Magnit has notified CB J.P. Morgan Bank International (LLC) of the need to take actions aimed at obtaining by holders of global depositary receipts certifying the rights in respect of the company's shares, the rights to which are accounted for in Russian depositories, the corresponding number of shares of the company. This is stated in the message of the retailer.
The procedure and timing of the automatic conversion, including the corresponding actions of the custodian, the central depository and the Russian depositories, which take into account the rights to the GDR, are determined by the decision of the Board of Directors of the Bank of Russia dated July 22, 2022.
PJSC Magnit (Krasnodar, TIN 2309085638) is a holding company of a group of companies engaged in retail trade through the eponymous chain of stores.
Magnit's net profit for the first quarter of 2022 (IAS 17) amounted to 10.9 billion rubles. compared to 10.87 billion rubles a year earlier. Total revenue increased by 37.7% to 547.7 billion rubles. EBITDA amounted to 37.7 billion rubles. This is stated in the message of the retailer.