Capital increase for Maersk Fleet acquisition approvedNews, Oil Industry, Stock Markets, Tankers — By admin on February 24, 2014 at 6:40 PM
ANTWERP, Belgium, 24 February 2014 – With reference to the press release of 5 January
2014 in which Euronav announced the acquisition of fifteen (15) Very Large Crude Carriers
(VLCC) from Maersk Tankers Singapore Pte Ltd. for a total acquisition price of USD 980
million, the company today announces that the meeting of shareholders has approved a
USD 300, 000, 000 capital increase against issuance of 32, 841, 528 new shares.
That results in the following overview:
Total subscribed capital (USD) $94, 388, 158.23 $130, 084, 009.11
Total number of ordinary shares in issue 86, 840, 658 119, 682, 186
(with voting rights)*
Total number of outstanding convertible 250 250
bonds maturing 2015
Total number of outstanding convertible 57 57
bonds maturing 2018
Total number of outstanding perpetual 30 30
convertible preferred security
* of which 1, 750, 000 shares are treasury shares
All other points on the agenda of the shareholders’ meeting were also approved.
Following the USD 50 million capital increase that took place on 13 January 2014 as well as
the issue of a USD 235 million 7-year bond and the signing of a commitment letter for a
USD 500 million senior secured credit facility earlier this month, this approval is the last
step required for the full financing of the acquisition of the Maersk Tankers fleet.
The company further reports that on 20 February 2014 it has successfully taken delivery of
the first vessel from Maersk: the Nautilus.
Final year results 2013: Thursday, 27 March 2014
Annual report 2013 available on website: Monday, 31 March 2014
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), 11 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 rest of the Maersk VLCC fleet will increase the Euronav tanker fleet by another 14 VLCCs. Euronav vessels mainly fly Belgian, Greek and French flag. More detailed information can be found on the company’s website: www.euronav.com