MOL Hungarian Oil and Gas Public Limited Company (“MOL”) hereby informs the capital market’s participants that the option rights regarding 4,080,496 pieces of MOL Series “A” Ordinary shares (“Shares”) under the share option agreements, concluded between UniCredit Bank AG (“UniCredit”) and MOL on 7 February 2013, and extended for one year as of the effective date of 10 February 2014, are expected to be cash settled in respect of all the Shares on 13 February 2015.
Today, MOL Investment Ltd. - a fully owned subsidiary of MOL - (“MIL”), UniCredit and MOL concluded a share purchase agreement (“SPA”), pursuant to which MIL sells up to 1,300,000 pieces of additional Shares (“Additional Shares”) to UniCredit and UniCredit purchases such number of Additional Shares from MIL, with the expected settlement date of 13 February 2015.
Simultaneously MOL and UniCredit concluded share option agreements regarding up to 4,080,496 Shares as well as regarding any Additional Shares with the effective date of 13 February 2015. As a result of the new share option agreements, MOL will acquire American call options and UniCredit will acquire European put options on 13 February 2015. The maturity of both the call and the put options is 1 year, such maturity being subject to yearly extensions, up to a total tenor of 3 years.
The final number of the Additional Shares and corresponding call and put options, as well as the strike price of both the call and put options, will be defined based on data available as of 10 February 2015 and the capital market’s participants will be informed of those figures and prices.
As a result of the transactions the number of treasury shares is expected to change. Currently MOL directly and indirectly owns 2,842,147 “A” Series and 578 “C” Series MOL Ordinary shares.