DJ Magnit Announces the Results of the Board Meeting
MAGNIT PJSC (MGNT)
Magnit Announces the Results of the Board Meeting
25-Jun-2021 / 18:15 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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Magnit announces the results of the Board meeting
Krasnodar, Russia (25 June, 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 June 22, 2021.
Charles Ryan was elected Chairman of the Board of Directors of PJSC Magnit and James Simmons as Deputy Chairman. Ilya
Sokolov was elected Board Secretary.
The following directors were elected to the Audit Committee: Evgeny Kuznetsov, James Simmons, Gregor Mowat (Chairman).
The following directors were elected to the HR and Remuneration Committee: James Simmons (Chairman), Evgeny Kuznetsov,
Walter Koch.
The following directors were elected to the Strategy Committee: Walter Koch (Chairman), James Simmons, Charles Ryan.
The following directors were elected to the Capital Markets Committee: Charles Ryan (Chairman), Evgeny Kuznetsov,
Gregor Mowat.
The following eleven members were elected to the collective executive body (Management Board) of PJSC Magnit
(hereinafter - "Management Board") with effect from June 25, 2021:
Member of the Management Board Share in charter capital (share of stake of ordinary
shares owned by the member)
Anna Bobrova 0,004867%
Andrey Bodrov 0,004723%
Maria Dei 0,018050%
0,288183%*
Jan Dunning
(0.279111% of ordinary shares)
Elena Zhavoronkova 0,011637%
Ruslan Ismailov 0,012736%
Anna Meleshina 0,001464%
Florian Jansen 0%
Egor Shumilin 0,009511%
Maxim Shchegolev 0,002494%
Francesco Fiamingo
0,002453%
(From the date when the corresponding permission is received from
Francesco Fiamingo by PJSC Magnit)
*including 46,226 GDRs, which certify the rights in relation to ordinary shares of PJSC "Magnit" at a ratio of 5 GDRs per 1 ordinary share.
The current size and composition of the Board of Directors reflects the voting results at the Annual General Shareholders Meeting (AGM) held on June 10, 2021.
Amongst other decisions made at the AGM, shareholders approved a new edition of the Articles of Association of PJSC Magnit. One of the amendments to the Articles of Association stipulates an increase in the size of the Board of Directors from 9 to 11 members. The Board elected in accordance with the last edition of the Articles of Association in 9 members is legitimate and will function until the next shareholder meeting convenes to elect members of the Board of Directors.
The Board may decide to call an Extraordinary Shareholder meeting (EGM) in the beginning of July 2021. Once the respective decision is disclosed, shareholders will be able to nominate their candidates by mid-August and vote on the new composition of the Board at the EGM which may take place at the beginning of September. This will allow the Company to strengthen the composition of the Board of Directors, boost its efficiency, increase the number of independent members and distribute the burden of participation in the Board committees.
« "We continue to pursue the ambitious goal of developing a strong corporate governance system which
complies with the best practice in Russia and internationally. Last year we collaborated with an
independent consultant on an external assessment of the Board of Directors, which already noted a high
level of efficiency and involvement of Board members. Since receiving the support of our shareholders at
Charles Ryan the AGM this year, we are taking this initiative further by expanding the Board.
Chairman of Given the growing complexity and size of Magnit's business, wide-scale retail and digital transformation,
the Board of we will be looking to further strengthen the Board with new members, who have had numerous leadership
Directors roles in the past, extensive experience and can provide considerable insights to support the Company in
implementing its strategy. In doing this, we also aim to improve the socio-cultural balance and diversity
within the Board, while also maintaining the balance of independent, non-executive and executive
directors in line with best market practice".
»
Please follow the links 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:
Dina Chistyak
Head of Investor Relations
dina_chistyak@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.: 113777
EQS News ID: 1212317
End of Announcement EQS News Service
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(END) Dow Jones Newswires
June 25, 2021 11:15 ET (15:15 GMT)
