Euronav increases its share capital
Euronav NV announces that on 10 March 2014 its share capital was increased following the exercise of the conversion option of 47 convertible bonds issued in 2013. That resulted in the issuance of 662,763 new ordinary shares.
On February 20 2014 Euronav announced the exercise of its right to redeem all of the bonds on 9 April 2014. 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.
Euronav is a vertically integrated owner operator and manager able to provide complete shipping services in addition to its fleet of modern large tankers. The crude oil sea-borne transportation market is cyclical and highly volatile requiring flexible, proactive management of assets in terms of fleet composition and employment. The Euronav core fleet has an average age of a little over 6 years. Euronav operates its fleet both on the spot and the period market. Most of Euronav's VLCCs and 1 V-Plus are operated in the Tankers International pool. The majority of its Suezmax fleet is fixed on long term charter.
