Extension of time period for South African institutional investors to rebalance their foreign investment in Mondi plcPublication Date:
18 March 2009
Mondi Group has today been advised by the South African Reserve Bank (SARB) that it has agreed to an extension of the time period within which South Africa institutional investors that received Mondi plc shares as a result of the demerger from Anglo American plc in July 2007 must rebalance their portfolios to fall in line with the applicable foreign investment limits. SARB has agreed to extend the period by a further 24 months, expiring 1 July 2011.
At the time of Mondi’s demerger, and as detailed in the Prospectus dated 1 June 2007, SARB indicated that the inward listing of Mondi plc ordinary shares on the JSE Limited would be treated as foreign assets in the hands of qualifying South African investors. SARB had given a period of 24 months from the date of demerger (2 July 2007) for institutional investors to rebalance their portfolios in line with the foreign investment limits.
Individuals continue to be permitted to hold their Mondi plc ordinary shares without restriction. Similarly, in accordance with Exchange Control Circular No. 7/2008, South African companies, trusts, partnerships and banks are permitted to trade and hold inward listed (foreign) securities.
(Incorporated in the Republic of South Africa)
(Registration number: 1967/013038/06)
JSE share code: MND ISIN: ZAE000097051
(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: 23/03/2009