Euronav Ord Share Price (0K9A)

Got them back for $20 Fx 1.2668.

24 to 20 = 16.5% over 48 days.

Today $14.26

March 19 (Reuters) - Tanker company Euronav (EUAV.BR), opens new tab will exit Belgium's blue-chip Bel-20 index after just two days of trading, as it no longer meets the membership conditions after its takeover by Compagnie Maritime Belge (CMB), bourse operator Euronext said on Tuesday.

CMB, owned by the Saverys family, and affiliates together hold 88.61% of the outstanding shares in Euronav, which exceeds the maximum allowed for the index.

"The Bel 20 rulebook prescribes that should the acquiring party own more than 85% of the shares, the company being acquired will exit the index," Euronext said.

Belgium's Euronav announced in October that its two major shareholders, CMB and Frontline (FRO.OL), opens new tab, had reached a deal that would see the Saverys family take control of the oil tanker company and buy its remaining shares.

That deal between CMB and peer Frontline came after the latter - controlled by Norwegian-born shipping tycoon John Fredriksen - in January 2023 scrapped a $4.2 billion merger plan with Euronav that would have created the world's largest publicly-listed tanker company.

Interesting tec chart site .

https://stockinvest.us/stock/EURN

Email from D offer only open to USA based holders.

Might then delist .

Forced to sell , be lucky to get a little more then tenner offer price .

Thank God I sold half the buy back for $19.69

15/2/2024

CMB has launched its mandatory takeover bid for Euronav, a test of shareholder appetite for its vision of a sustainability-focussed future for the company.

CMB’s bid for the outstanding shares in Euronav is the result of a deal made late last year to break a stalemate between Euronav and Frontline over the future of the tanker owner. Under the arrangement, CMB acquired a 26.12% stake in Euronav, bringing its total stake to 49%, 58% when its related parties are accounted for.

A takeover bid is mandatory when a shareholder takes its stake over 30%, and the CMB offer of $17.86 per share for the remaining 42% of the company will give an off-ramp for shareholders who lack confidence in the plan to transform Euronav into a diversified shipowner at the forefront of the decarbonisation of the industry.

Euronav shareholders agreed earlier this month to purchase CMB’s green ships and green technology arm CMB.TECH for $1.15bn. The company is set to be renamed CMB.TECH on closing of the takeover bid on March 15.

CMB’s has placed CMB.TECH and its 106 vessels within Euronav to foster ties within the companies and accelerate progress in the development and application of green solutions in the maritime industry.

“The intention of [CMB] is for Euronav to become the main entity within the CMB Group for low carbon marine and industrial applications and will focus on growing the future-proof fleet of the CMB Group,” the buyout prospectus said.

“By divesting less efficient/older tankers and re-investing the proceeds in newbuildings/modern second hand vessels or technical upgrades (e.g. energy saving devices), [CMB] wants to optimize Euronav’s large remaining fleet of tankers to continue offering the best fleet to its customers

Euronav will have priority on charters of over three months where Euronav and CMB vessels compete.

CMB said the benefits it saw from the takeover were a combination of its long term strategy and the financial strength and operational excellence of Euronav. For Euronav shareholders, the benefit is the bid price, said CMB, set at the level of $18.43 CMB paid for its stake in November, minus a $0.57 dividend per share.

Euronav’s fleet stands at 155 vessels, including those acquired with CMB.TECH. 104 ships are on the water and 51 are newbuild orders. The on the water fleet comprises two FSOs, 17 VLCCs, 22 suezmaxes, three newcastlemaxes, two container vessels, two chemical tankers, 53 CTV vessels, two passenger ferries and one tugboat.

Four VLCCs and four suezmaxes are under construction, as well as 23 newcastlemax and two coaster bulkers, six chemical tankers, four CTV vessels and five CSOV vessels

Sliced today for $14.. fx 1.265... 1.4% better rate then last sell. Share price 3.75% better then 27/12/23.

27/12/23 slice $13.5.. fx was 1.2828 .

In hindsight thank God I bought it back on the 8 % drop 2nd January 2024.

Good its 150% deal sizes.

They have my bep at 11.7891 higher then the 11.6895 on 27th December noted.