OJSC 'MAGNIT' (FRA:5M71) MAGNIT PJSC: Magnit announces the results of the Board meeting, including the Decision to call the EGM and the EGM Record Date

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09/07/2021 12:30

MAGNIT PJSC (MGNT)
MAGNIT PJSC: Magnit announces the results of the Board meeting, including the Decision to call the EGM and the EGM Record Date

09-Jul-2021 / 13:30 MSK
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Magnit announces the results of the Board meeting, including the Decision to call the EGM and the EGM Record Date

Krasnodar, Russia (09 July, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company), one of Russia's leading retailers, announces the resolutions of the Board of Directors taken at the meeting held on July 7th, 2021.

The Board has made several decisions on convening the Extraordinary General Meeting of the Shareholders (the EGM) with a view to increasing the size of the Board of Directors from 9 to 11 members.

Expanding the Board to the size of 11 members will allow the Company to strengthen the composition of the Board of Directors, boost its efficiency, increase the number of independent members, and optimally share the workload across the Board committees.

Charles Ryan

Chairman of the Board of Directors

"We continue to pursue the ambitious goal of developing a strong corporate governance system which complies with the best practice in Russia and internationally.

At the Annual General Meeting in June, Magnit's Shareholders supported the Board's proposal to expand its membership from nine to eleven. We welcome all shareholder to propose candidates for the expanded board. We hope the expansion will allow us to strengthen the board through increased gender diversity and new competencies combining retail and digital expertise."

Following the formal procedures shareholders can nominate their candidates by August 9th, 2021 (inclusive) and vote on the new composition of the Board at the EGM on September 9th, 2021.

The EGM is convened in the form of absentee voting. The Agenda includes items on early termination of powers of PJSC "Magnit" Board of Directors and on election of new members.

The EGM record date: July 19, 2021.
Voting ballots acceptance deadline: September 9, 2021.
Postal address to send the completed voting ballots: 15/5 Solnechnaya Street, Krasnodar, 350072, Russia.
Deadline for submitting the shareholders' proposals to nominate candidates for election to the Board of Directors of PJSC "Magnit": August 9, 2021.

The Board of Directors has also approved the list of information (materials) to be provided to shareholders on the holding of extraordinary general shareholders meeting which is available in PJSC "Magnit" headquarters or on the official website starting from August 19, 2021:

- in Russian: https://www.magnit.com/ru/shareholders-and-investors/shareholders-meeting/ ;

- in English: https://www.magnit.com/en/shareholders-and-investors/shareholders-meeting/".

Please follow the link below to view additional 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)

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 Stock Identification Number (ISIN) RU000A0JKQU8.

For further information, please contact:

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.

Forward-looking statements

This document contains or may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected sales growth rate and/or store openings are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. Any forward-looking statement is based on information available to Magnit as of the date of the statement. All written or oral forward-looking statements attributable to Magnit are qualified by this caution. Magnit does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances.


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.:	116494
EQS News ID:	1217317


End of Announcement	EQS News Service

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