In a move aimed at streamlining its share structure, Mondi plc, a global leader in packaging and paper, has announced the successful implementation of its Share Consolidation plan. The consolidation, which was approved by shareholders at the General Meeting held earlier this month, came into effect on January 29, 2024.
Admission of New Ordinary Shares
As part of the consolidation process, Mondi’s New Ordinary Shares are set to be admitted to the premium listing segment of the Official List of the Financial Conduct Authority (FCA) and to trading on the London Stock Exchange’s Main Market for listed securities. Additionally, these shares will be traded on the main board of the Johannesburg Stock Exchange (JSE). The admission to both exchanges is scheduled to occur today, January 29, 2024.
Changes in Share Structure
Following the Share Consolidation, Mondi’s issued share capital now comprises 441,412,530 ordinary shares of €0.22 each. Notably, there are no shares held in treasury. Consequently, the total number of shares with exercisable voting rights in Mondi stands at 441,412,530.
For shareholders and other stakeholders, this consolidation will impact their calculations for notification obligations under the FCA’s Disclosure Guidance and Transparency Rules. The company advises stakeholders to use the aforementioned figure as the denominator for such calculations.
The implementation of the Share Consolidation marks a significant step for Mondi plc as it continues its commitment to operational efficiency and value creation for its stakeholders.
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