Euronav Buys Back Own Shares
Ticker: CMBT · Form: 6-K · Filed: Apr 8, 2024 · CIK: 1604481
| Field | Detail |
|---|---|
| Company | Euronav NV (CMBT) |
| Form Type | 6-K |
| Filed Date | Apr 8, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 4 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: share-buyback, disclosure
TL;DR
Euronav bought back 412k shares on NYSE/Euronext.
AI Summary
Euronav NV announced on April 8, 2024, that it repurchased 412,926 of its own shares on the New York Stock Exchange and Euronext Brussels. This information was disclosed in a Form 6-K filing with the SEC.
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 disclosure of share repurchases and does not contain significant new financial or operational information.
Key Numbers
- 412,926 — Shares Repurchased (Indicates the volume of the company's share buyback program.)
Key Players & Entities
- Euronav NV (company) — The company making the share repurchase.
- April 8, 2024 (date) — Date of the announcement and share repurchase.
- 412,926 (dollar_amount) — Number of shares repurchased.
- New York Stock Exchange (company) — Exchange where shares were repurchased.
- Euronext Brussels (company) — Exchange where shares were repurchased.
FAQ
What is the total number of Euronav NV shares repurchased?
Euronav NV repurchased 412,926 of its own shares.
On which stock exchanges did Euronav NV repurchase shares?
Euronav NV repurchased shares on the New York Stock Exchange and Euronext Brussels.
What is the date of the announcement regarding the share repurchases?
The announcement was made on April 8, 2024.
What form was used to report this information to the SEC?
This information was reported on a Form 6-K.
Is this information incorporated by reference into any other SEC filings?
Yes, the information contained in Exhibit 99.1 of this Report on Form 6-K is incorporated by reference into the Company's registration statement on Form F-3 (File No. 333-272785).
Filing Stats: 1,112 words · 4 min read · ~4 pages · Grade level 11.8 · Accepted 2024-04-08 16:39:59
Filing Documents
- d11024234_6-k.htm (6-K) — 48KB
- image1.jpg (GRAPHIC) — 28KB
- 0000919574-24-002412.txt ( ) — 88KB
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: April 8, 2024 By: /s/ Ludovic Saverys Ludovic Saverys Chief Financial Officer EXHIBIT 99.1 PRESS RELEASE Regulated information Monday 8 April 2024 – 08:00 CET _______________________________________ SHARE BUYBACK ANTWERP, Belgium, 8 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 412,926 of its own shares. Following these transactions, the Company now owns 25,544,107 shares (11.61% 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 2 April 2024 144,761 EUR 15.4858 EUR 15.4100 EUR 15.5400 EUR 2,241,740 3 April 2024 52,756 EUR 15.4973 EUR 15.4650 EUR 15.5400 EUR 817,576 4 April 2024 7,016 EUR 15.5857 EUR 15.5800 EUR 15.6000 EUR 109,349 5 April 2024 26,012 EUR 15.6383 EUR 15.6000 EUR 15.7300 EUR 406,783 Total 230,545 EUR 15.5087 EUR 3,575,448 Shares repurchased on the NYSE Transaction date Quantity Average Price Min Price Max Price Total price 2 April 2024 2,612 USD 16.6877 USD 16.6500 USD 16.7000 USD 43,588 3 April 2024 51,409 USD 16.7253 USD 16.7000 USD 16.7800 USD 859,831 5 April 2024 128,360 USD 17.0071 USD 16.8000 USD 17.0500 USD 2,183,031 Total 182,381 USD 16.9231 USD 3,086,451 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
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. PRESS RELEASE Regulated information Monday 8 April 2024 – 08:00 CET _______________________________________ 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