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Mol confirms sale of treasury shares

Hungarian oil and gas Mol Rt announced that on March 13 it has signed a share purchase agreement to sell 6,007,479 series A ordinary shares currently held in treasury to Magnolia Finance Limited, incorporated in Jersey, at a price of Ft 20,515 per share. The broker for the stock exchange transactions is ING Bank (Hungary) Rt.

 

Pursuant to Section 67 of the Hungarian Capital Markets Act of 2001, Magnolia has announced that upon successful and unconditional closing of the transactions it will acquire 5.58 % of influence in Mol.

 

Magnolia earlier announced the sale of up to € 610 million of perpetual exchangeable capital securities, exchangeable into the series A ordinary shares of Mol between March 20, 2011 and March 12, 2016, to international financial investors.