MOL settles and signs new option for treasury shares with ING
Hungarian oil and gas company MOL said late Monday it would settle, in cash, an option for 33,740,338 MOL shares with ING Bank at a price of EUR 10.06269 per share on November 28, Hungarian news agency MTI reported.
The price is equivalent to about HUF 3,244, at current exchange rates. MOL closed at HUF 3,172 on Monday.
At the same time, MOL and ING entered into a new share purchase agreement and share option agreement.
Under the share purchase agreement, ING will receive an additional 2,097,955 shares.
Under the share option agreement, MOL is receiving American call options and ING is getting European put options for 35,838,293 shares with the effective date of November 28, 2018. The maturity date of both the call and put options is November 26, 2019, and the strike price of both options is EUR 9.8491 per share.
Following the transaction, MOL directly and indirectly owns 74,731,435 ʼAʼ Series and 578 ʼCʼ Series ordinary shares.
Hungary CPI Drop Acknowledged at IMF/World Bank Spring Meeti...
Hungary to Address Future of Cohesion Policy During EU Presi...
AI may Save Hungarian Healthcare, Says Leading Doctor
Time Out Market to Open in Budapest Next Year
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.
