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Petercam NV, acting as Settlement Agent, and one core shareholder entered into a share swap agreement in order to deliver listed shares to all investors who receive allocated shares in the private placement. As part of this share swap agreement the core shareholder will deliver up to 10,000,000 existing and listed shares to the Settlement Agent. The core shareholder will receive in exchange the same number of newly issued non-listed shares. The listing on Euronext Brussels of all other newly issued shares (not subject to the aforementioned share swap agreement) will be requested immediately after their issue. The shares that the core shareholder will receive as a result of the share swap will be listed upon approval of a listing prospectus by the FSMA on a later date. The funds raised will be used by EURONAV to partially finance its purchase of 4 VLCC vessels as announced on 8 July 2014. Settlement will take place on 14 July 2014. Petercam NV is acting as Global Coordinator and Settlement Agent and together with Deutsche Bank AG, London Branch, and DNB ASA as Joint Book Runners for the placing of the new shares. The Book Runners were advised by Linklaters LLP and Argo Law advised Euronav on the Belgian legal aspects of the offering. The company is still of the view that a more balanced tonnage list coupled with increased ton-miles should help to further improve the state of the tanker market for the rest of 2014 and 2015. In this regard the company does not intend to place speculative newbuilding orders, but continues to see value in the second-hand market. About Euronav Euronav is one of the world's leading independent tanker companies 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 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 and operated fleet consists of 49 double hulled vessels being 1 V-Plus, 2 FSO vessels (both owned in 50%-50% joint venture), 23 VLCCs of which 1 in joint venture and 23 Suezmaxes (of which 4 in joint venture). Deliveries of the remaining Maersk Tanker VLCCs will increase the Company’s tanker fleet by another 4 VLCCs. The Company’s vessels mainly fly Belgian, Greek, French and Marshall Island flags. 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. Euronav NV press release |
Euronav successfully raises 125 million USD