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.