Public Joint Stock Magnit : PJSC Magnit Announces the Board of Directors' Resolutions, Including the Decision to Call the EGM and Determination of the Record Date

MAGNIT PJSC (MGNT) PJSC Magnit Announces the Board of Directors' Resolutions, Including the Decision to Call the EGM and Determination of the Record Date 18-Nov-2020 / 18:00 MSK Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Press Release | Krasnodar | November 18, 2020   PJSC Magnit Announces the Board of Directors' Resolutions, Including the Decision to Call the EGM and Determination of the Record Date   Krasnodar, Russia (November 18, 2020): Magnit PJSC (MOEX and LSE: MGNT; "Company"), one of Russia's leading retailers, announces the resolutions of the Board of Directors taken at the meeting held on November 16, 2020.   The Board has made a decision to call the Extraordinary General Shareholders Meeting (the EGM) in the form of absentee voting. Among other items, the agenda will include the consideration of the dividend payment in January 2021, based on the 9M 2020 financial results. The Board has recommended to pay dividends on PJSC Magnit shares in the amount of RUB 24,999,874,495.05 which constitutes RUB 245.31 per one ordinary share, and set January 8, 2021 as a dividend record date.   The EGM record date: December 1, 2020. Voting ballots acceptance deadline: December 24, 2020. Postal address to send the completed voting ballots: 15/5 Solnechnaya Street, Krasnodar, 350072, Russia. Magnit President and CEO Jan Dunning commented: "We experienced a quite challenging and unpredictable year throughout which we managed to improve store performance resulting in increased sales and improved margins. This comes in combination with stronger cash generation, improved working capital dynamics, a temporary slowdown of investments into expansion due to the pandemic (which have been already resumed) and a reduced debt burden. Although we continue to bear pandemic-related costs and strive to keep our offering affordable to customers, excellent performance has allowed the Board to provide the above recommendation to the EGM to distribute the cash surplus to stakeholders".   The Board has considered and approved an additional member of the Management Board of PJSC Magnit increasing the Management Board to 9 members, starting on November 20, 2020. The Board has approved Anna Meleshina for election to the Management Board. Ms. Meleshina joined the Company in May 15, 2019 and now holds a position of a Director for Corporate Relations and Sustainability in JSC Tander. The Board of Directors approved the change of the total number of participants of the Long-Term Incentive Program for the key employees of JSC Tander and PJSC Magnit (hereinafter - the LTI Program), as well as the List of Positions of Employees of JSC Tander and PJSC Magnit, covered by the Program, as amended, and included into the list the new participants of the LTI Program.   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.   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)   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 Email: [e-mail] Office: [phone]   Dina Chistyak Director for Investor Relations Email: [e-mail] Office: [phone] x 15101   Media Inquiries Media Relations Department Email: [e-mail]   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 September 30, 2020, Magnit operated 38 distribution centres and 21,154 stores (14,699 convenience, 469 supermarkets and 5,986 drogerie stores) in 3,819 cities and towns throughout 7 federal regions of the Russian Federation. In accordance with the unaudited IFRS 16 management accounts results for 1H 2020, Magnit had revenues of RUB 763.4 billion and an EBITDA of RUB 86.9 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 forward-looking statements that may or may not prove accurate. For example, statements regarding expected sales growth rate, store openings and future transactions 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:	2.2. Inside information
Sequence No.:	88123
EQS News ID:	1149207

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