Euronav submitted an application ask for mediation in connection with Frontline’s activity to go after the discontinuation of the mix arrangement of July 10, 2022.
Following current procurements of extra shares by Famatown Finance Limited (as revealed on Euronav’s web site), Frontline plc, Famatown Finance Limited, Hemen Holding Limited and alsoGeveran Trading Co Limited. might be certified as an associated celebration in the definition of IAS24.
As a preventive step the Euronav Supervisory Board has actually for that reason taken the choice in connection with the declaring of the ask for mediation on the advantages versus Frontline plc, Famatown Finance Limited, Hemen Holding Limited and alsoGeveran Trading Co Limited based on the treatment offered in post 7:116 of the Belgian Code of Companies and also Associations.
Euronav has actually evaluated that Frontline’s independent activity in going after the discontinuation of the mix arrangement has no basis under the regards to the mix arrangement which Frontline stopped working to supply a sufficient factor for its choice to go after discontinuation.
