OREANDA-NEWS. OJSC "Magnit", Russia's largest food retailer (the "Company", the "Issuer", MICEX and LSE: MGNT), announces the disposal of shares by the entity which is under the Issuer's control.

Full company name and address:

joint-stock company "Tander" 185, Levanevskogo street, Krasnodar, Russia

Taxpayer Id Number:

2310031475

Principal State Registration Number:

1022301598549

Object of disposal:

voting shares of the Issuer

Date of disposal:

May 22, 2014

Amount of disposed shares:

25,606 shares (0.027079% of the total equity)

Basis for disposal:

Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange

Amount of votes before disposal:

303,037 votes (0.320466% of the total number of votes)

Amount of votes after disposal:

277,431 votes (0.293387% of the total number of votes)

Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of March 31, 2014, Magnit operated 23 distribution centers and over 8,200 stores (7,341 convenience, 215 hypermarkets, and 700 cosmetics) in more than 1,905 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS consolidated financial statements for 2013, Magnit had revenues of USD 18,202 million USD and an EBITDA of USD 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 one of the largest retailers in Europe.