MOL to settle, replace share option agreements with UniCredit

Deals

jessica fejos

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.

ADVERTISEMENT

Business, consumer confidence improves - Századvég Analysis

Business, consumer confidence improves - Századvég

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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.