TORM plc, a leading carrier of refined oil products, announced on January 24, 2024, an increase in its share capital by 1,237,266 Class A common shares. This capital increase is associated with the delivery of the fourth and fifth LR2 product tanker vessels from an acquisition of eight, and the exercise of Restricted Stock Units as part of the company's incentive program. The share capital increase includes 1,223,088 shares for the vessel delivery, settled through a USD 38.2 million allocated loan note, and 14,178 shares from the exercise of Restricted Stock Units. The new shares, which are expected to be admitted to trading on Nasdaq Copenhagen on January 26, 2024, will be subject to a 40-day lock-up period, although they may be resold outside the United States...Show More

TORM plc, a leading carrier of refined oil products, announced on January 24, 2024, an increase in its share capital by 1,237,266 Class A common shares. This capital increase is associated with the delivery of the fourth and fifth LR2 product tanker vessels from an acquisition of eight, and the exercise of Restricted Stock Units as part of the company's incentive program. The share capital increase includes 1,223,088 shares for the vessel delivery, settled through a USD 38.2 million allocated loan note, and 14,178 shares from the exercise of Restricted Stock Units. The new shares, which are expected to be admitted to trading on Nasdaq Copenhagen on January 26, 2024, will be subject to a 40-day lock-up period, although they may be resold outside the United States in compliance with Regulation S. Following the capital increase, TORM's share capital amounts to USD 906,992.38, divided into 90,699,236 A-shares, with one B-share and one C-share, each with specific voting rights. The announcement also reaffirms TORM's commitment to safety, environmental responsibility, and customer service, and highlights its global business operations and listings on Nasdaq in Copenhagen and New York.