O`KEY GROUP board decisions

O`KEY Group S.A. (LSE: OKEY, the ‘Group’ or the ‘Company’), one of the leading food retailers in Russia, announces the key decisions taken by its Board of Directors at a meeting on 26 March 2018.

  1. The Board resolved to adopt and approve the Statutory Management Report, the Consolidated Management Report, the Statutory financial statements and the Consolidated financial statements of the Company and its subsidiaries for the accounting year ended December 31, 2017; 
  2. The Board resolved to propose to the shareholders of the Company to approve as final the Interim Dividend in an amount of USD 24,666,013.58 and to carry forward the balance of the net profit to the next accounting year; 
  3. The Board resolved to submit for approval to the shareholders of the Company the Aggregate Compensation of Directors, the Chairman of the Audit Committee and the senior management of the Company for the year ending on December 31, 2018; 
  4. The Board noted the recommendation made by the Audit Committee to put for shareholders’ approval at the upcoming annual general meeting, the appointment of PricewaterhouseCoopers, Société coopérative as approved statutory auditor (réviseur d’entreprises agréé) for the statutory and consolidated financial statements of the Company for the accounting year ended December 31, 2018; 
  5. The Board resolved to adopt and approve the Group’s budget for the year ending on December 31, 2018; 
  6.  The Board resolved to approve the terms of the buy-back program with respect to global depositary receipts and submission of relevant resolutions to the annual general meeting; 
  7. The Board resolved to convene the annual general meeting of the Company for Friday, 27 April 2018 at 10:00 a.m. 

The buy-back program is intended to provide shares for the long-term incentive program for the Company’s management and to return capital to shareholders in a manner that will improve liquidity.

COMPANY OVERVIEW

O`KEY Group S.A. (LSE: OKEY, Fitch – ‘B+’) is one of the largest retail chains in Russia. The Company operates under two main formats: hypermarkets under the ‘O`KEY’ brand and discounters under the ‘DA!’ brand. As at April 3, 2018, the Group operates 145 stores across Russia. The Group opened its first hypermarket in St. Petersburg in 2002 and has since demonstrated continuous growth. O`KEY is the first among Russian food retailers to launch and actively develop e-commerce operations in St. Petersburg and Moscow, offering a full range of hypermarket products for home delivery. The Company operates four distribution centres across the Russian Federation. For the full year 2017, revenue totalled RUB 177,454,848 thousand, EBITDA reached RUB 9,334,993 thousand, and the net income for the period amounted to RUB 3,166,913 thousand. O`KEY shareholder structure is as follows: NISEMAX Co Ltd – 50.95%, GSU Ltd – 29.52%, free float – 19.53%.

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