ANTWERP, Belgium ,18 September 2020 -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 1,160,000 of its own shares for an aggregate price ofEUR 9,377,610.69 (USD 11,196,867.16 ) as part of its capital allocation strategy and returns to shareholder policy. Following these transactions, the Company now owns 15,485,373 shares (7.04 % of the total outstanding share count). Further details on these transactions are as follows: Shares repurchased on Euronext Brussels Transaction date Quantity Average Price Lowest price Highest price Total price 9 September 202050,000 EUR 7.7069 EUR 7.62 EUR 7.765 EUR 385,345.00 10 September 202050,000 EUR 7.7461 EUR 7.675 EUR 7.775 EUR 387,305.00 11 September 2020200,000 EUR 8.0692 EUR 7.795 EUR 8.2325 EUR 1,613,840.00 14 September 2020150,000 EUR 8.2193 EUR 8.125 EUR 8.3125 EUR 1,232,895.00 15 September 202075,000 EUR 8.2434 EUR 8.125 EUR 8.305 EUR 618,255.00 16 September 202050,000 EUR 8.186 EUR 8.07 EUR 8.2225 EUR 409,300.00 17 September 202050,000 EUR 8.214 EUR 8.25 EUR 8.175 EUR 410,700.00 Shares repurchased on the NYSE Transaction date Quantity Average Price Lowest price Highest price Total price 9 September 202030,000 USD 9.2015 USD 9.18 USD 9.23 USD 276,045.00 10 September 202030,000 USD 9.248 USD 9.21 USD 9.29 USD 277,440.00 11 September 2020150,000 USD 9.6929 USD 9.61 USD 9.76 USD 1,453,935.00 14 September 2020150,000 USD 9.7434 USD 9.67 USD 9.79 USD 1,461,510.00 15 September 202075,000 USD 9.6172 USD 9.47 USD 9.72 USD 721,290.00 16 September 202050,000 USD 9.7001 USD 9.61 USD 9.77 USD 485,005.00 17 September 202050,000 USD 9.6564 USD 9.6 USD 9.68 USD 482,820.00Euronav takes this opportunity to highlight that the current buyback is part of its commitment to returnUSD 25 million to shareholders by the end of Q3 from earnings derived during fiscal Q2 as outlined in the Q2 results press release of6 August 2020 and forms part of aUSD 200 million return to shareholders from Q2 net income distributed viaUSD 100 million in cash dividends (USD 0 .47c per share, ex-dividend on18 August 2020 ) andUSD 100 million in share repurchases since June. 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 Supervisory Board and Management Board firmly believe this affirmative action creates long term value for all stakeholders given the disconnect between equity and net asset values at present and reflects the strength ofEuronav's balance sheet and the confidence of Board and Management in the long term value in the Company's shares.Clarksons Securities continues to act as an independent broker to coordinate and execute share repurchases on the exchanges of Euronext Brussels and/or the NYSE. * * * Contact:Clarksons Securities TEL: US: +1 212 889 3774 - EU: +47 46 94 01 95 Email: BuyBack@clarksons.comBrian Gallagher - Head of IR,Research and Communications & Management Board member Tel: +44 20 78 70 04 36 Email: IR@euronav.com Announcement of Q3 Results: Thursday5 November 2020 AboutEuronav Euronav is an independent tanker company engaged in the ocean transportation and storage of crude oil. The Company is headquartered inAntwerp, Belgium , and has offices throughoutEurope andAsia .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 theTankers International pool of whichEuronav is one of the major partners.Euronav's owned and operated fleet consists of 2 V-Plus vessels, 45 VLCCs (four to be delivered), 25 Suezmaxes (two of which are in a joint venture) and 2 FSO vessels (both owned in 50%-50% joint venture). Regulated information within the meaning of the Royal Decree of14 November 2007 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 theUnited States Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.
Click here for more information
© Oslo Bors ASA, source