#Denmark #Annual General Meeting #Hellerup #TORM plc #shareholder resolutions

TORM plc Annual General Meeting Updates

On April 15, 2026, TORM plc (NASDAQ: TRMD), a leading player in the refined oil products transportation sector, held its Annual General Meeting (AGM) where it reported a significant turnout among shareholders. All resolutions presented in the notice dated March 5, 2026, were effectively ratified during the event, showcasing robust support for the management's decisions.

Attendance and Voting Summary

The AGM saw eligible votes amounting to 102,123,339, with a total of 53,955,672 votes cast, equating to approximately 52.83% of the total voting rights. This level of participation underscores the active engagement of shareholders in shaping the future of the company.

Ordinary Resolutions

Among the key actions taken during the AGM, the following resolutions were passed with overwhelming approval:

1. Adoption of Annual Report and Accounts 2025: 99.9% in favor
2. Approval of Directors' Remuneration Report 2025: 78.55% in favor
3. Approval of the Company's Remuneration Policy: 78.54% in favor
4. Reappointment of Ernst & Young LLP as auditors: 99.81% in favor
5. Authorization for the Directors to fix auditors' remuneration: 99.71% in favor
6. Reappointment of key Non-Executive Directors: All received over 99% support except Göran Trapp, who garnered around 84.61% approval.

These results reflect shareholders’ confidence in TORM’s governance and strategic direction, reaffirming the company’s commitment to transparency and accountability.

Share Buyback and Dividend Policy

The AGM also addressed the crucial topics of share buybacks and dividend distribution. TORM reiterated its capital return framework, which is assessed quarterly based on operational performance, financial health, and market circumstances. A Q4 2025 interim dividend was distributed on March 25, 2026, in line with TORM’s established practice of rewarding shareholders promptly.

The proposals for share buybacks were presented as a means of retaining flexibility in capital management and were discussed with emphasis on their potential future execution under specified contractual arrangements. The Board emphasized that these buybacks would only occur if deemed beneficial to the company and its shareholders.

Areas of Concern

Interestingly, over 20% of votes were cast against certain recommendations regarding the remuneration reports and the updated Articles of Association. The Board aims to engage with those shareholders to uncover the reasons behind their dissenting votes. They acknowledged that inconsistent compliance with UK Corporate Governance guidelines might have influenced this outcome, particularly for the remuneration-related resolutions.

About TORM

Founded in 1889, TORM has established itself as a premier carrier of refined oil products globally, known for its strong safety protocols and commitment to environmental sustainability. The company operates a diversified fleet of product tankers and is listed on multiple stock exchanges, including NASDAQ in Copenhagen and New York.

As TORM moves forward from this AGM, the company is set to continue prioritizing shareholder interests and maintaining robust corporate governance practices while navigating the challenges and opportunities of the energy shipping sector. The management remains vigilant about external market conditions and articulates an unwavering commitment to operational excellence and strategic growth.

For more information, visit TORM's official website.