At the Mondi Limited and Mondi plc Annual General Meetings held on 3 May 2013 Mondi obtained shareholder approval to undertake an Odd-lot Offer. The Odd-lot Offer was implemented on 17 July 2013.

The Odd-lot Offer was to facilitate a reduction in the number of ordinary shareholders holding fewer than 100 Mondi Limited ordinary shares and/or fewer than 100 Mondi plc ordinary shares in an equitable way.

The Odd-lot Offer:

  1. (i) enabled Mondi to reduce the recurring costs of administration resulting from the relatively large number of Odd-lot Holders (for example, the costs of printing and distributing financial statements, circulars and notices); and
  2. (ii) provided Odd-lot Holders with an affordable means of exiting their shareholding (i.e. without incurring trading costs) and at a premium to the market price of the Mondi Limited and Mondi plc Ordinary Shares.

The Odd-lot Offer opened on 10 June 2013 and closed on 12 July 2013. To be eligible to participate shareholders had to have held less than 100 Mondi Limited Ordinary Shares and/or less than 100 Mondi plc Ordinary Shares on both the First Record Date (12 April 2013) and also on the Second Record Date (7 June 2013).

Unless eligible Odd-lot Holders expressly elected to retain their shares, the shares were purchased by Mondi and payments issued on 24 July 2013.

Results of the Odd-lot Offer

After the close of the Odd-lot Offer the following Ordinary Shares were purchased:

  • the Mondi Incentive Schemes Trust Trustees purchased 239,633 Mondi Limited Ordinary Shares of no par value on the SA Register at a price of 13854.28 Rand cents per Ordinary Share;
  • Mondi plc purchased 96,591 Mondi plc Ordinary Shares of €0.20 per share on the UK Register at a price of 965.43p per Ordinary Share. Where Odd-lot Holders had elected to receive their funds in Euro the shares were purchased at 1122.63 Euro cents per Ordinary Share; and
  • Mondi plc purchased 322,727 Mondi plc Ordinary Shares of €0.20 per share on the SA Branch Register at a price of 13903.10 Rand cents per Ordinary Share.

Following implementation of the Odd-lot Offer, the total number of shareholders was reduced by approximately 77% (52,714 shareholders). The Ordinary Shares purchased represented approximately 0.14% of the total number of Ordinary Shares in issue.

The Mondi Limited Ordinary Shares on the SA Register were purchased directly by the Mondi Incentive Schemes Trust Trustees and, therefore, there was no change to the issued Ordinary Share capital of Mondi Limited.

The Mondi plc Ordinary Shares on the UK Register and the SA Branch Register were initially purchased by Mondi plc and held as treasury shares. Mondi plc then transferred the shares to the Mondi Employee Share Trust. There was, therefore, no change to the issued Ordinary Share capital of Mondi plc.

Documentation and further information relating to the Odd-lot Offer is available to download:

If you were an eligible Odd-lot Holder and have any queries relating to your shares please contact either the SA Transfer Secretary (Registrar) or UK Registrar, as appropriate. Their contact details are below: 

. Name and Address Telephone Number Email
SA Transfer Secretary (Registrar)

Link Market Services South Africa Proprietary Limited

PO Box 4844
Johannesburg, 2000
South Africa

011 713 0800
(if calling from South Africa)

+27 11 713 0800
(if calling from outside South Africa)

[email protected]
UK Registrar

Capita Asset Services

The Registry
34 Beckenham Road
Beckenham
Kent
BR3 4TU
UK

0871 664 0300
(if calling from the UK)

+44 20 8639 3399
(if calling from outside the UK)

[email protected]
 

Calls to the 0871 664 0300 number cost 12p per minute plus network extras. Lines are open 9.00am to 5.30pm (UK time) Monday to Friday, excluding public holidays. Calls from outside the UK will be charged at the applicable international rate.