MOL and ING to settle share option agreement in cash, enter new one
Hungarian oil and gas company and Netherlands-based financial services company ING will cash-settle a share option agreement regarding 5,220,000 MOL A-Series Ordinary Shares concluded between them on November 22, 2013 at a strike price of €47.4444 per share, MOL announced yesterday.
MOL said that the two companies had signed another one-year share-option agreement on November 24, according to which MOL will have an American call option and ING a European put option regarding an identical number of MOL A-Series ordinary shares at a strike price of $50.92842 per share. The strike price stands both for the call and the put option. MOL's stock of Treasury Shares has not changed as a result of the transaction. MOL said it directly and indirectly owns 2,842,147 "A" series and 578 "C" series MOL ordinary shares.
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