EuroNav Demerger OK’d

Monday, September 20, 2004
The board of directors approved the proposal to demerge the crude oil shipping activities. For this purpose a demerger proposal will be deposited with the Registry of Commerce in Antwerp on September 21, 2004. Within the framework of this operation the crude oil activities will be demerged from CMB nv into Euronav nv. As a consequence of the demerger all CMB shareholders will be granted new shares in Euronav. CMB has already submitted a ruling application to the Ruling Commission in order to obtain confirmation of the tax neutrality of the envisaged transaction. CMB will also apply for a separate listing of the Euronav shares with Euronext Brussels, subject to the approval of the extraordinary general shareholders’ meeting. Said transaction will be explained in detail in a prospectus that will be submitted to the approval of the Banking Finance and Insurance Commission. The date of the extraordinary general meeting that will decide on the demerger will be fixed during a meeting of the board of directors on 26 October 2004 and will depend amongst others on the obtaining of a favourable ruling by the Ruling Commission.
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Caterpillar: Q3 Results Show Improvement

Caterpillar Inc. today announced its third-quarter results, in which it reported profit per share of $1.63 for the third quarter of 2014, an increase from third-quarter 2013 profit per share of $1.

Wärtsilä Expects 5% Sales Growth

Wärtsilä announced its third quarter results, reporting that it sees good development in order intake and profitability. According to Wärtsilä, third quarter

MacGregor Reorganizes into 7 Operative Divisions

MacGregor, part of Cargotec, announces changes in its operative structure and starts a reorganization into seven operative divisions which will become effective on January 1, 2015.

Finance

Caterpillar: Q3 Results Show Improvement

Caterpillar Inc. today announced its third-quarter results, in which it reported profit per share of $1.63 for the third quarter of 2014, an increase from third-quarter 2013 profit per share of $1.

Wärtsilä Expects 5% Sales Growth

Wärtsilä announced its third quarter results, reporting that it sees good development in order intake and profitability. According to Wärtsilä, third quarter

Yara Reports Strong 3Q Results

Yara International ASA delivered strong third-quarter results, with record fertilizer deliveries and continued margin benefit from lower European gas price. "Yara

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.4730 sec (2 req/sec)