Hungarian oil and gas company MOL said Tuesday it agreed with MUFG Securities EMEA that the option rights in relation to 5,303,295 MOL Series “A” Ordinary shares under a share option agreement they concluded on November 6, 2018 will be settled in cash on November 13, 2019, state news wire MTI reports.
The strike price of the options is EUR 9.0559.
Simultaneously, MOL and MUFG entered into a new share purchase agreement and a share option agreement. According to the share purchase agreement, MUFG will receive 5,648,407 shares.
According to the option agreement, MOL receives American call options and MUFG receives European put options in relation to 10,951,702 MOL Series “A” Ordinary shares, with starting date of November 13, 2019.
The maturity date of both the call and put options is June 16, 2020 and the strike price of both options is EUR 9.16 per share.
Following this transaction, MOL directly and indirectly owns 60,596,746 “A” Series and 578 “C” Series MOL ordinary shares.