| Mon 7 Feb 2011, 9:00 | | MND/MNP - Mondi Limited/Mondi plc - Mondi Swiecie S.A. intends to acquire Saturn |
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MND MNP
MND MNP
MND/MNP - Mondi Limited/Mondi plc - Mondi Swiecie S.A. intends to acquire Saturn
Management Sp. z o.o.
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.
Mondi Group wishes to draw attention to subsidiary Mondi Swiecie 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 Swiecie S.A. intends to acquire Saturn Management Sp. z o.o.
Mondi Swiecie 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:
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
Euro28.815m. As at 31 December 2009, SM reported net debt of PLN254.627m
(Euro61.98m);
Consent of the financing banks of SM; and
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.
7 February 2011
Sponsor: UBS South Africa Pty Ltd
Date: 07/02/2011 09:00:08 Produced by the JSE SENS Department.
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