15 Dec 2009 08:53
X5 SUPERVISORY BOARD:
ACCEPTS RESIGNATION OF CARLOS CRIADO-PÉREZ TREFAULT FROM SUPERVISORY BOARD;
RECOMMENDS SHAREHOLDERS TO APPOINT CHRISTIAN COUVREUX AS INDEPENDENT SUPERVISORY BOARD MEMBER;
CONVENES EGM TO BE HELD ON 15 JANUARY 2010.
Moscow, 15 December 2009 - X5 Retail Group N.V. ("Company"), Russia's largest retailer in terms of sales (LSE ticker: "FIVE"), today announced decisions of the Company's Supervisory Board to accept Carlos Criado-Pérez Trefault's resignation from the Company's Supervisory Board effective 1 January 2010 pursuant to his decision to concentrate on personal business activities; and to convene an Extraordinary General Meeting of Shareholders on 15 January 2010 at 11.00 am CET (the "EGM").
The EGM will be held at Parkstraat 20, 2514 JK The Hague, The Netherlands. The record date for the EGM is 16 December 2009. The items that will be discussed at the EGM include:
Among other items, X5’s Supervisory Board proposes to the EGM to appoint Christian Couvreux as a new independent director. With the appointment of Mr. Couvreux the Supervisory Board of X5 Retail Group will be composed of seven members, four of which, including the Chairman, will be independent.
Chairman of X5's Supervisory Board Hervé Defforey commented:
"I would like to thank Carlos Criado-Pérez Trefault for his contribution to the growth and development of the Company since his appointment in 2007 and wish him good luck in his future undertakings".
He also added: "With his proven track record and deep knowledge of the global retail industry, Mr. Christian Couvreux will bring valuable experience to X5's Supervisory Board".
Christian Couvreux was born on 24 November 1950 in Paris, France. He has had a long and successful international career in the food retail industry. Since 2005, Mr. Couvreux has been a retail consultant in Asia, in particular in Thailand, Vietnam, Indonesia and the Philippines. From 1990 to 2005 he held a number of senior executive positions with the major French retailer Groupe Casino, where he first served as Senior Executive Vice President, then as CEO from 1997 to 2003 and as Deputy Chairman of the Board until 2005. Prior to 1990, Mr. Couvreux held various leadership positions at CFAO (now part of PPR), in particular of CFAO-Congo and La Ruche Meridionale. Mr. Couvreux holds a master degree in Economic Sciences at the University of Paris, an MBA at the French business school H.E.C.; in addition he completed an Advanced Management Program at INSEAD. A copy of the agenda of the AGM (including the explanatory notes to the agenda) can be found at www.x5.ru.
Note to Editors:
X5 Retail Group N.V. is Russia's largest retailer in terms of sales. The Company was created as a result of a merger between Pyaterochka (soft discounter chain) and Perekrestok (supermarket chain) on 18 May 2006. In June 2008, X5 acquired Karusel hypermarket chain and substantially strengthened its position in hypermarket format.
As at 30 September 2009, X5 had 1,217 Company-managed stores located in Moscow, St. Petersburg and other regions of European Russia, Urals and Ukraine, including 952 soft discount stores, 210 supermarkets and 55 hypermarkets.
As at 30 September 2009, X5's franchisees operated 586 stores across Russia.
For the full year 2008, X5's net sales including acquired Karusel business on a pro-forma basis totalled USD 8,892 mln, EBITDA reached USD 803 mln, and net profit adjusted for non-cash goodwill impairment charge amounted to USD 112 mln.
For the nine months 2009 X5's net sales totalled USD 6,081 mln, EBITDA reached USD 509 mln, and net profit amounted to USD 121 mln.
X5 Shareholder structure is as follows: Alfa Group - 47.9%, founders of Pyaterochka - 23.1%, X5 Management - 1.9%, treasury shares - 0.1%, free float - 27.0%.
For further details please contact | |
Anna Kareva IR Director Tel.: +7 (495) 980-2729, ext. 22 216 e-mail: anna.kareva@X5.ru | Maxim Trapeznikov Head of PR Department Tel.: +7 (495) 662-8888, ext. 31 262 e-mail: maxim.trapeznikov@x5.ru
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Forward looking statements:
This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the fact that they do not only relate to historical or current events. Forward-looking statements often use words such as" anticipate", "target", "expect", "estimate", "intend", "expected", "plan", "goal" believe", or other words of similar meaning.
By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, a number of which are beyond X5 Retail Group N.V.'s control. As a result, actual future results may differ materially from the plans, goals and expectations set out in these forward-looking statements.
Any forward-looking statements made by or on behalf of X5 Retail Group N.V. speak only as at the date of this announcement. Save as required by any applicable laws or regulations, X5 Retail Group N.V. undertakes no obligation publicly to release the results of any revisions to any forward-looking statements in this document that may occur due to any change in its expectations or to reflect events or circumstances after the date of this document.