MGNT.L Regulatory News (MGNT)

PJSC MAGNIT - Commencing Date of Exchange-Traded Bonds Placement

PR Newswire

London, July 16

Not for release, publication or distribution in Australia, Canada, Japan or the United States.

These materials are not an offer for sale of securities in the United States. Securities may not be offered or sold in the United States absent registration with the United States Securities and Exchange Commission or an exemption from registration under the U.S. Securities Act of 1933, as amended. PJSC Magnit has not registered and does not intend to register any part of the offering in the United States or to conduct a public offering of any securities in the United States.

This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as “relevant persons”). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

In any EEA Member State that has implemented Directive 2003/71/EC (such Directive, together with any applicable implementing measures in the relevant home Member State under such Directive, the “Prospectus Directive”) this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive.

Securities of PJSC Magnit have not been and will not be registered under the applicable securities laws of Australia, Canada or Japan and, subject to certain exceptions, may not be offered or sold within Australia, Canada or Japan or to, or for the account or benefit of, citizens or residents of Australia, Canada or Japan except under circumstances which will result in the full compliance with the applicable laws and regulations promulgated by the relevant regulatory authorities in effect at the relevant time.

Press-release

Krasnodar

July 16, 2015

PJSC “Magnit” Announces the Commencing Date of the Exchange-Traded Bonds Placement

Krasnodar, July 16, 2015: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; the “Issuer”, MOEX and LSE: MGNT) announces the commencing date of the exchange-traded bonds placement.

Parameters of bonds placement:

Placement commencing date can be changed subject to the publication of the relevant information in the newswire and on the Company’s website http://www.e-disclosure.ru/portal/company.aspx?id=7671; https://ir.magnit.com/en/ not later than on July 22, 2015.

The price of the Exchange-traded bonds placement and the procedure of its determination:

The price of the Exchange-traded bonds placement is fixed in the amount of 1,000 (one thousand) rubles per one Exchange-traded bond (100% of the nominal value).

From the second day of the Exchange-traded bonds placement within the settlement of the sale and purchase transaction the acquirer of the Exchange-traded bonds shall also pay the accumulated coupon yield against the Exchange-traded bonds calculated by the following formula:

ACI = Nom * C * ((T - T0) / 365) / 100%, where

ACI – accumulated coupon interest, rubles;

Nom – nominal value of one Exchange-traded bond, rubles;

C – amount of the interest rate of the 1st coupon period in percent per annum (%);

T – current date of the Exchange-traded bonds placement;

T0 – commencing date of the Exchange-traded bonds placement.

The amount of the accumulated coupon yield per one Exchange-traded bond is calculated with the accuracy to one kopeck (rounding of figures in calculation is carried out according to the mathematical rounding rules. In this respect, mathematical rounding rules are the rounding method whereby the value of the integral kopeck (integral kopecks) does not change if the first figure following the rounded one is in the range from 0 to 4, and increases by one if the first figure following the rounded one is in the range from 5 to 9).

The completion date of the placement or the procedure of its determination:

The completion date of the Exchange-traded bonds placement is the earliest date of the following dates:

a) the 3rd (third) business day from the commencing date of the Exchange-traded bonds placement;

b) the date of placement of the last Exchange-traded bond.

The decision has been made by the Issuer’s sole executive body (Chief Executive Officer) on July 16, 2015 (Decision w/o ? of July 16, 2015).

For further information, please contact:

Company description:

Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of June 30, 2015, Magnit operated 29 distribution centers and over 10,700 stores (8,890 convenience, 311 hypermarkets, and 1,527 drogerie stores) in approximately 2,233 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS consolidated financial statements for 2014, Magnit had revenues of RUB 764 billion and an EBITDA of RUB 86 billion. Magnit's local shares are traded on the Moscow Stock 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.