ADVERTISEMENT

MOL, OTP extend share swap agreement to 2022

In Hungary

pixabay

Hungarian oil and gas company MOL and OTP Bank have extended a share swap agreement initially concluded in 2009 until 2022, the parties disclosed after the market closed on Wednesday, Hungarian news agency MTI reported.

Under the swap agreement, MOL exchanged 5,010,501 of its series "A" shares for 24,000,000 OTP ordinary shares on April 16, 2009. The agreement was extended on July 11, 2012. The latest extension runs to July 11, 2022, until which time either party can initiate cash or physical settlement of the transaction.

The MOL and OTP shares account for 4.9% and 8.6%, respectively, of each companyʼs share capital.

MOL Renovates Base Storing Strategic Kerosene Reserves Energy Trade

MOL Renovates Base Storing Strategic Kerosene Reserves

EC Advances Infringement Procedure Over Hungary's Sovereignt... EU

EC Advances Infringement Procedure Over Hungary's Sovereignt...

Hell Energy Inaugurates HUF 80 bln Capacity Expansion Manufacturing

Hell Energy Inaugurates HUF 80 bln Capacity Expansion

Puskás Arena to Host 2026 Champions League Final In Budapest

Puskás Arena to Host 2026 Champions League Final

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.