Euronav increases share capital through conversion of bonds
On 22 April 2014 Euronav NV's share capital was increased following the exercise of the conversion option of the last outstanding convertible bond issued in 2013, for which the company received a conversion notice prior to the deadline for redemption, the Company said in its press release.
That resulted in the issuance of 14,101 new ordinary shares and gives the following overview: total subscribed capital (USD) reached $130,966,225.15 ($130,950,898.60); total number of ordinary shares in issue (with voting rights)* - 120,493,858 (120,479,757); total number of outstanding convertible bonds maturing 2015 - 250 (250); total number of outstanding convertible bonds maturing 2018 - 0 (1).
As none of the convertible bonds maturing in 2018 remain outstanding, the company has no further obligations to make semi-annual interest payments under these bonds that amounted to approximately USD 8.1 million per year.
About Euronav
Antwerp, Belgium headquartered Euronav (EURN) is one of the world's leading independent tanker companies engaged in the ocean transportation and storage of crude oil. The Company has offices throughout Europe and Asia. 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 40 double hulled vessels being 1 V-Plus, 2 FSO vessels (both owned in 50%-50% joint venture), 14 VLCCs of which 1 in joint venture (including the VLCC Luxembourg which is already sold but will be delivered between May and mid-June 2014) 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 13 VLCCs. The Company’s vessels mainly fly Belgian, Greek, French and Marshall Island flags.