Euronav Buys Back Own Shares

TL;DR

Euronav bought back 263k+ shares on NYSE & Euronext.

AI Summary

Euronav NV announced on April 15, 2024, that it repurchased 263,771 of its own shares on the New York Stock Exchange and Euronext Brussels. This action is incorporated into their registration statement on Form F-3, filed effective June 20, 2023.

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 is a routine disclosure of share repurchases, not indicating significant new risks.

Key Numbers

• 263,771 — Shares Repurchased (This indicates Euronav's action to reduce its outstanding share count.)

Key Players & Entities

• Euronav NV (company) — The company making the announcement and repurchasing shares.
• April 15, 2024 (date) — The date of the press release announcing the share repurchase.
• New York Stock Exchange (company) — One of the exchanges where shares were repurchased.
• Euronext Brussels (company) — The other exchange where shares were repurchased.
• 263,771 (dollar_amount) — The number of shares repurchased by Euronav.
• Form F-3 (document) — The registration statement into which the share repurchase information is incorporated.

FAQ

Filing Documents

• d11030020_6-k.htm (6-K) — 39KB
• image1.jpg (GRAPHIC) — 28KB
• 0000919574-24-002556.txt ( ) — 79KB

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 15, 2024 By: /s/ Ludovic Saverys Ludovic Saverys Chief Financial Officer EXHIBIT 99.1 PRESS RELEASE Regulated information Monday 15 April 2024 – 08:00 CET _______________________________________ SHARE BUYBACK ANTWERP, Belgium, 15 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 263,771 of its own shares. Following these transactions, the Company now owns 25,807,878 shares (11.73% 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 9 April 2024 7,438 EUR 15.4595 EUR 15.3750 EUR 15.5100 EUR 114,988 Total 7,438 EUR 15.4595 EUR 114,988 Shares repurchased on the NYSE Transaction date Quantity Average Price Min Price Max Price Total price 9 April 2024 256,333 16.6655 16.4050 16.9650 USD 4,271,918 Total 256,333 16.6655 USD 4,271,918 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 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 equity value and net asset value at present an

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. PRESS RELEASE Regulated information Monday 15 April 2024 – 08:00 CET _______________________________________ 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, th

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View this 6-K filing on SEC EDGAR