#Denmark #Hellerup #TORM plc #Restricted Share Units #TRMD A

TORM plc's Significant Capital Increase

In a strategic move to enhance its financial standing and align with shareholder interests, TORM plc has recently declared a capital increase by issuing 28,144 A-shares, a move driven by the exercise of Restricted Share Units (RSUs) as part of its incentive program. This decision reflects TORM's commitment to rewarding its employees and fostering a motivated workforce while simultaneously solidifying its equity base.

Details of the Capital Increase

According to the announcement, the nominal value of the new shares is USD 281.44. Of the total new shares, 7,089 were subscribed in cash at DKK 127.30, while another 13,966 shares were acquired at DKK 139.90, and the remaining 7,089 shares were sold for DKK 195.50. This structured approach allows TORM to attract investment while maintaining financial flexibility.

It's important to note that the capital increase will proceed without the pre-emption rights typically afforded to existing shareholders, a stipulation which may influence the market perception and shareholding structure of TORM plc. The newly issued shares are classified as ordinary shares and will be negotiable instruments, giving holders the right to dividends and other relevant rights from the date of issuance.

Implications of the Share Increase

Upon completion of this capital increase, TORM's total share capital amounts to USD 1,023,671.18, which is divided into 102,367,118 A-shares, each with a nominal value of USD 0.01. Each A-share is entitled to one vote, positioning shareholders effectively in terms of governance.

As part of its ongoing commitment to transparency and accountability, TORM has pledged to ensure that these new shares will be listed on Nasdaq Copenhagen as quickly as possible. This proactive approach to capital management aligns with the company’s long-term strategic objectives and showcases its intention to maintain a robust footprint in the maritime industry.

About TORM plc

Founded in 1889, TORM plc stands as one of the leading carriers of refined oil products globally. With a strong portfolio of product tanker vessels, the company places great emphasis on safety, environmental stewardship, and exceptional customer service. TORM operates on a global scale and has established a solid reputation in the shipping market. The shares of TORM are publicly traded on the Nasdaq exchanges in Copenhagen and New York with the tickers TRMD A and TRMD, respectively.

Forward-Looking Statements

The announcement also includes forward-looking statements which encompass various assumptions that are not guarantees of future performance. The statements reflect TORM’s current views with regard to future developments and financial outcomes. Due to inherent uncertainties, actual results may diverge significantly from these projections. TORM urges stakeholders to consider potential risks such as changing regulatory environments, economic conditions, market competition, and fluctuations in oil price which could materially impact its operational performance.

This capital increase marks a significant step in TORM’s strategy to ensure sustainable growth and to foster shareholder value in an evolving market landscape. The company remains focused on enhancing its operational capabilities and delivering value to its stakeholders through strategic investments and a dedicated workforce.