Mondi plc Shareholders Approve Special Dividend and Share Consolidation in General Meeting

In a significant development for Mondi plc, shareholders voted in favour of key resolutions during the General Meeting held on 15 January 2024. The meeting aimed to address the implementation of a Special Dividend and associated Share Consolidation, with all resolutions passing by a substantial majority.

General Meeting Results

Overview

All resolutions, crucial for the execution of the Special Dividend and Share Consolidation, were successfully passed through a poll. Shareholders demonstrated their support, with over 73% of shares actively participating in the vote.

Resolution Details

Finalisation Announcement

Following shareholder approval, all conditions required for the implementation of the Special Dividend and Share Consolidation have been met. The terms and conditions, along with salient dates and times, remain consistent with the Circular published on 19 December 2023.

Fractional Entitlements

The Share Consolidation will replace every 11 existing ordinary shares with 10 new ordinary shares. Shareholders with fractional entitlements will not receive them directly; instead, these will be aggregated and sold in the market.

Payment Details

(A) Shareholders on the UK Register

• Net proceeds of the sale, after expenses, will be paid proportionally to relevant shareholders.
• Payment, including fractional entitlements, is expected on 12 February 2024. CREST members will receive payments via their CREST accounts, while non-CREST members will receive payments by cheque.

(B) Shareholders on the South African Branch Register

• The cash sum equal to fractional entitlements will be calculated based on the weighted average price of new ordinary shares on the JSE on 24 January 2024, less 10%, in accordance with Listings Requirements.
• Details on cash proceeds will be announced on SENS by the Company before 11:00 a.m. (SA time) on 25 January 2024.

Issuance of Shares

To facilitate the Share Consolidation, three additional ordinary shares of €0.20 each will be issued to the Employee Share Trust. Applications for admission of these shares will be made around 16 January 2024, with expected admission and commencement of trading on or around 19 January 2024.

The total number of existing ordinary shares after the issuance will be 485,553,783, with no shares held in treasury.