Press-release
Krasnodar
May 31, 2016
PJSC "Magnit" Announces the Execution of the Related Party Transaction
Krasnodar, May 31, 2016: PJSC "Magnit", Russia's largest food retailer (the
"Company", the "Issuer"; MOEX and LSE: MGNT), announces the execution of the
related party transaction on May 31, 2016.
Please be informed that on May 31, 2016 PJSC "Magnit" (the Lender) and JSC
"Tander" (the Borrower) executed the related party transaction, according to
which the Lender provides the loan of funds to the Borrower which is to be
repaid by the Borrower within the period determined by the contract. The
repayment of the loan and (or) the interest may be effected by the Borrower in
advance, without written notice to the Lender of the loan repayment, by means
of transfer of the loan to the bank details specified in the contract or
otherwise not contradictory to the Civil Code of the Russian Federation (offset
of mutual claims, assignment of a claim, etc.).
The essentials of the transaction are as follows:
Type of transaction: related party transaction; material transaction which is
not major
Subject of transaction: loan of funds
Parties and beneficiaries under the Lender - Public Joint Stock Company "Magnit"
transaction: the Borrower - Joint Stock Company "Tander"
Maturity: loan maturity date - 28.05.2019
Transaction amount: 11,411,000,000 rubles, which amounts to 10.33% of the
balance sheet value of assets of the issuer
Interest rate: 11.3% per annum
The assets value of the issuer as 110,478,878 thousand rubles
of the closing date of the last
reporting period preceding the
transaction execution:
The transaction was approved by the General shareholders meeting on December
22, 2015 (minutes of the extraordinary General shareholders meeting of PJSC
"Magnit" w/o No. of December 24, 2015).
For further information, please contact:
Timothy Post Head of Investor Relations
Email: post@magnit.ru
Office: +7-861-277-4554 x 17600
Mobile: +7-961-511-7678
Direct Line: +7-861-277-4562
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:
Magnit is Russia's largest food retailer. Founded in 1994, the company is
headquartered in the southern Russian city of Krasnodar. As of March 31, 2016,
Magnit operated 34 distribution centers and about 12,434 stores (9,715
convenience, 382 hypermarkets, and 2,337 drogerie stores) in 2,385 cities and
towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS results for 2015, Magnit had revenues of
RUB 951 billion and an EBITDA of RUB 104 billion. Magnit's local shares are
traded on the Moscow Stock 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.