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    SEC Form 6-K filed by Euronav NV

    4/15/24 4:27:31 PM ET
    $EURN
    Marine Transportation
    Consumer Discretionary
    Get the next $EURN alert in real time by email
    6-K 1 d11030020_6-k.htm
    UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION
    Washington, D.C.  20549

    FORM 6-K

    REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934

    For the month of April 2024

    Commission File Number: 001-36810

    EURONAV NV

    De Gerlachekaai 20
    2000 Antwerpen
    Belgium

    011-32-3-247-4411
    (Address of principal executive offices)

    Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

    Form 20-F [X]       Form 40-F [  ]





    INFORMATION CONTAINED IN THIS FORM 6-K REPORT
    Attached hereto as Exhibit 99.1 is a copy of the press release of Euronav NV (the “Company”), dated April 15, 2024, announcing that the Company has purchased 263,771 of its own shares on the New York Stock Exchange and Euronext Brussels.
    The information contained in Exhibit 99.1 of this Report on Form 6-K is hereby incorporated by reference into the Company’s registration statement on Form F-3 (File No. 333-272785) that was filed with the U.S. Securities and Exchange Commission effective June 20, 2023.


    SIGNATURES
    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

     
    EURONAV NV
     
     
    (Registrant)
     
         
    Dated: April 15, 2024
       
         
     
    By:
    /s/ Ludovic Saverys
     
       
    Ludovic Saverys
     
       
    Chief Financial Officer
     



    EXHIBIT 99.1

    PRESS RELEASE
     
    Regulated information
    Monday 15 April 2024 – 08:00 CET
    _______________________________________

    SHARE BUYBACK

    ANTWERP, Belgium, 15 April 2024 – Euronav NV (NYSE: EURN & Euronext: EURN) (“Euronav” or the “Company”) announces that the Company has purchased on the NYSE and on Euronext Brussels a total of 263,771 of its own shares.

    Following these transactions, the Company now owns 25,807,878 shares (11.73% of the total outstanding share count).

    Further details on these transactions are as follows:


    Shares repurchased on Euronext Brussels

    Transaction date
    Quantity
    Average Price
    Min Price
    Max Price
    Total price
    9 April 2024
    7,438
    EUR 15.4595
    EUR 15.3750
    EUR 15.5100
    EUR 114,988
    Total
    7,438
    EUR 15.4595
     
     
    EUR 114,988

    Shares repurchased on the NYSE

    Transaction date
    Quantity
    Average Price
    Min Price
    Max Price
    Total price
    9 April 2024
    256,333
    16.6655
    16.4050
    16.9650
    USD 4,271,918
    Total
    256,333
    16.6655
     
     
    USD 4,271,918


    The Supervisory Board has authorised the Management Board to repurchase up to 10 million shares at a maximum purchase price per share of USD 17.86* with a term from 21 March 2024 to 28 June 2024. The company will therefore retain the option to repurchase shares going forward and will monitor market conditions before deciding whether to proceed with share repurchases, taking into account various factors, including regulatory or legal requirements and other corporate considerations.

    The Supervisory Board and Management Board believe that this affirmative action creates long-term value for all stakeholders given the significant disconnect between equity value and net asset value at present and reflects the strength of Euronav’s balance sheet and the confidence of Supervisory Board and Management Board in the long-term value in the Company’s shares.

    *It should be noted that any dividend or other distribution paid should be deducted from this amount as of the ex-dividend date.


    PRESS RELEASE
      
    Regulated information
    Monday 15 April 2024 – 08:00 CET
    _______________________________________


    *
    *  *

    Contact:
    Head of Marketing & Communications – Katrien Hennin
    Tel:  +32 499393470
    Email: [email protected]

    Announcement first quarter 2024 results – 8 May 2024
    About Euronav NV & CMB.TECH
    Euronav and CMB.TECH together represent a group with around 150 ocean-going vessels (including newbuildings) in dry bulk, container shipping, chemical tankers, offshore wind and oil tankers. The group focuses on large marine and industrial applications on hydrogen or ammonia. They also offer hydrogen and ammonia fuel to customers, through own production or third-party producers. The company is headquartered in Antwerp, Belgium, and has offices across Europe and Asia.

    Euronav is listed on Euronext Brussels and on the NYSE under the symbol EURN.

    Euronav plans to change the group's name to CMB.TECH. Euronav will remain the oil tanker shipping company within the group.

    Forward-Looking Statements

    Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbour protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbour provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbour legislation. The words "believe", "anticipate", "intends", "estimate", "forecast", "project", "plan", "potential", "may", "should", "expect", "pending" and similar expressions identify forward-looking statements.

    The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.


    PRESS RELEASE
      
    Regulated information
    Monday 15 April 2024 – 08:00 CET
    _______________________________________


    In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the failure of counterparties to fully perform their contracts with us, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, the market for our vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with the United States Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.




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