33. Other financial obligations and contingent liabilities
Options to purchase granted
There were bilateral option agreements in place between UNIQA and the two remaining non-controlling shareholders in UNIQA Insurance Company, Private Joint Stock Company (Kiev, Ukraine) to acquire (call option for UNIQA) or to sell (put option for the non-controlling shareholders) the non-controlling shares based on pre-agreed purchase price formulas by 30 June 2020 at the latest. UNIQA exercised the call option in June 2020 and as a result it will owe 100 per cent of the shares in both UNIQA companies in Ukraine following a successful share transfer (expected in the first quarter of 2021).
There is also the possibility to acquire the company shares held by the minority shareholders through exercising a mutual option between UNIQA and the minority shareholders in the SIGAL Group based on previously agreed purchase price formulas. A new option period was agreed by extending the previous shareholders’ agreement, with the exercise period agreed to be from 1 July 2023 to 30 June 2024.