With reference to Company Announcement no. 30 dated 15 July 2024 where TORM plc (“TORM”) announced the acquisition of eight additional second-hand MR vessels, TORM plc has increased its share capital by 417,026 shares (corresponding to USD 4,170.26 as a result of the delivery of the sixth of the eight vessels. The new shares relate to the settlement of a USD 12.75m allocated loan note issued in connection with the vessel delivery and correspond to USD 30.57 per A-share with a nominal value of USD 0.01 each.
The capital increase is carried out without any pre-emption rights for existing shareholders or others.
All of the issued shares will be subject to a lock-up for a period of 40 days commencing on the date such shares are issued (the “Lock-up Period”) provided that during the Lock-up Period, the newly issued shares may be resold outside of the United States in transactions pursuant to and in compliance with Regulation S of the Securities Act of 1933, including on Nasdaq Copenhagen, but may not be resold in the United States.
The new shares (i) are ordinary shares without any special rights and are negotiable instruments, (ii) give right to dividends and other rights in relation to TORM as of the date of issuance and (iii) are expected to be admitted to trading and official listing on Nasdaq Copenhagen as soon as possible.
After the capital increase, TORM’s share capital amounts to USD 968,447.62 divided into 96,844,760 A-shares of USD 0.01 each, one B-share of USD 0.01 and one C-share of USD 0.01. A total of 96,844,760 votes are attached to the A-shares. The B-share and the C-share have specific voting rights.
Source: TORM
