MGNT.L Regulatory News (MGNT)

PJSC MAGNIT - Holding of BoD Meeting

PR Newswire

London, April 24

Press Release

Krasnodar

April 24, 2017

Magnit Announces the Holding of the BOD Meeting

Krasnodar, Russia (April 24, 2017): Magnit PJSC, one of Russia’s leading retailers (the “Company”, MOEX and LSE: MGNT), is pleased to announce the holding of the Board of Directors meeting.

On April 24, 2017 the Chairman of the Board of Directors made a decision to hold the BOD meeting on April 28, 2017 with the following agenda:

Review of results of the performance evaluation of PJSC “Magnit” Board of Directors

Preliminary approval of the PJSC “Magnit” annual report.

Approval of recommendations to the PJSC “Magnit” General shareholders meeting on distribution of profit and losses of the Company following 2016 reporting year results, including the dividend amount on shares of the Company, the procedure of its payment and on the dividend record date.

Approval of the Report on the related party transactions executed by PJSC “Magnit” in 2016.

Calling of the annual general shareholders meeting (“the AGM”) of PJSC “Magnit”.

Determination of the form of holding of the AGM of PJSC “Magnit”.

Determination of the date, time and venue of the AGM of PJSC “Magnit”.

Determination of the postal address to which the completed voting ballots shall be delivered.

Appointment of the date of determination (record date) of persons entitled to participate in the AGM of PJSC “Magnit”.

Determination of the agenda of the AGM of PJSC “Magnit”.

Determination of the procedure of notification of shareholders of the holding of the AGM of PJSC “Magnit”.

Determination of the list of information (materials) provided to shareholders to prepare to the holding of the AGM of PJSC “Magnit”, and the procedure of its provision.

Determination of the form and the text of the voting ballots on the items to be considered at the AGM of PJSC “Magnit”.

Approval of the list of candidates to be elected to the PJSC “Magnit” Board of Directors at the AGM of the Company.

Approval of the list of candidates to be elected to the PJSC “Magnit” Revision commission at the AGM of the Company.

Determination of the amount of remuneration for the PJSC “Magnit” auditor’s services.

Appointment of the deputy chairman of the Management Board of PJSC “Magnit”.

Determination of the position of the PJSC "Magnit" representative at the exercise of the voting right on the Retail Import LLC shares in the charter capital owned by the Company.

Determination of the position of the PJSC "Magnit" representative at the exercise of the voting right on the LLC “Alkotrading” shares in the charter capital owned by the Company.

Determination of the position of the PJSC "Magnit" representative at the exercise of the voting right on the LLC “Tandem” shares in the charter capital owned by the Company.

Items of the agenda of PJSC "Magnit" Board of Directors are related to the exercise of rights on ordinary registered uncertified shares, state registration number 1-01-60525-P of 04.03.2004, International Securities Identification Number (ISIN) RU000A0JKQU8.

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Company description:

Public Joint Stock Company “Magnit” is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of March 31, 2017, Magnit operated 35 distribution centers and 14,089 stores (10,540 convenience, 427 hypermarkets and 3,122 drogerie stores) in 2,494 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS results for 2016, Magnit had revenues of RUB 1,075 billion and an EBITDA of RUB 108 billion. Magnit's local shares are traded on the Moscow Stock Exchange (MOEX: 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 one of the largest retailers in Europe.