MOL settles and signs new option for treasury shares with ING

Deals

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Hungarian oil and gas company MOL said late yesterday it would settle, in cash, an option for 4,863,101 MOL shares with ING Bank at a price of EUR 42.8654 per share on November 28, while also settling physically in the case of 356,899 shares, Hungarian news agency MTI has reported.

MOL and ING concluded a new share option transaction yesterday as part of which MOL received American “call” options and ING received European “put” options regarding 4,863,101 MOL Series “A” ordinary shares. The maturity of the options is one year. The strike price of both “call” and “put” options is EUR 60.22309 per share. The price converts to about HUF 18,685. MOL shares last traded at HUF 18,450 yesterday. As a result of the transactions, MOL will directly and indirectly own 7,914,159 “A” series and 578 “C” series ordinary shares.

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