2 Aug 2019 10:13
Lenta Ltd. (LNTA;LNTR) Lenta Ltd.: Resignation of Director 02-Aug-2019 / 11:13 CET/CEST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
Lenta announces resignation of Maxim Bakhtin as non-executive director of Lenta Ltd.
St. Petersburg, Russia; 2 August, 2019 - Lenta, (LSE, MOEX: LNTA) one of the largest retail chains in Russia, announces that Maxim Bakhtin has resigned from the Board of Directors of Lenta Ltd. with an immediate effect.
Maxim Bakhtin, non-executive Director, member of Operation and Capital Expenditure Committee, has informed the Board that he stepped down from Lenta's Board on the 2nd August 2019. Maxim Bakhtin has been a non-executive Director of Lenta Ltd. since May 2019. He also stepped down from the position of deputy CEO of Severgroup responsible for retail development and left the company.
Lenta's Chairman, Alexey Mordashov, commented: "On behalf of the Board I would also like to personally thank Maxim Bakhtin for his contribution during the transition period starting from acquisition of Lenta by Severgroup".
About Lenta Lenta is the largest hypermarket chain in Russia and the country's third largest retail chain. The Company was founded in 1993 in St. Petersburg. Lenta operates 245 hypermarkets in 88 cities across Russia and 131 supermarkets in Moscow, St. Petersburg, and the Siberia, Urals and Central regions, with a total of approximately 1,468,978 sq.m. of selling space. The average Lenta hypermarket store has selling space of approximately 5,500 sq.m. The average Lenta supermarket store has selling space of approximately 800 sq.m. The Company operates 12 distribution centers. 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 45,759 people as of 31 December 2018[1]. 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 Severgroup, which is 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:
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 Lenta'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 Lenta speak only as at the date of this announcement. Save as required by any applicable laws or regulations, Lenta 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. [1] FTE (full-time equivalent). Average FTE for FY2018 was 43,283 employees |
| ISIN: | US52634T2006, US52634T1016 |
| Category Code: | BOA |
| TIDM: | LNTA;LNTR |
| LEI Code: | 213800OMCE8QATH73N15 |
| Sequence No.: | 15529 |
| EQS News ID: | 851107 |
| End of Announcement | EQS News Service |
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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