OREANDA-NEWS. May 23, 2011. DIXY Group (Open Joint Stock Company) - the parent company for the Group of companies "DIXY", one of the Russia's leading retailers of foods and everyday products - announces the results of Extraordinary General Meeting of Shareholders.

At the Extraordinary General Meeting of Shareholders of DIXY Group, OJSC held on the 18th of May 2011 the following agenda items were decided:

Approval of the major transaction - the Agreement of provision of a loan to DIXY Group, OJSC.

Approval of the major transaction - the Underwriting Agreement.

With regard to the first item, the Meeting of Shareholders has decided to approve entering into the following major transaction - the Loan Agreement between DIXY Group, OJSC (the borrower) and UniCredit Bank, CJSC (the lender) on the amount of 4.5bn roubles to be drawn at one time. The purpose of the Loan is the acquisition of up to 100% of shares of VICTORIA Group, OJSC.

Considering the second agenda item, the Meeting of Shareholders has decided to approve the major transaction - the Underwriting Agreement between DIXY Group (OJSC) and VTB Capital plc, VTB Capital (CJSC) and/or their affiliates.

Underwriters will acquire (or ensure the acquisition) from DIXY Group (OJSC) a number of Company's ordinary registered shares specified in the Underwriting Agreement, but not more than 14,191,386 shares with a nominal value of 0.01 roubles per share. Underwriting is to be carried out pursuant to the decision of 10 March 2011 of the General Meeting of DIXY Group's Shareholders on the increase of the Company's charter capital by means of placement of additional ordinary registered shares.

The share price will be established by the DIXY Group's Board of Directors in conformity with the decision on the additional issue of securities on the basis of the submission and consideration of the underwriting share bids received from potential investors and according to common market practice.