Euronav General Shareholders Meeting Results

Source: www.gulfoilandgas.com 5/19/2022, Location: Europe

Euronav NV is pleased to announce that the General Meeting of Shareholders has approved the annual accounts for the year ended 31 December 2021, as well as the gross distribution of USD 0.06 per share covering Q4 2021 and Q1 2022. All other resolutions proposed by Euronav’s Supervisory Board have also been approved.

Election and re-election of Supervisory Board members proposed by Euronav
The General Meeting approved the reappointment of both Grace Skaugen and Anne-Hélène Monsellato as independent directors for terms of two years. In addition, Steven Smith was appointed as an independent director for two years. Mr. Smith previously served as a member of the Board from 2018 to 2019.

CMB’s Proposed Supervisory Board members
The three directors proposed by CMB (Ludovic Saverys, Patrick De Brabandere and Bjarte Boe) were not elected.

Election of new Chairperson of Euronav
Following the General Meeting, the Supervisory Board decided to nominate Grace Skaugen as the new chairperson of Euronav with immediate effect. All members of the Supervisory Board would like to take this opportunity to thank Carl E. Steen for his outstanding service and commitment since joining the Board in 2015. Carl decided not to stand for re-election after having completed two terms.

Distribution to Shareholders
The distribution to shareholders in the amount of USD 0.06 will be paid in EUR at the USD/EUR exchange rate of the record date. In view of this payment, investors are reminded that shareholders cannot reposition their shares between the Belgian share register and the U.S. share register from 30 May 2022 9 a.m. CET until 1 June 2022 9 a.m. CET. The distribution of USD 0.06 will be made out of the share premium account free of any withholding tax deduction.

Ex-dividend date 30 May 2022
Record date 31 May 2022
Payment date 8 June 2022

Proposed Merger with Frontline – Next Steps
The results of the Supervisory Board election and its composition deliver a clear signal from a majority of the shareholders that they are in favour of the strategy outlined by Euronav’s Supervisory and Management Boards, including the proposed merger with Frontline.

Euronav management looks forward to finalising the details of the proposed combination with Frontline. Since the announcement on April 7, both sides have been working diligently to agree on and finalise an appropriate transaction structure for the potential business combination, along with identification of cost and revenue synergies. Good and solid progress has been made in this respect.


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