PJSC M.video (M.Video-Eldorado Group, the Company, or the Group; MOEX: MVID), a Russia’s leading e-commerce and consumer electronics retailer,announces that Mr Said Gutseriev made a decision to withdraw from the Board of Directors of PJSC M.video.
Said Gutseriev decided to withdraw from the Board of Directors of PJSC M.video by sending a relevant notice to the Company and confirmed that the previously announced transaction for the sale of shares of PJSC M.Video, directly and/or indirectly owned by him, had reached the final stage.
On June 29, 2022, the UK imposed sanctions against Mr Said Gutseriev. M.Video-Eldorado Group is not included in the sanctions lists and continues its operations at a full scale.
The Company will report changes in the share capital structure upon their completion in accordance with applicable law and corporate governance practices.