Mondi Plc recently disclosed that two of its directors, Andrew King (Group CEO) and Mike Powell (Group CFO), have acquired partnership and free matching shares through the Mondi Share Incentive Plan (SIP). The SIP is an all-employee trust arrangement approved by UK HM Revenue and Customs, allowing UK employees to purchase Mondi plc's Ordinary shares using monthly deductions from their salary and receive allocations of free matching Mondi Shares. The transactions took place on 5th July 2024, with half of the acquired shares being obtained for nil consideration, reflecting the market value on the day of purchase.
Andrew King and Mike Powell each acquired 18 Ordinary shares of 0.22 each at a price of 15.4878. The transactions were conducted on the London Stock Exchange (XLON). The disclosure provides details of the persons discharging managerial responsibilities, the nature of the transactions, and the specific financial instruments involved.
This announcement offers transparency regarding the directors' participation in the SIP and their acquisition of Mondi plc shares, aligning with the company's commitment to providing relevant information to its stakeholders and the public.