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1. General information

The consolidated financial statements of OJSC “Company M.video” (the “Company”) and subsidiary (the “Group”) for the year ended 31 December 2013 were authorized for issue in accordance with a resolution of the Board of Directors on the 26 March 2014.

The Company and its subsidiary (see the table below) are incorporated in the Russian Federation. The Company is registered at: 40/12, building 20, Nizhnaya Krasnoselskaya Street, Moscow, 105066, Russian Federation.

LLC “Company M.video” was incorporated on 3 December 2003. On 25 September 2006 the Company was reorganized from a Limited Liability Company to an Open Joint Stock Company. Following the initial public offering in November 2007, the Company’s ordinary shares were admitted to trading on MICEX stock exchange (Moscow Exchange) in the Russian Federation.

The Group is the operator of a chain of consumer electronic outlets and online internet stores operating in the Russian Federation. The Group specializes in the sale of TV, audio, video, Hi–Fi, home appliances and digital equipment, as well as related services. The Group comprises a chain of owned and leased stores (333 stores as at 31 December 2013; 296 stores as at 31 December 2012) and online internet stores in Moscow and 51 other cities (online internet stores in Moscow and 16 other cities as at 31 December 2012).

The accompanying consolidated financial statements include assets, liabilities and result of operations of the Company and its subsidiary as at 31 December 2013 and 2012 (the below subsidiary operates in the Russian Federation):

Name of subsidiary Nature of business Proportion of ownership interest and voting power held, % 31 December 2013 Proportion of ownership interest and voting power held, % 31 December 2012
LLC “M.video Management” Retailing 100 100

Shareholders

As at 31 December 2013 and 2012 the registered shareholders of OJSC “Company M.video” and their respective ownership and voting interests were as follows:

  2013 2012
“Svece Limited” 57.6755% 57.7868%
Various shareholders 42.3245% 42.2132%
Total 100% 100%

Ultimate Shareholders

“M.video Investment Ltd.” (BVI), a company incorporated in the British Virgin Islands controls 100% of the voting and ordinary shares of “Svece Limited” (a company incorporated in Cyprus), and is the ultimate parent entity of the Company. Mr. Alexander Tynkovan, a citizen of the Russian Federation, has a controlling interest in “M.video Investment Ltd.” (BVI).