ADVERTISEMENT

MOL to settle option agreement with ING Bank, signs for new one

Initiatives

Hungarian oil and gas company MOL has agreed with ING Bank that the option rights stemming from the share-option agreement concluded between them on January 4, 2011 regarding 5,220,000 A-series MOL ordinary shares will be cash settled with respect to all of the shares on December 5, 2011 at a strike price of €78.6028 per share, MOL announced on Wednesday.

At the same time, MOL and ING signed a share-option agreement on November 30, 2011. As a result of the transactions, MOL received an American call option and ING received an European put option regarding the 5,220,000 MOL A-series ordinary shares. The maturity of both options is one year. The strike price of both call and put option is €59.519 per one share.

As a result of the transactions the number of treasury shares has not changed. MOL owns 5,793,316 A-series and 578 C-series MOL Ordinary shares.

ADVERTISEMENT

Czech economic confidence weakens in November Analysis

Czech economic confidence weakens in November

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

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.