0000919574-20-005555.txt : 20200828 0000919574-20-005555.hdr.sgml : 20200828 20200828090939 ACCESSION NUMBER: 0000919574-20-005555 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20200831 FILED AS OF DATE: 20200828 DATE AS OF CHANGE: 20200828 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Euronav NV CENTRAL INDEX KEY: 0001604481 STANDARD INDUSTRIAL CLASSIFICATION: DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412] IRS NUMBER: 000000000 STATE OF INCORPORATION: C9 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36810 FILM NUMBER: 201145094 BUSINESS ADDRESS: STREET 1: DE GERLACHEKAAI 20 CITY: ANTWERP STATE: C9 ZIP: 2000 BUSINESS PHONE: 32-3-247-44-11 MAIL ADDRESS: STREET 1: DE GERLACHEKAAI 20 CITY: ANTWERP STATE: C9 ZIP: 2000 6-K 1 d8597930_6-k.htm
 UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2020

Commission File Number: 001-36810

EURONAV NV


De Gerlachekaai 20
2000 Antwerpen
Belgium

011-32-3-247-4411
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F [X]       Form 40-F [  ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [  ].

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [  ].

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.


INFORMATION CONTAINED IN THIS FORM 6-K REPORT


Attached hereto as Exhibit 99.1 is a copy of the press release of Euronav NV (the "Company"), dated August 4, 2020, announcing that the Company has purchased on the NYSE and on Euronext Brussels a total of 2,274,484 of its own shares for an aggregate price of USD 21,529,016.52.

The information contained in this Report on Form 6-K is hereby incorporated by reference into the Company's registration statement on Form F-3 (File No. 333-238472) that was filed with the U.S. Securities and Exchange Commission effective May 18, 2020.

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: August 28, 2020
   
     
 
By:
/s/ Lieve Logghe
 
   
Lieve Logghe
 
   
Chief Financial Officer
 



EXHIBIT 99.1


PRESS RELEASE
 
Regulated information
4 August 2020 – 8.00 a.m. CET
_______________________________________


SHARE BUYBACK


ANTWERP, Belgium, 4 August 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 2,274,484 of its own shares for an aggregate price of EUR 19,094,662.33 (USD 21,529,016.52) as part of its capital allocation strategy and returns to shareholder policy.

Following these transactions, the Company now owns 13,408,200 shares (6.09% of the total outstanding share count).

Further detail on these transactions are as follows:

Shares repurchased on Euronext Brussels

Transaction date
Quantity
Average Price
Lowest price
Highest  price
Total price
24 July 2020
230,000
EUR 8.1417
EUR 8.035
EUR 8.21
EUR 1,872,591.00
27 July 2020
150,000
EUR 8.0508
EUR 8.01
EUR 8.13
EUR 1,207,620.00
28 July 2020
200,000
EUR 8.2130
EUR 8.15
EUR 8.315
EUR 1,642,600.00
29 July 2020
60,500
EUR 8.3891
EUR 8.26
EUR 8.49
EUR 507,540.55
30 July 2020
225,000
EUR 8.2793
EUR 8.195
EUR 8.44
EUR 1,862,842.50
31 July 2020
125,000
EUR 8.2432
EUR 8.19
EUR 8.30
EUR 1,030,400.00
3 August 2020
245,675
EUR 8.3178
EUR 8.21
EUR 8.37
EUR 2,043,475.52

Block trades on Euronext Brussels

Transaction date
Time
Quantity
Price
Total Price
29 July 2020
13:37 CET
12,000
EUR  8.475
EUR 101,700.00



PRESS RELEASE
 
Regulated information
4 August 2020 – 8.00 a.m. CET
_______________________________________


Shares repurchased on the NYSE

Transaction date
Quantity
Average Price
Lowest
price
Highest
price
Total price
27 July 2020
100,000
USD 9.4940
USD 9.45
USD 9.53
USD 949,400.00
28 July 2020
200,000
USD 9.6694
USD 9.58
USD 9.73
USD 1,933,880.00
29 July 2020
135,000
USD 9.8714
USD 9.77
USD 9.94
USD 1,332,639.00
30 July 2020
175,000
USD 9.7243
USD 9.68
USD 9.78
USD 1,701,752.50
31 July 2020
125,000
USD 9.7227
USD 9.61
USD 9.78
USD 1,215,337.50
3 August 2020
66,309
USD 9.7081
USD 9.68
USD 9.75
USD 643,734.40

Block trades on the NYSE

Transaction date
Time
Quantity
Price
Total Price
24 July 2020
10:37 EDT
225,000
USD 9.5
USD 2,137,500.00

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 of Euronav’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.com

Brian Gallagher – Head of IR, Research and Communications & Management Board member

Tel: +44 20 78 70 04 36
Email: IR@euronav.com

Announcement of Q2 Results 2020: 6th August 2020
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 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 of 14 November 2007


PRESS RELEASE
 
Regulated information
4 August 2020 – 8.00 a.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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