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TORM plc's Annual General Meeting: Key Decisions Made on April 16, 2025

On April 16, 2025, TORM plc, a prominent player in the maritime oil transportation industry, conducted its Annual General Meeting (AGM), where crucial decisions affecting the company's governance and financial strategies were deliberated. The meeting, attended by a considerable number of shareholders, focused on resolutions set forth in the notice distributed on March 17, 2025.

Key Highlights from the AGM

During the AGM, it was reported that a total of 97,770,844 eligible votes were registered for several resolutions concerning the company's operations. A remarkable 62.04% of shareholders participated in the voting process, indicating robust engagement within the investor community.

Among the resolutions passed:

1. Annual Report Adoption: The adoption of the Annual Report and Accounts for 2024 received overwhelming support with 92.63% voting in favor. This decision underscores the company’s transparency in financial reporting.
2. Directors' Remuneration: Approval of the Directors' Remuneration Report also saw high approval at 94.21%. This resolution acknowledges the value the board brings to TORM, ensuring that the management is adequately compensated for their efforts in steering the company.
3. Auditor Reappointment: Shareholders voted to re-appoint Ernst & Young LLP, reflecting confidence in the auditing processes employed by TORM. This resolution garnered 99.05% approval.
4. Directorial Changes: The reappointment of key directors such as Chairman Christopher H. Boehringer and other non-executive directors, received considerable backing, highlighting consistent leadership.

The company also tackled more complex resolutions relating to capital management:

• - A special resolution to reduce the company’s share premium account by $180 million was passed with an impressive 98.95% in favor. This indicates strategic financial management aimed at enhancing shareholder value.
• - Another significant resolution involved canceling and extinguishing treasury shares, with 99.05% of votes supporting this move. It reflects TORM’s initiative to optimize its capital structure thereby benefiting shareholders in the long run.

TORM's Commitment to Shareholders

TORM's AGM not only focused on corporate governance but also highlighted the company’s commitment to sustainability and customer service within the maritime industry. The discussions on corporate strategies encapsulated the essence of TORM’s dedication to ensuring safe and environmentally responsible oil transportation.

The CEO, Jacob Meldgaard, expressed gratitude towards shareholders for their active participation and support, emphasizing the importance of their engagement in shaping TORM's future. The meeting concluded with a renewed focus on enhancing shareholder value while maintaining operational excellence.

Future Outlook

As TORM moves forward, the company remains optimistic about leveraging its operational strengths to navigate the challenges posed by the global maritime market, including fluctuations in oil prices and regulatory changes. The approval of key resolutions during the AGM positions TORM to further strengthen its market presence and address future opportunities effectively.

For additional details on TORM’s operations and financial standing, stakeholders are encouraged to visit TORM’s official website.

In conclusion, the outcomes from TORM plc's AGM reflect a strong alignment between the company's strategic direction and shareholder interests, setting a positive tone as it continues to operate in the vital sector of maritime oil transportation.