MAGNIT PJSC: Magnit announces the results of the Board meeting
Krasnodar, Russia (September 9, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company), one of Russia's leading retailers, today announces the results of the Board of Directors meeting held on September 8, 2021.
MAGNIT PJSC (MGNT) MAGNIT PJSC: Magnit announces the results of the Board meeting Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Magnit announces results of the board meeting
Krasnodar, Russia (September 9, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company), one of Russia's leading retailers, today announces the results of the Board of Directors meeting held on September 8, 2021.
On September 8, 2021, the Board of Directors made a decision to exclude Maria Dei, Supply Chain Director, from the Management Board.
Among other decisions, the Board approved changes to the total remuneration of the auditor's services under IFRS for the audit of the consolidated financial statements of PJSC Magnit and its subsidiaries for the year of 2021, as well as other services that may be provided by PJSC Magnit's auditor in 2021, including the statements review, up to Rub 85 million (inclusive). This decision reflects an increase in the scope of the audit services due to the acquisition of the DIXY retail business.
The Audit Committee approved Policy for approval of external auditor's services (the Audit Fees Policy). The Audit Fees Policy oversees the approval process for services provided to Magnit Group by Company's external auditors and assures auditors' independence. According to the Audit Fees Policy, Magnit will limit the total fees for non-audit services in a calendar year to an amount not exceeding 50% of the total fees for the audit and audit-related services in the relevant year with the effect from January 1, 2022.
Please follow the links below to view more details of the BOD decisions:
Please follow the links below for the text of the Policy:
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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.: | 121786 |
EQS News ID: | 1232232 |
End of Announcement | EQS News Service |
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