Annual Report 2014


Date of foundation of MOL Plc: 1 October 1991. Registered by the Metropolitan Court acting as Court of Registration on 10 June 1992 with effect as of 1 October 1991, under file number 01-10-041683.

Legal predecessor: Országos Kőolaj- és Gázipari Tröszt (OKGT National Oil and Gas Trust) and its subsidiaries.

The Articles of Association were modified and accepted the Annual General Meeting (AGM) held on 24 April 2014. Since then the Board of Directors have updated the data regarding the business premises and branch offices (Attachment No. 2 of the Articles of Association) on 19 February 2015. Access to the Articles of Association can be requested from the Company or the latest electronic version can be downloaded from Company’s web site.

Registered share capital as of 31 December 2014: 104,518,484 registered "A" series ordinary shares with a par value of HUF 1,000 each, 1 registered "B" series preferred share with a par value of HUF 1,000 with special preferential rights attached and 578 registered "C" series ordinary shares with a par value of HUF 1,001 each.

Please note that data above do not fully reflect the ownership structure recorded in the Share Register. It is based on the received request for registration of the shares and the published shareholder notifications. Registration is not mandatory. The shareholder may exercise its rights towards the company only if the shareholder is registered with the Share Register. According to the Articles of Association, no shareholder or shareholder group may exercise more than 10% of voting rights.

Share Information

MOL share prices are published by the majority of Hungarian daily newspapers and available on the BSE web site ( Indicative bid and ask prices of MOL’s DRs on IOB can be monitored using the RIC code MOLBq.L on Thomson Reuters or MOLD LI on Bloomberg. MOL shares and DRs are traded on the US OTC market Pink Sheet.
MOL share prices on the Budapest Stock Exchange can be followed on Thomson Reuters using the RIC code MOLB.BU or on Bloomberg using code MOL HB.

The following table shows trading data on MOL shares for each quarter of 2014:

Treasury shares

During 2014, the following treasury share transactions took place:

Changes in organisation and senior management

The Annual General Meeting on 24 April 2014 made the following resolutions:

  • re-elected Dr. Sándor Csányi as member of the Board of Directors of MOL Plc. from 30 April 2014 to 29 April 2019.
  • elected Dr. Anwar al-Kharusi and Dr. Anthony Radev as members of the Board of Directors of MOL Plc from 30 April 2014 to 29 April 2019.
  • elected Dr. János Martonyi as member of the Board of Directors of MOL Plc from 1 July 2014 to 29 April 2019.

Dr. Gábor Horváth, Dr. Miklós Dobák and Mr. Iain Paterson mandate expired, while Mr. Mulham Al-Jarf resigned from his position as a member of the Board of Directors.

MOL securities held by Directors and Officers of the company as of 31 December 2014:

* Perpetual exchangeable capital security, issued by Magnolia Finance Ltd, exchangeable into “A” Series MOL Ordinary Shares with nominal value of EUR 100,000.
** Mr. József Simola owns two pieces of MOL GRO UP FIN ANCE USD bonds expiring on 26 September 2019 with nominal value of USD 200,000.