#Denmark #Hellerup #TORM plc #Restricted Share Units #NASDAQ: TRMD

TORM plc Expands Capital Through New Share Issuance

TORM plc, a leading global carrier of refined oil products, has reported a substantial increase in its share capital. This growth stems from the exercise of Restricted Share Units (RSUs) that are integral to TORM’s incentive program. A total of 18,769 A-shares have been issued, equivalent to USD 187.69 in nominal value, marking a strategic move to bolster its financial position and engage its employees more effectively.

Overview of Share Issuance

The newly minted shares were accepted in cash, valued at DKK 0.08 per A-share. Importantly, this capital increase process did not include any pre-emption rights for existing shareholders or other stakeholders, which is particularly notable in the context of equity financing. The implications of this share increase are far-reaching, not only enhancing TORM’s capital structure but also positioning the company for future growth.

Each of these A-shares boasts the characteristics of ordinary shares without special rights, and they are classified as tradable instruments. Once issued, these shares confer rights to dividends and other related benefits valid from the issuance date. Market expectations indicate that these shares will be listed on Nasdaq Copenhagen shortly.

Current Share Structure

Following this capital increase, TORM’s total share capital now stands at USD 982,829.85, organized into 98,282,983 A-shares each with a par value of USD 0.01, alongside a single B-share and a single C-share, each also with a nominal value of USD 0.01. This structure allows for 98,282,983 voting rights associated with A-shares, while B and C shares carry specific voting rights allowing for different governance capabilities within the company’s framework.

Strategic Importance

The capital augmentation comes at a pivotal time as TORM navigates the intricacies of global maritime logistics. The company operates a fleet equipped for transporting refined oil products, emphasizing its unwavering commitment to safety, environmental stewardship, and superior customer service. Founded in 1889, TORM has evolved into one of the foremost operators globally, leveraging modern technologies and strategic partnerships to maintain its competitive edge.

Forward-Looking Statements

In light of evolving industry dynamics, TORM's announcement also encapsulates a range of forward-looking statements. It highlights the potential future events and corporate aspirations contingent upon several variables ranging from governmental regulations to geopolitical events which could substantially influence operational performance. These include trade policies, fuel regulations, and even climate-related challenges, emphasizing the company’s adaptability in an unpredictable market.

As TORM continues to ramp up its operations, the newly issued shares undergird its financial strategies aimed at sustainable growth. The company's robust governance and adherence to the highest industry standards are anticipated to further enhance shareholder value and stakeholder trust.

For any inquiries related to this development, stakeholders can connect with Mikael Bo Larsen, Head of Investor Relations, who remains accessible via phone at +45 5143 8002.

Conclusion

This increase in share capital through RSUs is a testament to TORM's dedication to fostering a motivated workforce while simultaneously enhancing its market competitiveness. With a notable historical foundation and a forward-looking growth strategy, TORM plc is poised for continued success in the global shipping industry.