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Magnit announces results of its BOD meeting held on March 20, 2014

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Krasnodar, Russia, 2014-3-20 — /EPR Retail News/ — OJSC “Magnit”, Russia’s largest retailer (the “Company”, “Issuer”; MICEX and LSE: MGNT), is pleased to announce the results of the BOD meeting held on March 20, 2014.

Please be informed that on March 20, 2014 the BOD meeting was held (minutes of the BOD meeting of OJSC “Magnit” are w/o No. of March 20, 2014).

The meeting agenda:
1. Determination of OJSC “Magnit” business priorities.
2. Approval of the related party transactions.
3. Determination of the position of the OJSC “Magnit” representative at the exercise of the voting right on the JSC “Tander” shares owned by the Company.

The following BOD members were present: A. Arutyunyan, V. Butenko and K. Pombukhchan. S. Galitskiy, A. Zayonts, A. Makhnev and A. Shkhachemukov provided their written opinions on the items of the agenda of the BOD meeting of OJSC “Magnit”.

The number of the BOD members participated in the meeting, including written opinions of S. Galitskiy, A. Zayonts, A. Makhnev and A. Shkhachemukov amounts to not less than half of the number of the BOD
members determined by the Charter of the Company. Quorum to hold the BOD meeting with this agenda is present.

Content of the decisions and voting results:

Item 1 on the agenda:
“To determine OJSC “Magnit” business priorities by means of ratification of the Plans of financial and economic activity of the Company for the second quarter of 2014”.

Votes were cast as follows:
A. Arutyunyan – “for”, V. Butenko – “for”, S. Galitskiy – “for”, A. Zayonts – “for”, A. Makhnev – “for”, K. Pombukhchan – “for”, A. Shkhachemukov – “for”.
The decision was made.

Item 2.1 on the agenda:
“To approve the real estate lease agreement which the Company plans to execute in future with JSC “Tander” and which is the related party transaction with the following essentials:
• Parties of the transaction: Lessor – OJSC “Magnit”, Lessee – JSC “Tander”.
• Subject of the transaction: the Lessor shall provide the following real property to the Lessee for a fee for temporary possession and use: non-residential premises №39 with the total space of 31.1 sq. m, located on the 1st floor of the non-residential office building with the total space of 8,193.9 sq. m, letter B, B1, number of floors: 6, number of underground floors: 1, located at the address: 15/5 Solnechnaya street, Prikubanskiy district, Krasnodar, Krasnodar region, Russia. The real property shall be provided to the Lessee for the organization of a medical room.
• Lease fee: 18,349 (eighteen thousand three hundred and forty nine) rubles per month including VAT and shall be calculated as a lease fee rate of 590 rubles per square meter of the space of the non-residential premises.
• Lease period: 360 (three hundred and sixty) calendar days. If neither of the parties announces its intention to cancel the agreement before its expiration, the agreement shall be considered prolonged for an indefinite period.

The price of the property to the possible disposal of which the transaction is related amounts to less than 2% of the book value of assets of the Company determined on the basis of the accounting statements for the latest accounting period”.

Votes were cast as follows:
A. Arutyunyan – “for”, V. Butenko – “for”, S. Galitskiy – “for”, A. Zayonts – “for”, A. Makhnev – “for”, K. Pombukhchan – “for”, A. Shkhachemukov – “for”.
The decision was made.

Item 2.2 on the agenda:
“To approve the real estate lease agreement which the Company plans to execute in future with JSC “Tander” and which is the related party transaction with the following essentials:
• Parties of the transaction: Lessor – OJSC “Magnit”, Lessee – JSC “Tander”.
• Subject of the transaction: the Lessor shall provide the following real property located at the address: 15/5 Solnechnaya street, Prikubanskiy district, Krasnodar, Krasnodar region, Russia, to the Lessee for a fee for temporary possession and use:
– part of the non-residential office building with the total space of 8,193.9 sq. m, letter B, B1, number of floors: 6, number of underground floors: 1, excluding the non-residential premises №39 (1st floor, with the total space of 31.1 sq. m), №№26-30 (3rd floor, with the total space of 129.8 sq. m), №2, №5 (5th floor with the total space of 49.3 sq. m), the total space of the leased premises amounts to 7,983.7 sq. m;
– boiler room, purpose: non-residential, with the total space of 61.6 sq. m, letter G12, number of floors: 1;
– garage, purpose: non-residential, with the total space of 337.5 sq. m, letter G11, number of floors: 1.
The real property shall be provided to the Lessee for the use as office and service premises.
• Lease fee:
– For the Building: 4,710,383 (four million seven hundred and ten thousand three hundred and eighty three) rubles per month including VAT and shall be calculated as a lease fee rate of 590 rubles per square meter of the space of the Building.
– For the Boiler room: 24,713 (twenty four thousand seven hundred and thirteen) rubles 92 kopecks per month including VAT and shall be calculated as a lease fee rate of 401.2 rubles per square meter of the space of the Boiler room.
– For the Garage: 135,405 (one hundred and thirty five thousand four hundred and five) rubles per month including VAT and shall be calculated as a lease fee rate of 401.2 rubles per square meter of the space of the Garage.

• Lease period: 11 (eleven) months. If neither of the parties announces its refusal to prolong the agreement before its expiration, the agreement shall be considered prolonged automatically for the same period and with the same essentials.
The price of the property to the possible disposal of which the transaction is related amounts to less than 2% of the book value of assets of the Company determined on the basis of the accounting statements for the latest accounting period”.

Votes were cast as follows:
A. Arutyunyan – “for”, V. Butenko – “for”, S. Galitskiy – “for”, A. Zayonts – “for”, A. Makhnev – “for”, K. Pombukhchan – “for”, A. Shkhachemukov – “for”.
The decision was made.

Item 3 on the agenda:
“To recommend the sole executive body of OJSC “Magnit”, which is the sole shareholder of JSC “Tander”, to make the following decision at the realization of the voting right on shares owned by the Company: “Under the clause 14.2 of the Charter of JSC “Tander” to approve the conclusion of the Credit agreement on the opening of the credit line by JSC “Tander” (hereinafter – the “Borrower”) with “Gazprombank” (open joint-stock company) (hereinafter – the “Creditor”), which the Borrower plans to execute in future, related to acquisition, disposal and an opportunity of the company to dispose property, directly or indirectly, the cost of which amounts to 5 and more percent of the balance sheet value of assets of the company, its subsidiaries, principal company (of which the company is a subsidiary), as well as other subsidiaries of the principal company (“Group”), determined on the basis of the latest available IFRS consolidated report of the Group with the following essentials of the Credit agreement:

1. The Creditor shall open the Credit line to the Borrower and provide Credit Tranches (part of the Credit provided within the Credit line) in the amount and on terms specified in the Credit agreement, and the Borrower shall repay the Credit received through the Credit line, pay interest and fulfill other Obligations under the Credit agreement.
2. Purpose of the Credit: financing of the current operations stipulated in the Charter.
3. Interest rate for the Credit use comprises not more than 12% (twelve percent) per annum.
4. Limit of indebtedness on the Credit line (maximum amount of the aggregate debt on the Credit line) comprises 15,000,000,000 (fifteen billion) rubles.
5. Use of the Credit line is performed by the Credit Tranches each being provided for the term not exceeding 36 (thirty six) months taking into account the term of validity of the Credit agreement.
6. The term of validity of the Credit agreement amounts not more than 42 (forty two) months.

Hereby to provide V. Gordeychuk, Chief executive officer of JSC “Tander”, with the right to sign Additional agreements which determine the terms of the Credit provision and change terms of the General agreement including but not limited to the change of the interest rates, the change of the term of credit provision.”

Votes were cast as follows:
A. Arutyunyan – “for”, V. Butenko – “for”, S. Galitskiy – “for”, A. Zayonts – “for”, A. Makhnev – “for”, K. Pombukhchan – “for”, A. Shkhachemukov – “for”.
The decision was made.

For further information, please contact:

Timothy Post Director, Investor Relations
Email: post@gw.tander.ru
Office: +7-861-277-4554 x 17600
Mobile: +7-961-511-7678
Direct Line: +7-861-277-4562

Dina Svishcheva Deputy Director, Investor Relations
Email: Chistyak@gw.tander.ru
Office: +7-861-277-4554 x 15101
Mobile: +7-961-511-0202
Direct Line: +7-861-277-4562

Company description:
Magnit is Russia’s largest retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of December 31, 2013, Magnit operated 22 distribution centers and over 8,000 stores (7,200 convenience, 207 hypermarkets, and 686 cosmetics) in more than 1,868 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS management accounts for 2013, Magnit had revenues of $18,202 million USD and an EBITDA of $2,032 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 now Europe’s 2nd largest
retailer

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Casper expands virtual food hall model with Franklin Junction’s Host Kitchen® technology

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GHENT, 14-Mar-2023 — /EuropaWire/ — Franklin Junction partners with Casper, a modern day food hall offering 100% virtual orders for takeout and delivery, to expand iconic American restaurant brands to Benelux and France. Franklin Junction founder, Rishi Nigam, and Casper founder, Matthias Laga, presented their expansion plans at the recent International Ghost Kitchen Conference in Amsterdam, Netherlands.

Franklin Junction has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2023 as they continue to deliver innovative technology solutions for restaurants in the US and now abroad. Leading the way with their proprietary Host Kitchen® model, Franklin Junction has grown into a full suite of solution services to empower restaurant success in the digital age. In 2022, Franklin Junction introduced its AI-powered digital food hall that allows consumers to order food and earn loyalty from multiple concepts in a single transaction and delivery.

“As industry leaders driving the growth of American restaurant brands in new markets, we have received a tremendous amount of interest to expand to the European market for a few years now,” shares Franklin Junction CEO Rishi Nigam. “After getting to know Matthias and the entire Casper team over the past year, we have full confidence that they are a trusted partner to expand globally with and we’re thrilled to bring iconic American fare to new diners across Europe.”

Casper launched in Ghent, Belgium and raised €5 million for their Series A in 2022 with the objective of creating a hybrid restaurant and food hall model where customers can walk-in to place orders for takeout or order through digital channels for delivery. In just a short time, Casper has expanded to over 10 locations in Belgium, the Netherlands, and France, with an expansion goal of 50 kitchens by 2024.

“We’re very excited to partner with Franklin Junction and begin by introducing Nathan’s Famous’ authentic New York flavors to our European customers in the coming weeks,” states Matthias Laga, Co-founder and CEO of Casper. “Franklin Junction uniquely understands restaurants, multi-concept food halls, and restaurant eCommerce and their proprietary processes are extremely virtuous for all stakeholders.”

SOURCE: EuropaWire

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coop & spree launches a retail, business, and sports podcast called coop convos

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The Retailer will interview CEOs, influencers, and professional athletes on a weekly basis

New York, New York, USA, 2022-Dec-23 — /EPR Network/ — coop & spree, the New York City based contemporary retailer, has launched a podcast called coop convos, which is all things business, retail, sports and wellness. Coop convos is hosted by coop & spree CEO and founder, Brooke S. Richman, who will interview various business leaders, tastemakers, and influencers in their aforementioned industries. Since Richman is an avid New York Knicks Fan (the Spree in coop & spree comes from her childhood pup’s name which paid homage to former Knick, Latrell Sprewell), she’s even interviewed and secured some former NBA stars.

The Podcast is available on over 10 platforms, and the first episode will likely air February 1st, 202 depending on the rifting process. To date, Richman has secured over 35 prestigious guests and has already recorded episodes with Stephanie Gottlieb, founder of Stephanie Gottlieb Fine Jewelry, Dale Stabler, wellness entrepreneur and co-founder of Sweats + The City, co-founder of the Orro + Theheard apps, and Allan Houston, the 2x NBA All-Star for the New York Knicks, Olympic Gold Medalist, and founder of FISLL,

Notable confirmed guests include Emily Faith Strauss, founder and designer of EF Collection, Helen Hall-Leland, CEO of Blender Bombs and Hustle Smoothie Bar, Alexa Leigh Meyer Mufson, founder and designer of Alexa Leigh, and John Wallace, former NBA star, current investor, philanthropist and New York Knick radio host.

During the start of the pandemic in March 2020, Richman moved temporarily from her NYC apartment to her childhood home in Greenwich, CT, where she learned how to code and created her e-comm website, coopandspreevip.com. Since her Elizabeth Street store in NYC was closed due to the pandemic, she had all her vendors ship her orders to her CT home where she fulfilled them. When she wasn’t opening new merchandise or packaging her clients’ orders, she would use Instagram live as a way to engage with her coop & spree audience, since she no longer could interact with them in person. She decided to start interviewing different designers and influencers, many of whom she knew and many of whom she had never met, and she absolutely loved it. So did her audience. It turned into a weekly tradition and the rest, as they say, is history. Not only did these weekly IG TV “interviews” create much needed connection at a time of unprecedented isolation, but also, they provided Richman, and coop & spree, with a new way of engaging with both customers and vendors.

Coop convos has the same format as Richman’s IG lives, where Richman focuses on each guest’s career path and personal story, in a relaxed format, that seems less like an interview and more like two old friends catching up. While the Podcast’s main goal is to provide valuable and informative insights and resources to those specifically interested in entrepreneurship, retail, sports, and wellness, Richman promises it’s also filled with lighthearted banter and just the right number of laughs.

WEBSITES:
coopandspreevip.com
coopconvos.com

FOLLOW ON INSTAGRAM:
@coopandspree
@coop_convos

ABOUT COOP & SPREE
coop & spree, the brainchild of founder and CEO Brooke S. Richman, first opened in August 2014 in downtown New York City’s Nolita neighborhood as a multi-brand contemporary women’s apparel, accessory, and jewelry boutique. While it was solely brick-and-mortar by design when it opened, coop & spree had to pivot during the COVID-19 pandemic and is now a full-fledged omni-channel retailer with over 70 brands. It operates both a physical store in New York City’s NoHoc neighborhood, via appointment only, and has an e-commerce shopping site. In addition to selling women’s contemporary apparel, accessories, and jewelry, coop & spree has expanded its product offering to include an extensive assortment of children’s apparel and accessories, health and wellness products, paper goods, novelty items and more. coop & spree was just listed this month as a winner on the Inc. Magazine’s Best of Business 2022 list in the “Lean and Mean” category due to its unwavering commitment to philanthropy, specifically to NYC based non-profits which help underprivileged youths in NYC. It’s been featured in publications such as Women’s Wear Daily, The New York Times, US Weekly, Huffington Post, Business Insider and more.

For media inquires:

media@coopandspree.com

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ContactPigeon expands in Cyprus and sponsors the 14th e-Commerce Conference

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NICOSIA, Cyprus, 2022-Sep-28 — /EPR Network/ — ContactPigeon, one of the leading omnichannel customer engagement platforms for retailers in Europe and the USA, expands its operations in Cyprus. By building up a special team of professionals that will be based in the neighboring country, ContactPigeon will be providing its customer engagement services to its cross-industry clients that are operating there. With this expansion, the Greek startup aims to consolidate its reach to the thriving Cyprus market. 

Furthermore, ContactPigeon becomes an official sponsor for the 14th e-Commerce Conference that took place in Nicosia, Cyprus on the 20th of September 2022.

“After attending a very successful conference in Bulgaria, our Pigeons are kicking off autumn with some new adventures. Having several clients in the fast-developing market of Cyprus, we have first-hand knowledge about the impact of eCommerce in the neighboring country, but we have also seen the challenges that retailers face daily. Therefore, by investing in the development of the Cypriot market, we wish to effectively assist businesses that want to evolve and exceed from the competition. We are very excited about this new journey!,” said George Mirotsos, CEO and co-founder of ContactPigeon.

The E-Commerce Conference by IMH is a benchmark for the e-commerce industry in Cyprus. With industry experts as keynote speakers and leading businesses as sponsors and participants, the conference presents the upcoming, international trends in the e-commerce sector as well as case studies that provide attendees with valuable knowledge and insights. The 14th E-Commerce Conference is addressed to entrepreneurs, Commercial Managers, Marketing & Communication and advertising professionals, Digital Managers, and also those who are interested to start operating in the e-Commerce sector.

This year, the participants had the opportunity to meet with ContactPigeon members at its booth and learn about the company’s activities and the benefits of its omnichannel customer engagement platform.

About ContactPigeon

ContactPigeon empowers marketing leaders and business owners with the only omnichannel customer engagement platform built for retailers. The platform is designed to deliver perfectly timed and personalized messages for each customer, regardless of whether the point of contact is offline or online. The company has been awarded numerous industry awards and distinctions since 2015 and is also a member of the Pledge 1% corporate philanthropy movement. Its client base consists of hundreds of retailers in Europe and the USA such as Fujitsu, Tommy Hilfiger, GAP, and L’OREAL.

Contacts

Anna Fotopoulou
Content Marketing Coordinator
+30 211 8006178
marketing@contactpigeon.com
www.contactpigeon.com

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