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MOL settling options agreement with Commerzbank

Banking

Hungarian oil and gas company MOL yesterday said the option rights concerning 888,250 MOL Series "A" ordinary shares under the share option agreement executed between MOL and Commerzbank will be physically settled and 9,844,626 shares will be cash-settled on June 18, 2021, according to business daily Világgazdaság.

As a result, MOL will acquire 888,250 treasury shares. On June 16, 2021, MOL and Commerzbank entered into a share option agreement where MOL will receive American call options, and Commerzbank will receive European put options in relation to 9,844,626 shares with the effective date of June 18, 2021.

The maturity date of both the call and put options is June 16, 2022, and the strike price of both options is EUR 7.0089 per share. As a result of the transactions, the number of treasury shares increases by 888,250; MOL, directly and indirectly, owns 61,439,112 "A" Series and 578 "C" Series MOL ordinary shares.

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