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

Please be informed that the EGM of PJSC "Magnit" was held on December 18, 2014.

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

to pay dividends on PJSC "Magnit" shares following the results of the 9 months of 2014 financial year;

to approve major related party transactions.

Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of September 30, 2014, Magnit operated 25 distribution centers and over 9,020 stores (7,891 convenience, 243 hypermarkets, and 886 drogerie stores) in approximately 2,000 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2014, Magnit had revenues of USD 9,979 million USD and an EBITDA of USD 1,045 million USD. Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: 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.