Livanos Becomes Euronav Chairman
On 22 July 2014, the Board of Directors of Euronav NV unanimously appointed Peter G. Livanos as Chairman of the Board, with immediate effect in replacement of Marc Saverys who was appointed Vice Chairman of the Board of Directors. Saverys said, “I am pleased to step down after one of the busiest times the company had in its history and give the chairmanship to Peter for a period that promises to be very exciting, as the expected tanker shipping markets recovery seems in sight. Peter G.
Euronav to Raise $150M of Perpetual Convertible Preferred Equity
The board of directors of Euronav NV announced that the company has raised $150 million (USD) via a private placement of a perpetual convertible preferred equity instrument. The instrument will be issued at par and will bear an interest of 6% during the first five years payable annually in arrears in cash or in shares at the option of the company. The price against which the securities can be contributed is €5.776 (or $7.928715 at EUR/USD exchange rate of 1.3727) per common share.
