Magnit PAO : PJSC “Magnit” announces the holding of the BoD meeting

PJSC "Magnit" Announces the Holding of the BOD Meeting

On July 26, 2016 the Chairman of the Board of Directors made the decision to hold the BOD meeting on August 1, 2016 with the following agenda:

1. Calling of the extraordinary general shareholders meeting ("the EGM") of PJSC "Magnit".

2. Approval of the form of holding of the EGM of PJSC "Magnit".

3. Determination of the voting ballots acceptance deadline.

4. Determination of the postal address to send the filled voting ballots.

5. Determination of the PJSC "Magnit" EGM record date.

6. Approval of the agenda of the EGM of PJSC "Magnit".

7. Determination of the procedure of notification of shareholders of the holding of the EGM of PJSC "Magnit".

8. Determination of the list of information (materials) provided to shareholders to prepare to the EGM of PJSC "Magnit", and the procedure of its provision.

9. Determination of the form and the text of the voting ballots on the items to be considered at the EGM of PJSC "Magnit".

10. Approval of recommendations to the EGM on the dividend amount on PJSC "Magnit" shares following the results of the 1H 2016, the procedure of its payment and the dividend record date.

11. Determination of the recommended price for major related party transactions to be approved by the EGM of PJSC "Magnit".

12. Determination of the position of the PJSC "Magnit" representative at the exercise of the voting right on the JSC "Tander" shares owned by the Company.

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.

Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of June 30, 2016, Magnit operated 34 distribution centers and 12,888 stores (9,902 convenience, 398 hypermarkets, and 2,588 drogerie stores) in 2,397 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS management accounts for 1H 2016, Magnit had revenues of RUB 522 billion and an EBITDA of RUB 52 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.