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Torm | 6-K: Report of foreign private issuer [Rules 13a-16 and 15d-16]

SEC announcement · Mar 22 16:11

TRMD +2.08%

Summary by Moomoo AI

TORM plc, a leading carrier of refined oil products, announced on March 22, 2024, a capital increase through the issuance of 570,006 new Class A common shares at a par value of $0.01 each. This move is in connection with the delivery of the seventh LR2 product tanker vessel out of a series of eight that the company previously announced it was acquiring. The capital increase, which corresponds to a total value of USD 5,700.06, is related to the settlement of a USD 20.6 million allocated loan note issued for the vessel's delivery, pricing each A-share at USD 36.14. The new shares are issued without pre-emption rights for existing shareholders and will be subject to a 40-day lock-up period, although they may be resold outside the United States in compliance with Regulation S of the Securities Act of 1933. The shares are expected to be admitted to trading on Nasdaq Copenhagen shortly. Following the capital increase, TORM's share capital now stands at USD 926,644.88, divided into 92,664,486 A-shares, with one B-share and one C-share, both with specific voting rights. TORM operates approximately 90 product tanker vessels and is listed on Nasdaq in Copenhagen and New York.

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