Mondi Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1967/013038/06)
JSE share code: MND ISIN: ZAE000097051
Mondi plc
(Incorporated in England and Wales)
(Registration number: 6209386)
JSE share code: MNP ISIN: GB00B1CRLC47
LSE share code: MNDI
As part of the dual listed company structure, Mondi Limited and Mondi plc
(together 'Mondi Group') notify both the JSE Limited and the London Stock
Exchange of matters required to be disclosed under the JSE Listings
Requirements and/or the Disclosure and Transparency and Listing Rules of the
United Kingdom Listing Authority.
7 February 2011
Mondi Group wishes to draw attention to subsidiary Mondi Åšwiecie S.A.'s
announcement of it's intention to exercise an option to acquire 100% of the
shares in Saturn Management Sp. z o.o..
Mondi Åšwiecie S.A. intends to acquire Saturn Management Sp. z o.o.
Mondi Åšwiecie S.A. (the Mondi Group's 66% owned subsidiary in Poland) has
announced its intention to exercise an option to acquire 100% of the shares in
Saturn Management Sp. z o.o (SM). SM owns the power and heat generating plant
which supplies Mondi Swiecie S.A. with the majority of its electricity
requirements and all its heat and steam needs.
The transaction is subject to the following conditions:
i. Obtaining a ruling from the Arbitration Court of the National Chamber of
Commerce in Poland confirming that the Voluntary Call Option (as provided
for in an Agreement between the parties dated 29 April 2002) remains
binding on the conditions set out in the claim, including inter alia the
determination of the purchase price. Based on the formula presented in the
claim, the purchase price for 100% of the shares in SM under the Voluntary
Call Option is calculated at €28.815m. As at 31 December 2009, SM reported
net debt of PLN254.627m (€61.98m);
ii. Consent of the financing banks of SM; and
iii. Approval of the relevant competition authorities.
The claim referred to above was filed with the Arbitration Court of the
National Chamber of Commerce on 4 February 2011.
/ends
Contact
Lora Rossler
+27(0)31 451 2111
or
+27(0)83 627 0292
E-mail: lora.rossler@mondigroup.co.za
Andrew King
+27(0)11 994 5415
E-mail: andrew.king@mondigroup.com
Editors' notes
Mondi is an international paper and packaging company, with production
operations across 31 countries and revenues of Euro5.3 billion in 2009. The
Group's key operations are located in central Europe, Russia and South Africa
and employed 31,000 people on average in 2009.
Mondi is fully integrated across the paper and packaging process, from the
growing of wood and the manufacture of pulp and paper (including recycled
paper), to the conversion of packaging papers into corrugated packaging and
industrial bags.
The Group is principally involved in the manufacture of uncoated fine paper
(UFP), packaging paper and converted packaging products, as well as speciality
products.
Mondi has a dual listed company structure, with a primary listing on the JSE
Limited for Mondi Limited under the ticker code MND and a premium listing on
the London Stock Exchange for Mondi plc, under the ticker code MNDI. The Group
has been recognised for its sustainability performance through its inclusion in
the FTSE4Good UK, Europe and Global indices in 2008 and 2009 and the JSE's
Socially Responsible Investment (SRI) Index in 2007, 2008 and 2009.
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