OREANDA-NEWS. OJSC "Magnit", Russia's largest food retailer (the "Company"; MICEX and LSE: MGNT), announces the results of the Annual General Shareholders Meeting.

Please be informed that the AGM of OJSC "Magnit" was held on May 29, 2014.

Positive decisions were made by the general shareholders meeting on the following agenda items put to a vote:

- the annual report, annual accounting (financial) reports of OJSC "Magnit" were adopted;

- profit (including payment (declaration) of dividends) and loss allocation of OJSC "Magnit" following 2013 financial year results was approved.

- the Board of directors of OJSC "Magnit" was elected;

- the Revision commission of OJSC "Magnit" was elected;

- the auditor of OJSC "Magnit" was approved;

- the auditor of OJSC "Magnit" in accordance with the IFRS was approved;

- the Counting commission of OJSC "Magnit" was elected;

- the Charter of OJSC "Magnit" in the new edition was ratified;

- the Regulations on the General shareholders meeting of OJSC "Magnit" in the new edition were ratified;

- major related party transactions were approved;

- related party transactions were approved.