

OJSC MAGNIT: Execution ot the Related Party Transaction


Press-release

Krasnodar

August 8, 2013

OJSC "Magnit" Announces the Execution of the Related Party Transaction

Krasnodar, August 8, 2013: OJSC "Magnit", Russia's largest retailer (the "Company"; MICEX and LSE: MGNT), announces the execution of the related party transaction by the Company on August 7, 2013.

The essentials of the transaction are as follows:

Type of transaction: Related party transaction

Subject of provision of the suretyship under the Revolving Credit transaction: Line Agreement № 130628/0249018dated June 28, 2013

executed between JSC "Tander" and "ROSBANK" (OJSC JSCB)

Content of the Under the Suretyship Agreement No.130807/0248980/S dated transaction: August7 , 2013the Surety shall undertake to be gratuit


                       ously liable to the Creditor to the extent provided by  
                       this Agreement for the performance of obligations       
                       thereof by the Borrowerunder the Revolving Credit Line  
                       Agreement № 130628/0249018 dated June 28, 2013executed 
                         between the Borrower and the Creditor in Krasnodar with 
                       the following essentials:                               
                                                                               
                         * Loan Amount: 2,000,000,000 (twobillion) rubles;     
                                                                               
                         * Loan is provided for the period till 26.06 .2015    
                           inclusively;                                        
                                                                               
                         * The Borrower shall pay the Creditor the interest for
                           the loan use at the rate determined by the Revolving
                           Credit Line Agreement but not exceeding 12% per     
                           annum;                                              
                                                                               
                         * The liability of the Surety for the performance of  
                           all obligations under the Credit Agreement shall be 
                           limited to the amount of 2,480,000,000 .00(two      
                           billion fourhundred and eightymillion) Russian      
                           Rubles,                                             
                                                                               
                         * Suretyship terminates upontheproper performance of  
                           obligations by the Borrower under the Credit        
                           Agreementor the unilateral change of the Credit     
                           Agreement essentials increasing the liability of the
                           Surety.                                             

Deadline to fulfill June26, 2015(term of repayment of principal loan and obligations under the interests) transaction:

Parties and the Surety - open joint-stock company «Magnit»; the

beneficiaries of the Creditor - "ROSBANK" (OJSC JSCB), the Borrower (the transaction: beneficiary) - joint-stock company «Tander»

Amount of the 2,480,000,000 .00rubles that amounts to 3.62% from the transaction: issuer's balance sheet assetsas of 31.12.2012

The value of the 68,422 ,621thousand rubles(as of 31.12.2012) issuer's assets as of the last date of the accounting period (quarter, year) preceding the transaction (date of the contract) and in respect of which the term for submission of the accounting (financial) report expired:

Date of transaction August7, 2013 (date of the contract):

Approval of the the transaction was approved by the General shareholders transaction: meeting of May 24, 2013(minutes of the annual general

shareholders meeting of OJSC "Magnit" № w/№ of May24,


                       2013)                                                   

For further information, please contact:

Timothy Post                            Director, Investor Relations           
                                                                               
                                        Email: post@gw.tander.ru               
                                                                               
                                        Office: +7-861-277-4554 x7600          
                                                                               
                                        Mobile: +7-961-511-7678                
                                                                               
                                        Direct Line: +7-861-277-4562           

Dina Svishcheva Deputy Director, Investor Relations


                                                                               
                                        Email: Chistyak@gw.tander.ru           
                                                                               
                                        Office: +7-861-277-4554 x5101          
                                                                               
                                        Mobile: +7-961-511-0202                
                                                                               
                                        Direct Line: +7-861-277-4562           

Company description:

Magnit is Russia's largest retailer. Founded in 1994 by Sergey Galitskiy, the
company is headquartered in the southern Russian city of Krasnodar. As of June
30, 2013, Magnit operates 18 distribution centers and over 7,000 stores (6,552
convenience, 164 hypermarkets, and 700 cosmetics) in more than 1,700 cities and
towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS management accounts for 1H 2013, Magnit
had revenues of $8,796 million USD and an EBITDA of $889 million USD. Magnit's
local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) and its GDRs
on the London Stock Exchange (LSE: MGNT) and it has a credit rating from
Standard & Poor's of BB. Measured by market capitalization, Magnit is now
Europe's 2nd largest retailer.



END

-0- Aug/08/2013 07:12 GMT

Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement