TORM plc Expands Capital With New Shares Amid Incentive Program

TORM plc Expands Capital with New Shares Amid Incentive Program

On March 21, 2025, TORM plc (traded on NASDAQ as TRMD) reported a significant increase in its share capital, marking a notable step in its ongoing commitment to retain talented personnel through its incentive program. The company has issued an additional 262,294 A-shares, which corresponds to a nominal value of USD 2,622.94, as part of the exercise of Restricted Share Units (RSUs).

This capital increase is noteworthy due to its process; all new shares were subscribed for in cash at a price of DKK 0.08 per A-share. Transfer restrictions may however apply to these shares in certain jurisdictions outside of Denmark, primarily influenced by US securities laws. Interestingly, this transaction has proceeded without the use of pre-emption rights for existing shareholders, thus reflecting TORM's strategic decision to enhance its equity through direct share issuance.

The new ordinary shares are without any special rights, classified as negotiable instruments. Notably, they come with entitlement to dividends and other rights related to TORM from their date of issuance. Following this increase in capital, TORM's total share capital now stands at USD 982,518.10, distributing across 98,251,808 A-shares, 1 B-share, and 1 C-share, each valued at USD 0.01. These shares collectively carry voting privileges, with the A-shares amounting to a total of 98,251,808 votes.

Looking to the future, TORM anticipates that these new shares will be listed for trading on Nasdaq Copenhagen in the near term. This reflects not only TORM's ongoing growth strategy but also its dedication to providing a stable and rewarding environment for both its employees and shareholders.

About TORM

Founded in 1889, TORM has emerged as one of the leading carriers of refined oil products across the globe. With a robust fleet dedicated to safety, environmental responsibility, and exceptional customer service, TORM has established itself as a key player in maritime logistics. The company is publicly traded, with shares listed on both Nasdaq Copenhagen and Nasdaq New York under ticker symbols TRMD-A and TRMD, respectively.

In light of these developments, TORM is focused on future growth, not only through increasing its capital but also in adapting to the ever-changing landscape of the maritime industry. With the competitive nature of the market, TORM remains vigilant about ensuring strong operational performance while managing risk across various fronts, including geopolitical events, regulatory changes, and economic fluctuations.

As TORM continues to enhance its position within the market through strategic capital increases and employee incentive programs, it underscores the importance of aligning shareholder interests with those of its workforce, creating a sustainable business model poised for long-term success.

For further details on this capital increase or more about TORM's operational initiatives, stakeholders are encouraged to visit the company's official website at www.torm.com or directly contact Mikael Bo Larsen, Head of Investor Relations.

In conclusion, TORM plc's recent capital increase, initiated through the exercise of RSUs, exemplifies the company's proactive approach to fostering a robust financial and operational future. By prioritizing employee engagement through sustainable incentives and capital growth, TORM positions itself strongly for the opportunities lying ahead in the global market.