Mondi plc will continue to have premium listing on LSE, Mondi Ltd to be delisted from Johannesburg stock exchange.
Mondi Group announced in November 2018 that it would simplify its dual corporate structure. To do so, LSE-listed Mondi plc would acquire all the shares in Mondi Ltd, which is listed at the Johannesburg stock exchange JSE. As a result, shareholders would receive one new Mondi plc share for each Mondi Ltd share. Mondi plc would continue to have a premium listing on the LSE.
The company has now published documentation on these transactions. Please find more details here: https://www.mondigroup.com/en/investors/corporate-actions/simplification-of-corporate-structure/.
The conversion and transaction is subject to the approval of the shareholders of both companies and of various authorities. Shareholders' annual general meetings of both companies will be held on 9 May. If the necessary approvals are obtained, the newly issued shares of Mondi plc will be traded on the London Stock Exchange from 1 July. On 2 July, the shares of Mondi Ltd. will be delisted from the Johannesburg Stock Exchange.
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