LONDON (News release) -- Paper and packaging firm Mondi on Friday confirmed that "good" progress is being made in implementing the simplification of its corporate structure, including the processes to obtain the necessary regulatory consents.
In November, Mondi had said it planned to simplify its existing group - comprising Mondi PLC and Mondi Ltd - into a single holding company under Mondi PLC.
Mondi will continue to have a premium listing on the London Stock Exchange and will have an inward secondary listing on the Johannesburg Stock Exchange.
The simplification was approved by Mondi's shareholders in May.
The blue-chip company noted, however, that all regulatory consents have not yet been received. Therefore, it has extended the indicative date for fulfilment or waiver of the conditions for the simplification, but still expects the completion to take place in the second half of 2019.
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