LIMASSOL, Cyprus, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Famatown Finance Limited¹ (“Famatown” or “the company”) announces that, with respect to the EGM of Euronav NV (NYSE: EURN, Euronext: EURN) planned for 23 March 2023, it intends to exercise its shareholder rights and propose as candidates for the Euronav supervisory board Mr. John Fredriksen and Mr. Cato H. Stonex. The bios of Mr. Fredriksen and Mr. Stonex are included below. The company will take the necessary steps in view of the EGM to formalize this proposal.

Famatown further fully reserves its rights as shareholder, including its rights to make further proposals for amendment of the EGM and to exercise its voting rights in its full discretion.

Mr. John Fredriksen (born 10th May 1944) is a Norwegian-born Cypriot businessman based in London. Trusts settled by Mr. Fredriksen for the benefit of his close family members control significant interests in shipping, offshore, property, fish farming and other industries where the most known shipping interests are the publicly listed companies Frontline Plc, Golden Ocean Ltd, SFL Corp. Ltd, Flex LNG Ltd and Avance Gas ASA. He has over the last seven decades become one of the most prominent figures in the shipping industry with the key philosophy being efficient and transparent business operations focused on generating shareholder returns.

Mr. Cato H. Stonex (born 17th December 1963) is a British Citizen and has had a long career in Fund management, initially with J Rothschild Investment Management. He was then a founder partner of Taube Hodson Stonex for 20 years, which managed institutional portfolios of Global Equity mandates. THS was sold to GAM in 2016, since when he has established Partners Investment Company, which has focused on stock picking in small and mid-cap equities, largely in Europe. In 2021 Partners Investment Company LLP became Stonex Capital Partners Ltd and that same year Cato also funded WMC Capital LTD, an investment company focused on the recovery of the global shipping industry. He has also been involved in a range of other business areas. He has been a long-term investor in German property and is a founder and director of Obotritia, a German conglomerate with interests in property, venture capital and banking. Since 2016 he has been a director of two Spanish property companies, Axiare and Arima, the first of which was sold in 2018 and the second which is listed on the Madrid stock exchange. He has a range of other private business interests. He holds an undergraduate degree from the London School of Economics and Political Science, where he served for ten years as a Governor and is now an Emeritus Governor. He has chaired its Development Committee and is now an advisor to the Endowment Investment Committee. He is closely involved with LSE Ideas, a leading academic think tank.

Cautionary Statements

Statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include words or phrases such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “could,” “may,” “might,” “should,” “will” and similar words and specifically include statements relating to future financial performance and shareholder value. Forward-looking statements are aspirational and are not guarantees or promises that such expectations, plans, or goals will be met. They are also subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking or other statements, except as required by law and notwithstanding any historical practice of doing so.

Investor & Media Contact:
Elena Varnava
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+ 357 25 858300

¹ According to a Schedule 13D/A filed with the U.S. Securities and Exchange Commission on January 26, 2023, Famatown Finance Limited and entities related to it reported beneficial ownership of 50,426,478 ordinary shares of Euronav NV, representing 24.99% of its outstanding ordinary shares.