Court Rejects FourWorld Claim Against Euronav

TL;DR

Court throws out FourWorld's lawsuit against Euronav regarding CMB's offer. Big win for Euronav.

AI Summary

Euronav NV announced on March 14, 2024, that the United States District Court for the Southern District of New York rejected a claim filed by FourWorld Capital Management LLC. This claim was related to CMB NV's U.S. offer to purchase Euronav shares.

Why It Matters

This court ruling dismisses a legal challenge that could have impacted Euronav's operations or its response to CMB NV's offer, potentially stabilizing the situation for shareholders.

Risk Assessment

Risk Level: low — The filing is a report of a court decision that is favorable to the company, with no new financial or operational risks introduced.

Key Players & Entities

• Euronav NV (company) — The company filing the report and the subject of the court ruling.
• FourWorld Capital Management LLC (company) — The entity that initiated the rejected claim.
• CMB NV (company) — The entity involved in the U.S. offer to purchase related to the claim.
• United States District Court for the Southern District of New York (company) — The court that rejected the claim.
• March 14, 2024 (date) — The date of the press release announcing the court's decision.

FAQ

Filing Documents

• d11003752_6-k.htm (6-K) — 17KB
• image00002.jpg (GRAPHIC) — 28KB
• 0000919574-24-002024.txt ( ) — 57KB

SIGNATURES

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: March 14, 2024 By: /s/ Ludovic Saverys Ludovic Saverys Chief Financial Officer EXHIBIT 99.1 PRESS RELEASE Thursday 14 March 2024 – 08:00 a.m. CET _______________________________________ FOURWORLD REQUEST DENIED – OFFERS WILL CLOSE AS SCHEDULED ANTWERP, Belgium, 14 March 2024 – Euronav NV ("EURN", "Euronav" or "the Company") (NYSE: EURN & Euronext: EURN) has been informed that the claim initiated by FourWorld Capital Management LLC has been rejected by the United States District Court for the Southern District of New York. More information can be found in the press release by CMB that can be consulted here . Contact: Communications Coordinator – Enya Derkinderen Tel: +32 476646359 Email: communications@euronav.com Head of Marketing & Communications – Katrien Hennin Tel: +32 499393470 Email: katrien.hennin@cmb.be Publication final year results – 4 april 2024 About Euronav NV & CMB.TECH Euronav and CMB.TECH together represent a group with around 150 ocean-going vessels 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 division within the group. More information can be found at www.euronav.com. About CMB CMB (Compagnie Maritime Belge) is a diversified shipping group based in Antwerp, Belgium. CMB is the majority shareholder of Euronav.

Forward-Looking Statements

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. 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 uncertainty as to the number of shares that will be tendered in the Bid and the impact on the continued listing of the shares on the New York Stock Exchange or Euronext Brussels, the fai

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View this 6-K filing on SEC EDGAR