MOL replaces UniCredit share-option agreements with new deal
Hungarian oil and gas company MOL said that the option rights regarding 5,380,496 MOL Series “A” ordinary shares under the share option agreements signed between UniCredit and MOL on January 27, 2015, are to be settled in cash on February 12 with respect to all the shares under an agreement signed on January 19, Hungarian news agency MTI reported today. The strike price of the options is $41.43762.
Simultaneously, MOL and UniCredit concluded a new share option agreement regarding up to 5,380,496 shares. As a result of the new share option agreement, MOL will acquire American call options and UniCredit will acquire European put options on February 12, 2016.
The maturity of both the new call and put options is 11 months, with the possibility of yearly extensions, up to a maximum of two extensions of one year each.
The number of options, if any, to be physically settled based on the January 27, 2015 agreements, and the final number of shares which are subject to the new call and put options, as well as their strike price, will be defined based on data available as of February 10, 2016, MOL said, adding that it will publish information on those figures and prices.
At present MOL directly and indirectly owns 1,530,080 “A” Series and 578 “C” Series MOL ordinary shares.
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.