Euronav NV Buys Back 2.6M Shares

TL;DR

Euronav just bought back 2.6M of its own shares, signaling confidence.

AI Summary

Euronav NV announced on March 29, 2024, that it repurchased 2,620,931 of its own shares on both the New York Stock Exchange and Euronext Brussels. This share buyback is incorporated by reference into the company's Form F-3 registration statement.

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

• 2,620,931 — Shares Repurchased (Euronav NV bought back this many of its own shares on March 29, 2024.)

Key Players & Entities

• Euronav NV (company) — Registrant
• 2,620,931 (dollar_amount) — Number of shares repurchased
• March 29, 2024 (date) — Date of press release and share repurchase announcement
• New York Stock Exchange (company) — Exchange where shares were purchased
• Euronext Brussels (company) — Exchange where shares were purchased
• Form F-3 (File No. 333-272785) (document) — Registration statement incorporating the announcement

FAQ

Filing Documents

• d11017873_6-k.htm (6-K) — 41KB
• image00002.jpg (GRAPHIC) — 28KB
• 0000919574-24-002289.txt ( ) — 80KB

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 29, 2024 By: /s/ Ludovic Saverys Ludovic Saverys Chief Financial Officer EXHIBIT 99.1 PRESS RELEASE Regulated information Friday 29 March 2024 – 21:15 CET _______________________________________ SHARE BUYBACK ANTWERP, Belgium, 29 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 2,620,931 of its own shares. Following these transactions, the Company now owns 25,131,181 shares (11.42% 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 25 March 2024 259,016 EUR 14.9834 EUR 14.81 EUR 15.00 EUR 3,880,940 26 March 2024 291,026 EUR 15.1762 EUR 15.00 EUR 15.18 EUR 4,416,669 27 March 2024 1,050,882 EUR 15.0857 EUR 15.05 EUR 15.12 EUR 15,853,291 28 March 2024 820,771 EUR 15.2587 EUR 15.13 EUR 15.36 EUR 12,523,898 Total 2,421,695 EUR 36,674,798 Shares repurchased on the NYSE Transaction date Quantity Average Price Min Price Max Price Total price 25 March 2024 107,774 USD 16.2292 USD 16.065 USD 16.33 USD 1,749,086 26 March 2024 30,610 USD 16.3129 USD 16.24 USD 16.37 USD 499,338 27 March 2024 25,582 USD 16.3667 USD 16.315 USD 16.40 USD 418,693 28 March 2024 35,270 USD 16.5599 USD 16.48 USD 16.60 USD 584,068 Total 199,236 USD 3,251,185 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

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