Mondi Świecie S.A. intends to acquire Saturn Management Sp. z o.o.

Publication Date:

07 February 2011

Mondi Group wishes to draw attention to subsidiary Mondi Świecie 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 Świecie 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


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.


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.

Last change: 07/02/2011