Press Release | Krasnodar | February 27, 2019
PJSC "Magnit" Signs the Contract with its Subsidiary JSC "Tander" to Make the Contribution to its Assets
Krasnodar, Russia (February 27, 2019): Magnit PJSC (MOEX and LSE: MGNT), one of Russia's leading retailers announces the execution of the material transaction on February 27, 2019 (the contract on the shareholder's contribution to the assets of its subsidiary JSC "Tander").
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Type of transaction: major transaction.
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Subject of transaction:
Contract on shareholder's contribution to the Company's assets.
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Content of transaction:
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For the purposes of financing and supporting the activities of JSC "Tander" ("the Company"), PJSC "Magnit" (the "Shareholder") shall transfer the contribution in the amount of 50,000,000,000 (fifty billion) rubles to the Company's assets free of charge, and the Company shall accept this contribution and use it in its activities.
The Shareholder shall transfer the contribution to Company's settlement account within 30 days upon signing of the Contract. The contribution voluntarily made to the Company's assets shall not change the size of the Shareholder's share, shall not increase the authorized capital of the Company and shall not change the nominal value of the shares.
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Deadline to fulfil obligations under the transaction:
30 days upon the date of signature of the Contract.
Parties and beneficiaries under the transaction:
PJSC "Magnit" (the shareholder contributing to the Company's assets), JSC "Tander" (the Company accepting the contribution to its assets).
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Amount of transaction: 50,000,000,000 (fifty billion) rubles which constitutes 38.58% of the issuer's balance sheet assets as of September 30, 2018.
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The value of assets of the issuer or of the entity securing the issuer's bonds, which executed the transaction, as of the date of the latest reporting period preceding the transaction (execution of a contract): 129,593,015 thousand rubles.
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Date of the transaction (date of the contract): February 27, 2019
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Information on the approval of the transaction:
The transaction was approved by the BOD of PJSC "Magnit" on February 13, 2019 (minutes of meeting of February 13, 2019).
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For further information, please contact
Dmitry Kovalenko Media Inquiries
Director for Investor Relations Media Relations Department
Email: kovalenko_dv3@magnit.ru Email: press@magnit.ru
Office: +7-861-277-4554 x 46082
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, 2018, Magnit operated 37 distribution centers and 18,399 stores (13,427 convenience, 467 supermarkets and 4,505 drogerie stores) in 2,976 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the unaudited IFRS management accounts for 2018, Magnit had revenues of RUB 1,237 billion and an EBITDA of RUB 90 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.
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