Summary by Moomoo AI
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