MOL to settle, replace share option agreements with UniCredit
Hungarian oil and gas company MOL said late yesterday it expects to settle option rights with UniCredit Bank for a little more than 5% of its shares, physically and in cash, on January 12, Hungarian news agency MTI reported.
The strike price of the options is EUR 42.2198. At current exchange rates, the price comes to about HUF 13,060. MOL shares closed at HUF 20,900 yesterday.
At the same time MOL settles the option agreement, it will enter into a new one with UniCredit Bank for up to the same number — 5,380,496 — of shares. Under the new share option agreement, MOL will acquire American call options and UniCredit will acquire European put options maturing on November 14. The maturity of the options may be extended annually up to two times for periods as long as one year.
The final number of shares subject to the new call and put options, as well as the strike price, will be determined based on data available on January 10, MOL said.
MOLʼs stock of treasury shares stands at 7,914,159 "A" Series and 578 "C" Series at present.
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