PJSC MAGNIT - Execution of Related Party Transaction

Dienstag, 20.09.2016 08:45 von

PR Newswire

Press Release

Krasnodar

September 20, 2016

Magnit Announces the Execution of the Related Party Transaction

Krasnodar, September 20, 2016: Krasnodar, Russia (September 20, 2016): Magnit PJSC, one of Russia’s leading retailers (the “Company”; MOEX and LSE: MGNT), announces the execution of the related party transaction on September 19, 2016.

Please be informed that on September 19, 2016 PJSC “Magnit” (the Lender) and JSC “Tander” (the Borrower) executed the additional agreement to the loan agreement No. 199/15/00 of September 22, 2015 on the change of the loan interest rate to 12.5% per annum.

The essentials of the transaction are as follows:

Type of transaction: related party transaction
Subject of transaction: execution of the additional agreement to the loan agreement No. 199/15/00 of September 22, 2015 on the change of the loan interest rate
Parties and beneficiaries under transaction: the Lender – Public Joint Stock Company “Magnit”
the Borrower – Joint Stock Company “Tander”
Maturity: loan maturity date – 18.09.2018
Transaction amount: 9,320,413,410.00 rubles, which amounts to 7.31% of the balance sheet value of assets of the issuer
Interest rate: 12.5% per annum
The assets value of the issuer as of the closing date of the last reporting period preceding the transaction execution: 127,556,122 thousand rubles

Parties interested in the execution of the transaction by the issuer:

Joint Stock Company “Tander” (JSC “Tander”)

Location: 185, Levanevskogo street, Krasnodar, Russia

The share of the interested party in the charter capital of the issuer: 0.019331%

The share of securities of the issuer owned by the interested party: 0.019331%

The share in the charter capital of the legal entity (JSC “Tander”), which is the party in the transaction (the share of securities owned by the interested party): 0.

The basis on which this entity has been acknowledged interested in the execution of this transaction:

the entity is the shareholder, which jointly with its affiliates owns more than 20% of the Issuer’s (PJSC “Magnit”) shares, and is party of the transaction;

its affiliate (PJSC “Magnit”) owns more than 20% of the legal entity (JSC “Tander”), which is the party of the transaction.

"Magnit" Joint-Stock Non-Government Pension Fund (“Magnit” JSNPF)

Location: office 1, letter B, 95 Moskovskaya street, Krasnodar, Russian Federation

The share of the interested party in the charter capital of the issuer: 0.133926%

The share of securities of the issuer owned by the interested party: 0.133926%

The share in the charter capital of the legal entity (JSC “Tander”), which is the party in the transaction (the share of securities owned by the interested party): 0.

The basis on which this entity has been acknowledged interested in the execution of this transaction:

the entity is the shareholder, which jointly with its affiliates owns more than 20% of the Issuer’s (PJSC “Magnit”) shares, and its affiliate:

  • is the party of the transaction;
  • owns more than 20% of shares of the legal entity (JSC “Tander”) which is the party of the transaction.

LAVRENO LIMITED

Location: 20 Spirou Kyprianou, CHAPO CENTRAL, 3rd floor, 1075, Nicosia, Cyprus

The share of the interested party in the charter capital of the issuer: 0.421790%

The share of securities of the issuer owned by the interested party: 0.421790%

The share in the charter capital of the legal entity (JSC “Tander”), which is the party in the transaction (the share of securities owned by the interested party): 0.

The basis on which this entity has been acknowledged interested in the execution of this transaction:

the entity is the shareholder, which jointly with its affiliates owns more than 20% of the Issuer’s (PJSC “Magnit”) shares, and its affiliate:

  • is the party of the transaction;
  • owns more than 20% of shares of the legal entity (JSC “Tander”) which is the party of the transaction.

Alexander Barsukov

The share of the interested party in the charter capital of the issuer: 0

The share of securities of the issuer owned by the interested party: 0

The share in the charter capital of the legal entity (JSC “Tander”), which is the party in the transaction (the share of securities owned by the interested party): 0.

The basis on which this party has been acknowledged interested in the execution of this transaction: the party is a member of the Issuer’s  collective executive body and holds positions in the management bodies of the legal entity (JSC “Tander”), which is the party of the transaction.

Krasfin Invest Limited

Location: 20 Spirou Kyprianou, CHAPO CENTRAL, 3rd floor, 1075, Nicosia, Cyprus

The share of the interested party in the charter capital of the issuer: 0.2876%

The share of securities of the issuer owned by the interested party: 0.2876%

The share in the charter capital of the legal entity (JSC “Tander”), which is the party in the transaction (the share of securities owned by the interested party): 0.

The basis on which this entity has been acknowledged interested in the execution of this transaction:

the entity is the shareholder, which jointly with its affiliates  owns more than 20% of the Issuer’s (PJSC “Magnit”) shares, and its affiliate:

  • is the party of the transaction;
  • owns more than 20% of shares of the legal entity (JSC “Tander”) which is the party of the transaction.

The transaction was approved by the General shareholders meeting on September 12, 2016 (minutes of the General shareholders meeting of PJSC “Magnit” w/o No. of September 12, 2016).

For further information, please contact:

Timothy Post Head of Investor Relations
Email: post@magnit.ru
Office: +7-861-277-4554 x 17600
Mobile: +7-961-511-7678
Direct Line: +7-861-277-4562
Investor Relations Office MagnitIR@magnit.ru
Direct Line: +7-861-277-4562
Website: ir.magnit.com/
Media Inquiries Media Relations Department
press@magnit.ru

Company description:

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 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 reviewed IFRS consolidated financial statements 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 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.