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MOL, UniCredit modify options contract price

Hungarian oil and gas company MOL announced a modification to the price in a contract with UniCredit Bank on the bank's purchase of 2,914,692 treasury shares and an option by MOL to repurchase the shares.

MOL and UniCredit Bank signed the contract on the bank's purchase of 2,914,692 treasury shares and an option by MOL to repurchase the shares on February 8.

Under the agreement, MOL has an American call option for the shares and UniCredit Bank a European put option for the same shares.

The options, which expire in a year from the date of signing but may be extended for a maximum of three years, were both at a price of €85.77234 per share in the original contract.

Under the modified contract, the price has been changed to €86.71535 per share.

The new price is about HUF 22,921 at the National Bank of Hungary's fixing on Friday. MOL shares closed at HUF 23,180 on Friday.

No other changes were made to the contract.