Euronav NV Buys Back 4.7M Shares

TL;DR

Euronav bought back 4.7M shares on NYSE & Euronext.

AI Summary

Euronav NV announced on March 22, 2024, that it repurchased 4,719,534 of its own shares. These share purchases were executed on both the New York Stock Exchange and Euronext Brussels.

Why It Matters

Share buybacks can signal management's confidence in the company's valuation and potentially increase earnings per share.

Risk Assessment

Risk Level: low — This filing is a routine report of share repurchases and does not contain significant new financial or operational information.

Key Numbers

• 4,719,534 — Shares Repurchased (This represents the total number of Euronav NV shares bought back on the NYSE and Euronext Brussels.)

Key Players & Entities

• Euronav NV (company) — The company making the announcement and executing the share repurchase.
• 4,719,534 (dollar_amount) — The number of shares repurchased by Euronav NV.
• March 22, 2024 (date) — The date of the press release announcing the share repurchase.
• New York Stock Exchange (company) — One of the exchanges where Euronav NV repurchased its shares.
• Euronext Brussels (company) — The other exchange where Euronav NV repurchased its shares.

FAQ

Filing Documents

• d11010871_6k.htm (6-K) — 31KB
• image00001.jpg (GRAPHIC) — 28KB
• 0000919574-24-002157.txt ( ) — 71KB

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 22, 2024 By: /s/ Ludovic Saverys Ludovic Saverys Chief Financial Officer EXHIBIT 99.1 PRESS RELEASE Regulated information Friday 22 March 2024 – 21:15 CET _______________________________________ SHARE BUYBACK ANTWERP, Belgium, 22 March 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 4.719.534 of its own shares. Following these transactions, the Company now owns 22.510.249 shares (10.23% of the total outstanding share count). Further details on these transactions are as follows: Shares repurchased on Euronext Brussels Transaction date Quantity Average Price Total price 21 March 2024 3,015,000 EUR 13.9995 EUR 42,208,492.50 22 March 2024 328,781 EUR 15,0095 EUR 4,934,838 Total 3,343,781 EUR 14,0627 EUR 47,022,731 Shares repurchased on the NYSE Transaction date Quantity Average Price Total price 21 March 2024 1,295,753 USD 15.846 USD 20,532,502.04 22 March 2024 80,000 USD 16.1926 USD 1,295,408 Total 1,375,753 USD 15.866 USD 21,827,910 The Supervisory Board has authorised the Management Board to repurchase up to 10 million shares at a maximum purchase price per share of 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

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 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

View Full Filing

View this 6-K filing on SEC EDGAR