REG-O'KEY Group S.A. O`KEY GROUP ANNOUNCES CHANGES TO ITS CORPORATE MANAGEMENT

O'Key SAAnnouncement

15/11/2023 06:45

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   O'KEY Group S.A. (OKEY)
   O`KEY GROUP ANNOUNCES CHANGES TO ITS CORPORATE MANAGEMENT

   15-Nov-2023 / 07:30 CET/CEST

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   Press release

   15 November 2023

    

           O`KEY GROUP ANNOUNCES CHANGES TO ITS CORPORATE MANAGEMENT

                                        

   O`KEY Group S.A. (AIX, LSE, MOEX: OKEY, the “Group” or the “Company”), one
   of Russia’s  leading  food  retailers,  today  announces  changes  to  its
   corporate management. Armin Burger, who until recently headed both  retail
   formats of the Company, will focus  on managing the discounter segment  in
   the role of Chief Executive Officer of DA! business. Konstantin  Arabidis,
   current O’KEY Chief Financial  Officer, is taking over  the role of  Chief
   Executive Officer at O’KEY hypermarket segment.

    

   All materials  published by  the Group  are available  on its  website  at
    1 www.okeygroup.lu.

    

   O’KEY Group has today announced changes to its corporate governance.

   Armin Burger, who  has served as  Chief Executive Officer  for both  O’KEY
   hypermarkets and DA! discounters since 2018, will focus on the development
   of the discounter segment as a key area of growth of the Group's  business
   as CEO of the  format. Armin's goals will  include further development  of
   the  discounter   business,   increasing   its   operational   efficiency,
   profitability and competitiveness in the current market environment.

   In parallel,  Konstantin  Arabidis,  who has  served  as  Chief  Financial
   Officer, is taking over the role of Chief Executive Officer of O’KEY on 15
   November 2023.

   Konstantin  Arabidis  has  been  O’KEY  Chief  Financial  Officer  and   a
   Management Board member  since 2016.  In his  role, he  has been  actively
   worked on the  Company’s strategy, business  development, and  operational
   efficiency and  has a  significant depth  of knowledge  and experience  in
   retail business. Konstantin  started his  career at PWC  and held  various
   positions there before joining O’KEY in 2012.

   Both Armin  Burger and  Konstantin  Arabidis in  their roles  will  report
   directly to the Group’s Board of Directors.

   The Board of Directors  of the Group  thanks Armin for  his work at  O’KEY
   hypermarkets over the past five  years. Under his leadership, the  Company
   significantly transformed and modernised the hypermarket business  concept
   and managed  to  deliver  sound results  despite  the  challenging  market
   environment. In the future,  Armin's main focus  will be on  strengthening
   the positions  of DA!  discounters and  improving the  efficiency of  this
   perspective segment of the Group's business.

   One of the main tasks of the O’KEY management team under the leadership of
   Konstantin Arabidis will be further transformation of the format in  order
   to strengthen  its  market  position,  improve  customer  proposition  and
   increase operational efficiency of O’KEY hypermarkets.

    

   For more information, please contact:

    

   Natalya Belyavskaya

   Head of Investor Relations

   +7 495 663 6677 ext. 266
                                       
    2 Natalya.Belyavskaya@okmarket.ru

    3 www.okeygroup.lu

    

    

   ABOUT O`KEY GROUP

   O`KEY Group S.A.  (AIX, LSE,  MOEX: OKEY) is  one of  the leading  grocery
   retailers in  Russia, operating  hypermarkets under  the O`KEY  brand  and
   discounters under the DA! brand.

   As of  30 September  2023, the  Group  operated 296 stores  across  Russia
   (77 hypermarkets and  219 discounters)  with  a  total  selling  space  of
   658,696 sq m. O`KEY opened its first hypermarket in St Petersburg in  2002
   and has since  demonstrated continuous  growth. It was  the first  Russian
   food retailer to  launch e-commerce  operations offering a  full range  of
   hypermarket products  for home  delivery.  The Group  operates  e-commerce
   pick-up and delivery points  in 35 O’KEY  hypermarkets: twelve in  Moscow,
   eighteen in St Petersburg, one in Sochi,  and four in Krasnodar. In  2015,
   we launched the first  discount chain in Russia  under the DA! brand.  The
   Group operates five distribution centres  in Russia – three in Moscow  and
   two in St Petersburg – and employs 21,900 people.

   In 2022, the Group’s revenue amounted to RUB 202.2 bn, and EBITDA  reached
   RUB 17.0 bn.

   The O`KEY  Group shareholder  structure  is as  follows:  NISEMAX Co Ltd –
   49.11%. GSU Ltd – 34.14%, free-float and other holders – 16.75%.

    

   DISCLAIMER

   These materials contain  statements about future  events and  expectations
   that are forward-looking  statements. These  statements typically  include
   words such as ‘expects’ and ‘anticipates’ and words of similar import. Any
   statement in these materials that is not a statement of historical fact is
   a  forward-looking  statement  that  involves  known  and  unknown  risks,
   uncertainties and  other  factors  that  may  cause  our  actual  results,
   performance or achievements  to be  materially different  from any  future
   results,  performance  or  achievements  expressed  or  implied  by   such
   forward-looking statements.

   None of the  future projections, expectations,  estimates or prospects  in
   this announcement should  be taken  as forecasts or  promises, nor  should
   they be taken as implying any indication, assurance or guarantee that  the
   assumptions on which such  future projections, expectations, estimates  or
   prospects have been prepared are correct or exhaustive or, in the case  of
   the  assumptions,  fully  stated  in  this  announcement.  We  assume   no
   obligations to update the  forward-looking statements contained herein  to
   reflect actual  results,  changes in  assumptions  or changes  in  factors
   affecting these statements.

    

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          US6708662019
   Category Code: MSCH
   TIDM:          OKEY
   LEI Code:      213800133YYU23T4L791
   Sequence No.:  284882
   EQS News ID:   1773379


    
   End of Announcement EQS News Service

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References

   Visible links
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