MOL announces conditions of ING share option agreement

Deals

Hungarian oil and gas company MOL on Wednesday announced the terms and conditions of a share option agreement it concluded with ING Bank on June 14, according to a report by state news wire MTI.

Under the agreement, MOL will get American call options and ING will receive European put options on 36,719,933 shares with an effective date of June 25, 2021. The maturity date of both the call and put options is June 23, 2022, and the strike price of both options is EUR 6.8742 per share.

The strike price is the equivalent of around HUF 2,401 at current exchange rates. MOL shares closed at HUF 2,404 on Wednesday.

The shares affected by the options account for 4.48% of MOL's share capital.

MOL noted that under a share option agreement it executed with ING Bank on June 17, 2020, 2,460,040 MOL shares will be physically settled and 36,719,933 shares will be cash-settled on June 25, 2021.

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