19 Mar 2015 16:04
Lenta comments on recent media publication
St-Petersburg, Russia; 19 March, 2015 - Lenta, (LSE, MOEX: LNTA) notes that there has been recent media speculation that Lenta may be considering an equity offering. Lenta on a continuing basis considers its sources of funding, including possible equity offerings as well as debt financings. In considering possible sources of funding, Lenta assesses a number of factors, including the interest rate environment, desired level of leverage, cost of equity and shareholders' preferences. Lenta accordingly continues to consider an equity offering as a possible source of funding on an ongoing basis, but has reached no decision to do so.
About Lenta
Lenta is one of the largest retail chains in Russia and the country's second largest hypermarket chain (in terms of 2014 sales). The Company was founded in 1993 in St. Petersburg. Lenta operates 111 hypermarkets in 62 cities across Russia and 24 supermarkets in Moscow and the Moscow region, with a total of approximately 720,590 sq.m. of selling space. The average Lenta hypermarket store has selling space of approximately 6,300 sq.m. The Company operates four hypermarket distribution centres.
The Company's price-led hypermarket formats are differentiated in terms of their promotion and pricing strategies as well as their local product assortment. The Company employed approximately 35,1001 people as of 31 December 2014.
The Company's management team combines a mix of local knowledge and international expertise coupled with extensive operational experience in Russia. Lenta's largest shareholders include TPG Capital, the European Bank for Reconstruction and Development and VTB Capital Private Equity, all of whom are committed to maintaining high standards of corporate governance. Lenta is listed on the London Stock Exchange and on the Moscow Exchange and trades under the ticker: 'LNTA'.
A brief video summary on Lenta's business and its Big Data initiative can be seen here.
For further information please visit www.lentainvestor.com, or contact:
Lenta Anna Meleshina, Public Relations & Government Affairs Director Tel: +7 812 363 28 53 E-mail: anna.meleshina@lenta.com
Yana Mogileva, PR Manager Тel:+7 (812) 336 39 97 E-mail: yana.mogileva@lenta.com
| Instinctif Partners International Media: Mark Walter and Tony FriendТel:+44 (0)20 7457 2020 E-mail: Mark.Walter@instinctif.com
Russian Media: Anton KarpovТel:+7 495 660 05 91 E-mail: Anton.Karpov@instinctif.com |
[1] FTE (full-time equivalent). Average FTE for 2014 was 27,200 employees.