Magnit

AGM Information • Jun 30, 2017

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

PJSC MAGNIT - Results of BoD Meeting

PR Newswire

London, June 30

Press-release

Krasnodar

June 30, 2017

Magnit Announces the Results of the BOD Meeting

Krasnodar, June 30, 2017: Magnit PJSC, one of Russia’s leading retailers (the “Company”, “Issuer”; MOEX and LSE: MGNT), is pleased to announce the results of the BOD meeting held on June 29, 2017.

Please be informed that on June 29, 2017 the BOD meeting was held (minutes of the BOD meeting of PJSC “Magnit” are w/o No. of June 29, 2017).

The meeting agenda:

1. Election of the Chairman of the Board of Directors of PJSC “Magnit”.

2. Election of the Deputy Chairman of the Board of Directors of PJSC “Magnit”.

3. Election of the Secretary of the Board of Directors of PJSC “Magnit”.

4. Formation of the Audit Committee of the Board of Directors of PJSC “Magnit”.

5. Election of the Chairman of the Audit Committee of the Board of Directors of PJSC “Magnit”.

6. Formation of the HR and Remuneration Committee of the Board of Directors of PJSC “Magnit”.

7. Election of the Chairman of the HR and Remuneration Committee of the Board of Directors of PJSC “Magnit”.

8. Election of the Management Board of PJSC “Magnit”.

9. Nomination of the Deputy Chairman of the Management Board of PJSC “Magnit”.

10. Determination of the remuneration for the auditor`s services.

    The following BOD members were present: K. Pombukhchan, V. Gordeychuk, S. Galitskiy.

    A. Shkhachemukov, A. Aleksandrov, D. Chenikov and A. Pshenichniy provided their written opinions on the items of the agenda of the BOD meeting of PJSC “Magnit”.

The number of the BOD members participating in the meeting, including written opinions of

A. Shkhachemukov, A. Aleksandrov, D. Chenikov and A. Pshenichniy amounts to not less than half of the number of the BOD members determined by the Charter of the Company.

Quorum to hold the BOD meeting with this agenda is present.

Voting Results:

Items 1-10:

A. Aleksandrov - “for”, S. Galitskiy – “for”, V. Gordeychuk – “for”, D. Chenikov - “for”, K. Pombukhchan - “for”, A. Pshenichniy – “for”, A. Shkhachemukov – “for”.

The decisions were made.

Content of the decisions and voting results:

Item 1 on the agenda:

“To elect Khachatur Pombukhchan as a Chairman of the Board of Directors of PJSC “Magnit”.

Item 2 on the agenda:

“To elect Aslan Shkhachemukov as a Deputy Chairman of the Board of Directors of PJSC “Magnit”.

Item 3 on the agenda:

“To elect Vladimir Gordeychuk as a Secretary of the Board of Directors of PJSC “Magnit”.

Item 4 on the agenda:

“To form the Audit Committee of the Board of Directors of PJSC “Magnit” consisting of the following 3 (three) members:

- Aleksandr Aleksandrov;

- Alexey Pshenichniy;

- Dmitry Chenikov”.

Item 5 on the agenda:

“To elect Aleksandr Aleksandrov as a Chairman of the Audit Committee of the Board of Directors of PJSC “Magnit”.

Item 6 on the agenda:

“To form the HR and Remuneration Committee of the Board of Directors of PJSC “Magnit” consisting of the following 3 (three) members:

- Aleksandr Aleksandrov;

- Alexey Pshenichniy;

- Dmitry Chenikov”.

Item 7 on the agenda:

“To elect Alexey Pshenichniy as a Chairman of the HR and Remuneration Committee of the Board of Directors of PJSC “Magnit”.

Item 8.1 on the agenda:

“To form the collective executive body (Management Board) of PJSC “Magnit” consisting of the following 4 (four) members:

- Andrey Arutyunyan;

- Sergey Galitskiy;

- Marina Ivanova;

- Ilya Sattarov.

The share of the members in the charter capital of the issuer, and the percentage of ordinary shares of the issuer owned by these members:

- A. Arutyunyan – 0.215686%;

- S. Galitskiy – 35.1095%;

- M. Ivanova – no share;

- I. Sattarov – 0.000214%”.

Item 8.2 on the agenda:

“To conclude the employment agreement with the members of the Management Board. To approve the terms and conditions of the employment agreement with the member of the collective executive body (Management Board) of PJSC “Magnit”.

Item 9 on the agenda:

“To appoint Andrey Arutyunyan as a Deputy Chairman of the Management Board of PJSC “Magnit”.

Item 10 on the agenda:

“To determine the amount of remuneration for the auditor’s services – Ernst & Young LLC – for the review of the interim condensed consolidated financial statements prepared in accordance with IFRS and of the interim condensed consolidated financial statements prepared in accordance with the Federal Law No. 208-FZ of July 27, 2010 “On the consolidated financial statements” for the 6 months ended on June 30, 2017 in the amount equivalent to 241,900 (two hundred and forty one thousand nine hundred) US dollars (incl. VAT) at the exchange rate of the Central bank of the Russian Federation as of the date of payment”.

For further information, please contact:

Timothy Post	Head of Investor Relations Email: post@magnit.ru Office: +7-861-277-4554 x 17600
Investor Relations Office	MagnitIR@magnit.ru Direct Line: +7-861-277-4562 Website: ir.magnit.com/
Media Inquiries	Media Relations Department press@magnit.ru

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 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.