BUDAPEST (Dow Jones)--Hungarian oil and gas company MOL Magyar Olaj- es Gazipari Nyrt. (MOL.BU) said Thursday that it will appeal in court against the Hungarian capital market, or PSZAF's fine for insider trading.
MOL received the PSZAF's resolution, according to which the authority ordered MOL to pay a total of 48 million forints ($279,770) as fines for the breach of certain rules; HUF5 million for the breach of rules pertaining to the publication of insider information, and a HUF43 million fine for the breach of rules pertaining to the prohibition of insider trading.
MOL disagrees with the resolution, in MOL's opinion the company complied with the laws, so MOL shell initiate court revision of the resolution.