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 14,178 A-shares (corresponding to a nominal value of USD 141.78) 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. 7,089 of the new shares have been subscribed for in cash at DKK 43.4 per A-share and 7,089 at DKK 47.4 per A-share, all 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 20 April 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 758,611.62 divided into 75,861,160 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 75,861,160 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.: [phone]	Birchin Court, 20 Birchin Lane
	London, EC3V 9DU, United Kingdom
	Tel.: [phone]
	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.