OJSC 'MAGNIT' (FRA:5M71) Magnit Announces the Results of the Board Meeting

Transparency directive : regulatory news

17/05/2021 18:40

MAGNIT PJSC (MGNT)
Magnit Announces the Results of the Board Meeting

17-May-2021 / 19:40 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

Magnit announces the results of the Board meeting

Krasnodar, Russia (17 May, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company), one of Russia's leading retailers, announces the results of the Board of Directors meeting held on May 17, 2021 (minutes are w/o No. of May 17, 2021).

The Board of Directors of the Company has approved the calculations for the implementation of the Long-Term Incentive Program for Key Employees of JSC Tander and PJSC Magnit (hereinafter - the LTI Program) in the year 2021, pursuant to paragraph 5.8 of the Regulations on the LTI Program.

The Board of Directors has made a decision to determine the total number of Shares to be provided to the Participants within the Tranche for 2021 (based on 2020 results) in line with the LTI Program, their distribution among the Participants and term of payment for the first part of the Tranche, and to grant the certain Participants of the LTI Program the right to purchase all or a part of Shares from the Tranche for the year 2021 (based on the results of the year 2020).

The Board has determined the total number of Shares to be provided to the Participants within the Tranche for 2020 (based on 2019 results) in line with the LTI Program, the distribution of such shares among the Participants and terms of payment for the second part of the Tranche, and also the total number of Shares for the third part of the tranche for the year 2019 (based on 2018 results) to be provided to the Participants in line with the LTI Program, the distribution of such shares among the Participants and terms of payment for such Shares.

The Board has also approved the List of Positions of Employees of JSC "Tander" and PJSC "Magnit", covered by the LTI Program, as amended, as well as the drafts of Addendums to the Shares Purchase Agreements under the LTI Program with certain Participants.

Please follow the link below to view full results of the Board meeting:

http://www.e-disclosure.ru/portal/company.aspx?id=7671 (in Russian language);
https://www.magnit.com/ru/disclosure/regulatory-news/ (in Russian language);
https://www.magnit.com/en/disclosure/regulatory-news/#tabs-Disclosure (in English)

For further information, please contact:

Dmitry Kovalenko

Director for Investor Relations
dmitry_kovalenk o@magnit.ru

Office: +7 (861) 210 4880

Dina Chistyak

Director for Investor Relations
dina_chisty ak@magnit.ru

Office: +7 (861) 210 9810 x 15101

Media Inquiries Twitter

press@magnit.ru @MagnitIR

Note to editors

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, 2021, Magnit operated 39 distribution centers and 21,900 stores (15,098 convenience, 471 supermarkets and 6,331 drogerie stores) in 3,770 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS 16 results for FY 2020, Magnit had revenues of RUB 1,553.8 billion and an EBITDA of RUB 178.2 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.


ISIN:	US55953Q2021
Category Code:	MSCU
TIDM:	MGNT
LEI Code:	2534009KKPTVL99W2Y12
OAM Categories:	3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.:	105593
EQS News ID:	1197461


End of Announcement	EQS News Service

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