Mondi Plc recently disclosed that two of its directors, Group CEO Andrew King and Group CFO Mike Powell, 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 Shares using monthly deductions from their salary and receive allocations of free matching Mondi Shares.
The transactions, which took place on 7th June 2024, involved the acquisition of 20 ordinary shares of 0.22 each at a price of 14.9928. Notably, half of the shares acquired were obtained for nil consideration. The price for the nil consideration Matching Shares reflects the market value on the day of purchase. The transactions were conducted on the London Stock Exchange (XLON).
This announcement provides insight into the company's commitment to its employees' participation in Mondi's growth and success through the SIP. It also demonstrates the confidence of the directors in the company's future, as they have chosen to acquire shares through this scheme.