BoD Meeting Results

PJSC MAGNIT - BoD Meeting Results

PR Newswire

London, October 25

Press Release

Krasnodar

October 25, 2016

Magnit Announces the Holding of the BOD Meeting

Krasnodar, Russia (October 25, 2016): 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 October 25, 2016 the Chairman of the Board of Directors made the decision to hold the BOD meeting on October 31, 2016 with the following agenda:

Calling of the extraordinary general shareholders meeting (“the EGM”) of PJSC “Magnit”.

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

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

Determination of the postal address to send the filled voting ballots.

Determination of the PJSC “Magnit” EGM record date.

Approval of the agenda of the EGM of PJSC “Magnit”.

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

Determination of the list of information (materials) provided to shareholders to prepare to the EGM 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 EGM of PJSC “Magnit”.

Approval of recommendations to the EGM on the dividend amount on PJSC “Magnit” shares following the results of the 9 months of 2016, the procedure of its payment and the dividend record date.

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

Approval of the Code of business ethics of PJSC “Magnit”.

Determination of the position of the PJSC “Magnit” representative at the exercise of the voting right on the JSC “Tander” shares 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 September 30, 2016, Magnit operated 33 distribution centers and 13,364 stores (10,138 convenience, 407 hypermarkets and 2,819 drogerie stores) in 2,436 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2016, Magnit had revenues of RUB 522 billion and an EBITDA of RUB 52 billion. Magnit's local shares are traded on the Moscow 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.