Euronav – Conversion of Convertible Bonds

Stock Markets — By on February 6, 2014 at 6:16 PM

EURONAV funnelConversion of Convertible Bonds and contribution of Convertible Preferred Equity

ANTWERP, Belgium, 6 February 2014 – Euronav NV announces that on 6 January 2014 its share capital was increased following (i) the exercise of the conversion option of 453 convertible bonds issued in 2013 and maturing in 2018 which resulted in the issuance of 7,841,164 new ordinary shares and (ii) the contribution in kind of 30 perpetual convertible preferred equity instruments issued on 15 December 2013 which resulted in the issuance of 9,459,286 new ordinary shares. In total 17,300,450 new ordinary shares were issued today.

The impact on the Company’s capital of additional conversions of convertible instruments is set out in detail in the board report dated 31 January 2013, which is available from the investors’ section on our website www.euronav.com.
That results in the following overview:

Before                 Current
Total subscribed capital (USD)                     75,584,091.50  94,388,158.23
Total number of ordinary shares in issue 69,540,208         86,840,658
(with voting rights)*
Total number of outstanding convertible          250                      250
bonds maturing 2015
Total number of outstanding convertible          510                          57
bonds maturing 2018
Total number of outstanding perpetual                 60                         30
convertible preferred security

* of which 1,750,000 shares are treasury shares
Contact:
Mr. Hugo De Stoop – CFO
Tel: +32 3 247 44 11
Final year results 2013: Thursday, 27 March 2014
Annual report 2013 available on website: Monday, 31 March 2014

About Euronav
Euronav is one of the world’s leading independent tanker companies engaged in the ocean transportation and storage of crude oil and petroleum products. The company is headquartered in Antwerp, Belgium, and has offices throughout Europe and Asia. Euronav is listed on NYSE Euronext Brussels 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 fleet, consists of 35 double hulled vessels being 1 V-Plus, 2 FSO vessels (both owned in 50%-50% joint venture), 10 VLCCs of which 1 in joint venture (including the VLCC Luxembourg which is already sold but will be delivered between May 2014 and mid-June) and 22 Suezmaxes (of which 4 in joint venture). Deliveries of the Maersk VLCCs will take place shortly, increasing the Euronav tanker fleet by 15 VLCCs. Euronav vessels mainly fly Belgian, Greek and French flag. More detailed information can be found on the company’s website: www.euronav.com.
Regulated information within the meaning of the Royal Decree of 14 November 2007.

 

 

 

Facebook0Twitter0LinkedIn0Google+0Email
Tags: , ,

Leave a Reply

What is 4 + 4 ?
Please leave these two fields as-is:
IMPORTANT! To be able to proceed, you need to solve the following simple math (so we know that you are a human) :-)

Trackbacks

Leave a Trackback