Capital increase in TORM due to exercise of Restricted Share Units as part of the Company’s incentive program
TORM plc (“TORM”) increases its share capital by 7,089 A-shares (corresponding to a nominal value of USD 70.89) as a result of the exercise of a corresponding number of Restricted Share Units.
The capital increase is carried out without any pre-emption rights for existing shareholders or others. The new shares have been subscribed for in cash at DKK 43.4 per A-share with a nominal value of USD 0.01 each.
The new shares are ordinary shares without any special rights and are negotiable instruments. The new shares give right to dividends and other rights in relation to TORM as of the date of issuance. The new shares are expected to be admitted to trading and official listing on Nasdaq in Copenhagen on 27 January 2021. Transfer restrictions may apply in certain jurisdictions outside of Denmark, including applicable U.S. securities laws.
After the capital increase, TORM’s share capital amounts to USD 748,630.20 divided into 74,863,018 A-shares of USD 0.01 each, one B-share of USD 0.01 and one C-share of USD 0.01. A total of 74,863,018 votes are attached to the A-shares. The B-share and the C-share have specific voting rights.
CONTACT | TORM plc |
Christopher Everard, General Manager, tel.: +44 203 713 4561 | Birchin Court, 20 Birchin Lane |
London, EC3V 9DU, United Kingdom | |
Tel.: +44 203 713 4560 | |
www.torm.com |
ABOUT TORM
TORM is one of the world’s leading carriers of refined oil products. The Company operates a fleet of approximately 80 modern vessels with a strong commitment to safety, environmental responsibility
and customer service. TORM was founded in 1889. The Company conducts business worldwide. TORM’s shares are listed on Nasdaq in Copenhagen and on Nasdaq in New York (ticker: TRMD A and TRMD). For
further information, please visit www.torm.com.
SAFE HARBOR STATEMENTS AS TO THE FUTURE
Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may
include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and statements other than statements of historical facts. The words
“believe,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions generally identify forward-looking
statements.