TORM plc Boosts Capital Through Restricted Share Units Exercise
TORM plc Boosts Capital Through Restricted Share Units Exercise
TORM plc (NASDAQ: TRMD) recently announced a significant increase to its share capital. This change involved the issuance of 11,236 A-shares, which correspond to a nominal value of USD 112.36. The shares were made available through the exercise of Restricted Share Units as part of their comprehensive incentive program.
New shares are available to investors at a cash price of DKK 0.08 per A-share. This approach not only helps TORM to enhance its financial standing but also encourages participation from shareholders, signaling the company’s commitment to growth and investment.
It’s important to note that while this capital increase is conducive to TORM’s strategic goals, transfer restrictions may exist in certain jurisdictions, including U.S. securities laws, which means potential investors should be aware of these regulations.
The new shares bring important rights. Firstly, they are ordinary shares and do not carry any extraordinary rights. Secondly, holders of these shares are entitled to dividends and additional rights associated with TORM from the date these shares are issued. Within a short time frame, these shares will also be anticipated to trade on Nasdaq Copenhagen.
TORM’s share capital now stands at USD 979,524.31, which is comprised of 97,952,429 A-shares, one B-share, and one C-share, all with a nominal value of USD 0.01 each. It is notable that all A-shares hold a total of 97,952,429 voting rights. The B and C shares carry specific voting rights that may offer strategic advantages for certain shareholders.
Contact Information
Mikael Bo Larsen, Head of Investor Relations
Tel.: +45 5143 8002
About TORM
Founded in 1889, TORM is a premier global carrier of refined oil products, prioritizing safety and customer satisfaction. Operating a diverse fleet of product tankers, TORM’s reputation is built on reliable service and environmental responsibility. Its shares are actively traded on both Nasdaq in Copenhagen and New York (ticker symbols: TRMD A and TRMD, ISIN: GB00BZ3CNK81).
With the issuance of new shares, TORM aims to further solidify its market position while providing significant returns to its investors. By tapping into the potential of Restricted Share Units, TORM demonstrates its innovative approach to aligning employee interests with those of shareholders, fostering a culture of mutual growth and empowerment.
This proactive capital management strategy is more than just a financial maneuver; it is a reflection of TORM’s long-term vision to adapt and thrive in a competitive global environment. By continually engaging in effective resource allocation, TORM ensures solid operational performance and stability.
As TORM moves forward, it embraces the forward-looking approach to business that incorporates various factors influencing the oil transport industry. The company is well-positioned to tackle challenges and capitalize on opportunities, ensuring that stakeholders are informed and engaged.
TORM recognizes the importance of strategic foresight in navigating various external challenges, from fluctuations in oil prices to regulatory changes across different markets. The company is committed to maintaining transparency with its stakeholders as it advances its strategies sustainably and responsibly.
Frequently Asked Questions
What triggered TORM plc's recent capital increase?
The recent capital increase was triggered by the exercise of Restricted Share Units as part of TORM's incentive program.
How many A-shares were issued during this capital increase?
TORM issued 11,236 A-shares during this capital increase, which corresponds to a nominal value of USD 112.36.
What benefits do the new shares offer shareholders?
These new shares are ordinary shares that entitle holders to dividends and rights in relation to TORM from the date of issuance.
What is TORM's approach to future growth and investment?
TORM aims to foster growth and investment through strategic capital management and innovative employee incentive programs.
Who can investors contact for more information regarding TORM?
Investors can contact Mikael Bo Larsen, the Head of Investor Relations, for further information regarding TORM.
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