MOL to settle option for 5.2 mln treasury shares, signs new option for same number

Deals

Hungarian oil and gas company MOL said yesterday that it would settle, in cash, an option for 5,220,000 MOL shares with ING Bank at a price of $49.21 per share on November 27. The company also said it had signed another call option for an identical number of shares.

The price amounts to approximately HUF 14,473 per share. MOL shares last traded at HUF 13,490 on Monday.

Under the agreement with ING, MOL received an American call option and ING received a European put option for 5,220,000 MOL shares at a price of €44.68 per share. The options are both for one year.

MOL said its treasury share stock was unchanged after the transactions.

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