PRESS RELEASE
Regulated information
9 July 2019 - 08.00 p.m. CET
SHARE BUYBACK
ANTWERP, Belgium, 9 July 2019 - Euronav NV (NYSE: EURN &Euronext: EURN) ("Euronav" or the "Company") today announces that the Company has purchased on NYSE and on Euronext Brussels a total of 420,648 of its own shares for an aggregate price of EUR 3,510,324.
Following these transactions, the Company now owns 4,946,216 shares (2.25% of the total outstanding share count).
The Company will monitor market conditions to decide to continue buying back shares, taking into account a variety of factors, including regulatory or legal requirements and other corporate considerations.
The Board and Management firmly believe this affirmative action creates long term value for all stakeholders given the significant disconnect between equity and net asset values at present and reflects the strength of Euronav's balance sheet and the confidence of Board and Management in the long term value in the Company's shares.
Shares repurchased on Euronext Brussels
Transaction date | Quantity | Average price | Lowest | Highest | Total price |
price | price | ||||
1 July 2019 | 91,500 | EUR 8.3463 | EUR 8.315 | EUR 8.390 | EUR 763,686.45 |
2 July 2019 | 105,000 | EUR 8.2942 | EUR 8.240 | EUR 8.420 | EUR 870,891.00 |
Block trade
Transaction date | Time | Quantity | Price | Total price |
1 July 2019 | 10.09 a.m. CET | 8,500 | EUR 8.380 | EUR 71,230.00 |
PRESS RELEASE
Regulated information
9 July 2019 - 08.00 p.m. CET
Shares repurchased on NYSE
Transaction | Quantity | Average price | Lowest | Highest | Total price |
date | price | price | |||
1 July 2019 | 107,824 | USD 9.4563 | USD 9.3900 | USD 9.5000 | USD 1,019,616.09 |
2 July 2019 | 107,824 | USD 9.3603 | USD 9.3000 | USD 9.4200 | USD 1,009,264.99 |
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Contact:
Brian Gallagher - Head of IR & ExCo member
Tel: +44 20 78 70 04 36
Email: IR@euronav.com
Announcement of Half Year 2019 results: Thursday, 8 August 2019
About Euronav
Euronav is an independent tanker company engaged in the ocean transportation and storage of crude oil. The Company is headquartered in Antwerp, Belgium, and has offices throughout Europe and Asia. Euronav is listed on Euronext Brussels and on the NYSE under the symbol EURN. Euronav employs its fleet both on the spot and period market. VLCCs on the spot market are traded in the Tankers International pool of which Euronav is one of the major partners. Euronav's owned and operated fleet consists of 2 ULCCs, 43 VLCCs, 26 Suezmaxes, 2 Panamaxes and 2 FSO vessels (both owned in 50%-50% joint venture).
PRESS RELEASE
Regulated information
9 July 2019 - 08.00 p.m. CET
Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor 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 harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor 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 and vessel values, changes in demand for tanker vessel capacity, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, the market for our vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with the United States Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.
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Euronav NV published this content on 09 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 July 2019 06:07:04 UTC