Euronav NV Faces Legal Claim Over CMB NV Offer

TL;DR

FourWorld Capital suing over CMB NV's Euronav offer, court case filed in Belgium.

AI Summary

Euronav NV announced on April 8, 2024, that funds managed by FourWorld Capital Management LLC have filed a claim with the Enterprise Court in Antwerp, Belgium. This claim is related to CMB NV's U.S. offer to purchase shares of Euronav.

Why It Matters

This legal action could impact the ongoing offer by CMB NV and potentially affect the share price and future strategic decisions for Euronav.

Risk Assessment

Risk Level: medium — The filing of a legal claim introduces uncertainty and potential disruption to corporate actions, which could affect investor confidence and the company's operations.

Key Players & Entities

• Euronav NV (company) — The company filing the report and subject of the legal claim.
• FourWorld Capital Management LLC (company) — The entity managing funds that filed the legal claim.
• CMB NV (company) — The entity making an offer to purchase shares of Euronav.
• Enterprise Court in Antwerp, Belgium (company) — The judicial body where the claim was filed.
• April 8, 2024 (date) — The date of the press release announcing the claim.

FAQ

Filing Documents

• s11025052.htm (6-K) — 18KB
• image00002.jpg (GRAPHIC) — 28KB
• 0000919574-24-002416.txt ( ) — 58KB

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 8 April 2024 – 11:00 p.m. CET _____________________________________ FOURWORLD FILES ANOTHER REQUEST ANTWERP, Belgium, 8 April 2024 – Euronav NV (NYSE: EURN & Euronext: EURN) ("Euronav" or the "Company") has been informed that certain funds managed by FourWorld Capital Management, LLC (" FourWorld ") have now also filed a claim with the Enterprise Court in Antwerp, Belgium. The claim relates to the integrated solution for the strategic and structural deadlock within Euronav announced on 9 October 2023, of which CMB NV's mandatory offer on all outstanding shares in the Company that closed on 15 March 2024 formed the final piece, as well as Euronav's acquisition of CMB.TECH NV. FourWorld requests that all decisions of Euronav's supervisory board and general meeting in relation to these transactions, as well as the transactions themselves, are declared null and void. In this regard FourWorld has summoned all parties involved in these transactions, i.e. Euronav, CMB NV, Frontline plc, Famatown Finance Limited, Hemen Holding Limited and Geveran Trading Co. Limited. Euronav finds the claim to be without merit and intends to vigorously defend against it. This latest request follows earlier complaints and requests filed by FourWorld in the United States District Court for the Southern District of New York and with the Market Court in Belgium against CMB NV. In March, the courts in Belgium and in the U.S. denied all FourWorld's requests to suspend the closing of CMB NV's mandatory offer. * * * Contact : Head of Marketing & Communications – Katrien Hennin Tel: +32 499393470 Email: communications@euronav.com Publication annua

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