ANTWERP, Belgium, August 5, 2015 /PRNewswire/ --
In accordance with the Law of 2 May 2007 relating to the disclosure of important shareholdings in listed companies, Euronav NV (NYSE: EURN & Euronext: EURN) ("Euronav" or the "Company") announces that it received a notification from Mr. Peter G. Livanos, Chairman of the Board of Euronav, and related entities, disclosing a crossing below the 10% threshold.
On the date of this notification, Mr. Peter G. Livanos and related entities hold 12,922,684 voting rights, for a total percentage of 8.12%.
Euronav was informed that this downward crossing is a result of Ceres Investments (Cyprus) Limited ("CIC"), an investment company controlled by Mr. Peter G. Livanos, having entered into pre-paid forward transactions for 6,000,000 of the approximately 19,000,000 Euronav ordinary shares that were beneficially owned by Mr. Peter G. Livanos prior to entering into this forward transaction.
CIC advised: "The pre-paid forward sale transaction is effectively a form of financing secured by a portion of the shares owned. It will allow CIC to finance other activities while retaining significant upside exposure to the Euronav share price."
The notifications received in relation to the transparency legislation are available on the Company's website in the investor relations section http://investors.euronav.com/share/transparency-declaration.aspx?sc_lang=en. A full overview of the current shareholders' structure can also be found on the website http://investors.euronav.com/share/shareholders.aspx?sc_lang=en.
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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 53 double hulled vessels being 1 V-Plus, 2 FSO vessels (both owned in 50%-50% joint venture), 27 VLCCs (of which 1 in 50%-50% joint venture) and 23 Suezmaxes (of which 4 in 50%-50% joint venture). Deliveries of the recently acquired VLCCs will increase the Euronav tanker fleet by another 4 VLCCs. The company's vessels mainly fly Belgian, Greek, French and Marshall Island flags.
Regulated information within the meaning of the Royal Decree of 14 November 2007.
SOURCE Euronav NV