ING, MNV voting rights in MOL rise after capital reduction

In Hungary

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Hungarian oil and gas company MOL revealed Friday it had been informed by shareholders ING Group and Hungarian National Asset Management Inc. (MNV) of changes to their voting rights following a 2% reduction in share capital, Hungarian news agency MTI reported.

After the reduction, registered on July 11, the voting stake of ING Group rose from 4.997% to 5.10%, crossing the mandatory disclosure threshold. The voting rights of MNV climbed from 24.74% to 25.24%. The reduction took place through the withdrawal of treasury shares.  

MOL’s treasury share stock rose to 7.2% this year after it settled a call option for shares conferring a 5.75% ownership stake with special-purpose vehicle Magnolia. MOL had sold the shares to Magnolia 10 years earlier.

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