The Board of Directors of Hungarian oil and gas group Mol has decided to amend the funding process of Mol Employee Share Ownership Program Organization (Mol ESOP Organization) in order to comply with the Act XLIV of 1992 on the Employee Share Ownership Program modified in November 2018.
The rate of remuneration of the managers will be unchanged however, Mol contributes significantly more shares to Mol ESOP Organization than the expected remunerations based on the Remuneration Policies, with a view to ensure the coverage of the subsequent share remunerations.
In accordance with this, Mol will expectedly transfer 6,211,663 MOL "A" Series Ordinary shares to Mol ESOP Organization until the end of 2019 first quarter. Mol will inform the market participants about the exact date and the amount of the share transfer, on the day of transfer.
