Lenta Ltd Appointment of new Directors (3707A)
May 28 2019 - 10:09AM
UK Regulatory
TIDMLNTR TIDMLNTA
RNS Number : 3707A
Lenta Ltd
28 May 2019
LENTA ANNOUNCES APPOINTMENT OF NEW DIRECTORS
St. Petersburg, Russia; 28 May 2019 - Lenta Ltd. ("Lenta" or the
"Company"), one of the largest retail chains in Russia, announces
that Messrs. Alexey Mordashov, Roman Vasilkov, Maxim Bakhtin and
Alexey Kulichenko have been appointed today as directors of the
Company (the "Board") with immediate effect.
Since LLC "Severgroup" ("Severgroup") has recently acquired in
aggregate more than 50% of the Lenta voting shares (including in
the form of GDRs, excluding treasury shares), the Board has used
its authority to fill the four vacated seats on the Board to place
Messrs. Alexey Mordashov, Roman Vasilkov, Maxim Bakhtin and Alexey
Kulichenko as nominees of Severgroup on the Board (with their term
expiring at the next Lenta shareholders meeting).
Biographies of the new directors will be available at Lenta
website:
http://www.lentainvestor.com/en/about/corporate-governance/board-of-directors.
About Lenta
Lenta is the largest hypermarket chain in Russia and the
country's third largest retail chain. The Company was founded in
1993 in St. Petersburg. Lenta operates 244 hypermarkets in 88
cities across Russia and 132 supermarkets in Moscow, St.
Petersburg, and the Siberia, Urals and Central regions, with a
total of approximately 1,465,426 sq.m. of selling space. The
average Lenta hypermarket store has selling space of approximately
5,500 sq.m. The average Lenta supermarket store has selling space
of approximately 800 sq.m. The Company operates 12 owned
distribution centers.
The Company's price-led hypermarket formats are differentiated
in terms of their promotion and pricing strategies as well as their
local product assortment. The Company employed approximately 45,759
people as of 31 December 2018.
The Company's management team combines a mix of local knowledge
and international expertise coupled with extensive operational
experience in Russia. Lenta's largest shareholders include
Severgroup, which is committed to maintaining high standards of
corporate governance. Lenta is listed on the London Stock Exchange
and on the Moscow Exchange and trades under the ticker: 'LNTA'.
A brief video summary on Lenta's business and its Big Data
initiative can be seen here.
For further information please visit www.lentainvestor.com, or
contact:
Lenta Russian Media:
Mariya Filippova NW Advisors
PR and GR manager Anton Karpov & Victoria Afonina
Tel: +7 812 380-61-31 ext.: el:+7 495 795 06 23
1892 E-mail: lenta@nwadvisors.com
E-mail: maria.filippova@lenta.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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