Mpact Director Transfers Shares in Off-Market Deal, Valued at R6.98 Million

mpact AGM
  • Mpact Limited discloses off-market transfer of shares by Director Brett Clark to an associate, Monika Clark.
  • The transaction involves 263,500 ordinary shares at a deemed price per share of R26.50, with a total value of R6,982,750.00.
  • Clearance for the transaction was obtained, demonstrating compliance with regulatory requirements and ensuring transparency within the company.

Mpact Limited revealed a recent off-market transaction involving one of its directors, Brett Clark. The company disclosed the details of the transaction in compliance with the JSE Limited Listings Requirements, ensuring transparency and accountability within the organization.

On June 12, 2023, Brett Clark, who holds positions as Director and Prescribed Officer of Mpact Limited and its major subsidiary, Mpact Operations (Pty) Ltd, executed the transfer of Mpact shares. The shares were transferred from the Brett Clark Family Trust to Monika Clark, an associate.

A total of 263,500 ordinary shares were transferred at a deemed price per share of R26.50, resulting in the transaction’s total value of R6,982,750.00. Both Brett Clark and Monika Clark now hold an indirect beneficial interest in the shares, as confirmed by the company.

The necessary clearance for the transaction was obtained, indicating that the transfer adheres to the regulatory requirements and guidelines. By providing this information, Mpact Limited demonstrates its commitment to maintaining transparency and upholding the JSE Limited Listings Requirements, which are designed to ensure fair practices and accountability within the industry.

Mpact Limited is a prominent South African packaging company with a strong focus on sustainability. The company offers a comprehensive range of packaging solutions to various industries, emphasizing environmentally friendly practices and innovative approaches to packaging.

As a leading provider of paper and plastic packaging, Mpact Limited serves a wide range of sectors, including fast-moving consumer goods, industrial, and agriculture. The company’s commitment to sustainability and minimizing its environmental impact has made it an industry leader in delivering high-quality packaging solutions.

This recent transaction involving the transfer of shares between Brett Clark and Monika Clark exemplifies Mpact Limited’s ability to navigate the complexities of corporate shareholdings and investments. The company’s disclosure underscores its dedication to transparency and accountability in its dealings.

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