Mondi
plc
(Incorporated in England and
Wales)
(Registered
number:
6209386)
LEI: 213800LOZA69QFDC9N34
JSE share
code: MNP ISIN:
GB00B1CRLC47
LSE share
code: MNDI
NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN,
INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT
JURISDICTION.
THIS
ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
FOR
IMMEDIATE RELEASE.
7 December 2023
Mondi
receives final payments from sale of Syktyvkar; net proceeds to be
distributed to Mondi shareholders via a special dividend with
associated share consolidation
On
17 September 2023, Mondi plc ("Mondi"
or the "Company") announced that it had entered into an agreement
to sell its last remaining facility in Russia, Joint Stock Company Mondi Syktyvkar,
together with two affiliated entities (together "Mondi Syktyvkar")
to Sezar Invest LLC ("Sezar Invest"), with the transaction
completing on 4 October
2023.
The total
cash consideration of RUB 80 billion
has now been received by Mondi, including the two remaining
instalments in November and December
2023, totalling RUB 23 billion
in aggregate, and as referred to in Mondi's announcement on
4 October 2023.
The
proceeds have all been converted into Euros.
The net
proceeds from the sale of all Mondi's Russian assets, which include
both Mondi Syktyvkar sold in October
2023 and the three converting operations sold in
June 2023, amount to approximately
€775 million.
The net
proceeds will be distributed to Mondi shareholders by way of a
special dividend, with an associated share consolidation, both
subject to shareholder approval.
Distributing
the net proceeds by way of a special dividend allows for a timely
return of cash to Mondi shareholders. The accompanying share
consolidation is intended, as far as possible, to maintain the
comparability of the Company's share price before and after the
special dividend is paid.
A circular containing details of the special dividend and share
consolidation, as well as a notice convening a general meeting of
shareholders and details of the resolutions to be considered, is
expected to be published shortly.
If
approved, the special dividend is expected to be paid, and the
share consolidation to take effect, in the first quarter of
2024.
-
END
-
Enquiries
Investors/analysts:
Fiona Lawrence
+44
7425 878 683
Mondi
Group Head of Investor Relations
Media:
Chris Gurney +44
7990 043 764
Mondi
Group Head of Corporate Communication
Richard Mountain (FTI Consulting) +44
7909 684 466
Editor's
notes
Mondi is a
global leader in packaging and paper, contributing to a better
world by making innovative solutions that are sustainable by
design. Our business is integrated across the value chain - from
managing forests and producing pulp, paper and films, to developing
and manufacturing sustainable consumer and industrial packaging
solutions using paper where possible, plastic when useful.
Sustainability is at the centre of our strategy, with our ambitious
commitments to 2030 focused on circular driven solutions, created
by empowered people, taking action on climate.
In 2022,
Mondi had revenues of €8.9 billion and underlying EBITDA of €1.8
billion from continuing operations, and employed 22,000 people
worldwide. Mondi has a premium listing on the London Stock Exchange
(MNDI), where the Group is a FTSE100 constituent, and also has a
secondary listing on the JSE Limited (MNP).
Sponsor in
South Africa: Merrill Lynch South
Africa Proprietary Limited t/a BofA Securities.