MOL settles and signs new option for treasury shares with ING

In Hungary

Hungarian oil and gas company MOL said late Monday it would settle, in cash, an option for 33,740,338 MOL shares with ING Bank at a price of EUR 10.06269 per share on November 28, Hungarian news agency MTI reported.

The price is equivalent to about HUF 3,244, at current exchange rates. MOL closed at HUF 3,172 on Monday.

At the same time, MOL and ING entered into a new share purchase agreement and share option agreement.

Under the share purchase agreement, ING will receive an additional 2,097,955 shares.

Under the share option agreement, MOL is receiving American call options and ING is getting European put options for 35,838,293 shares with the effective date of November 28, 2018. The maturity date of both the call and put options is November 26, 2019, and the strike price of both options is EUR 9.8491 per share.

Following the transaction, MOL directly and indirectly owns 74,731,435 ʼAʼ Series and 578 ʼCʼ Series ordinary shares. 

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