Hungary's MOL plans to cancel treasury shares

BUDAPEST, March 21 (Reuters) - Hungarian oil and gas group MOLMOLB.BU said on Friday that it was planning to decrease its share capital by withdrawing 5,483,775 of the treasury shares held by the company at its April shareholder meeting.

MOL said in an invitation for its April 23 annual shareholder meeting that the aim of the move was to boost shareholder returns.

MOL said its share capital would decrease to 104.19 billion forints ($626.3 million) thereafter. (Reporting by Krisztina Than, editing by Will Waterman)