Euronav NV (“EURN” or “Euronav”) welcomes today’s announcement from leading independent proxy advisory firm, Institutional Shareholder Services Inc. ("ISS"), which has recommended that the Company's shareholders vote IN LINE with the Euronav Supervisory Board’s recommendations at the special general shareholders’ meeting to be held on 23 March 2023.
Commenting on the ISS report, Euronav’s Supervisory Board said: "We are pleased with the support we have received from ISS, which has recommended that shareholders SUPPORT ALL of the Supervisory Board’s voting recommendations. The backing of ISS further validates our position to maintain the current independent Supervisory Board and the continuity necessary to foster value creation for all stakeholders, while adapting the Supervisory Board’s composition to reflect the current shareholding structure of Euronav.”
In supporting the Euronav Supervisory Board's recommendations, ISS's report stated that “the Euronav recommendation is an equitable compromise reflective of the current ownership structure.”
With respect to CMB’s resolutions, ISS notes that “a vote AGAINST items 1.1 to 1.5 and 2.3 to 2.5 5 is warranted because CMB has not publicly disclosed a compelling justification for the complete overhaul of the board and CMB controlling the board is not reflective of CMB's current 25 percent shareholding.”
Euronav’s Supervisory Board strongly reiterates the following voting guidance for the upcoming special general shareholders’ meeting to:
