Magnit announces the results of the Board meeting, including the Decision to call the AGM and the AGM Record Date

 

Krasnodar, Russia (26 April, 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 April 21, 2021.

 

Please be informed that the meeting of the Board of Directors was held on April 21, 2021 (minutes are w/o No. of April 24, 2021).

 

Annual General Shareholders Meeting

 

The Board made a decision to hold the Annual General Shareholders Meeting (AGM) in the form of absentee voting on June 10, 2021.

 

AGM Record Date is May 17, 2021.

 

Voting ballots shall be submitted by June 10, 2021 inclusive.

 

Postal address to send the completed voting ballots: 15/5 Solnechnaya Street, Krasnodar, 350072, Russia.

 

Dividends

 

The Board recommended the AGM the following amount of dividends on PJSC Magnit shares and the procedure of its payment:

 

Total amount of dividends - RUB 24,999,874,495.05;

 

Amount of dividends per share - RUB 245.31.

 

The Dividend Record Date: June 25, 2021.

 

Subject to shareholders' approval, this tranche will be the second dividend payment for 2020 resulting in the total amount of dividends paid for 2020 of about RUB 50 billion. On February 12, 2021 Magnit made the first dividend payment in the amount of about RUB 25 billion (RUB 245.31 per share) for 9M 2020.

 

Nominees to the Board of Directors

 

The Board approved the list of nominees to PJSC Magnit Board of Directors to be elected at the upcoming AGM of PJSC Magnit as follows:

 

1. Vinokurov Alexander Semenovich;
2. Demchenko Timothy;
3. Dunning Jan Gezinus;
4. Zakharov Sergey Mikhailovich;
5. Koch Walter Hans;
6. Kuznetsov Evgeniy Vladimirovich;
7. Makhnev Alexey Petrovich;
8. Mowat Gregor William;
9. Ryan Charles Emmitt;
10. Simmons James Pat.

 

Out of ten nominees only Sergey Zakharov is not a member of the current Board of Directors.

 

Changes in the Management Board

 

The Board elected Egor Shumilin to the Management Board of PJSC Magnit effective from April 26, 2021 and Francesco Fiamingo from the date of receipt of the corresponding permission by PJSC Magnit from Francesco Fiamingo.

 

Remuneration

 

The Board approved the remuneration to the members of the Management Board and the other key employees of PJSC Magnit group of companies following the results of 2020.

 

The Board has changed the total number of participants of the Long-Term Incentive (LTI) Programme for Key Employees of JSC Tander and PJSC Magnit and approved the List of PJSC Magnit and JSC Tander employee positions covered by the Programme in the new edition.

 

The Board has also reviewed the report on the external evaluation of PJSC Magnit Board of Directors prepared by an independent assessor, preliminary approved the Annual Report of PJSC Magnit for 2020, approved the Report on related party transactions made by PJSC Magnit in 2020, reviewed the Audited Financial results of PJSC Magnit and its subsidiaries for the full year 2020 in accordance with IFRS, determined the amount of remuneration for the auditor services for 2021, approved PJSC Magnit 2020 sustainability report, Regulations on the information policy of PJSC Magnit in the new edition, Regulations on the Committees of the Board of Directors of PJSC Magnit in the new edition, etc.

 

Please follow the link 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)

 

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.

 

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into effect on 3 July 2016.

 

 

 

 

 

 

	For further information, please contact:   Dmitry Kovalenko Director for Investor Relations  dmitry_kovalenk[email protected] Office: +7 (861) 210 4880   Dina Chistyak Director for Investor Relations  dina_chisty[email protected] Office: +7 (861) 210 9810 x 15101   Media Inquiries                    Twitter [email protected]                    @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 December 31, 2020, Magnit operated 38 distribution centres and 21,564 stores (14,911 convenience, 470 supermarkets and 6,183 drogerie stores) in 3,752 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.