Welcome to our dedicated page for Torm news (Ticker: TRMD), a resource for investors and traders seeking the latest updates and insights on Torm stock.
TORM plc operates a global product tanker fleet that transports refined oil products, including gasoline, jet fuel, naphtha and diesel. Company news commonly covers fleet and shipping-market disclosures alongside governance actions for an issuer whose A-shares trade on Nasdaq Copenhagen and Nasdaq New York.
Recurring updates include annual general meeting notices and voting results, dividend and capital-return policy references, share-capital increases tied to Restricted Share Units, long-term incentive program grants, director and executive securities transactions, and major-shareholder announcements under Danish capital-market rules.
TORM plc (TRMD) held its Annual General Meeting on April 16, 2025, where all proposed resolutions were successfully passed. The meeting saw strong shareholder participation with 62.04% of eligible votes cast for general resolutions and 91.71% for director appointments.
Key approvals included: the 2024 Annual Report (92.63% in favor), Directors' Remuneration Report (94.21% in favor), and reappointment of Ernst & Young LLP as auditor (99.05% in favor). Notable governance decisions included the reappointment of board members, with Executive Director Jacob Meldgaard receiving 99.88% approval.
Shareholders also approved two significant special resolutions: a reduction in share premium account by USD 180 million (98.95% in favor) and the cancellation of Treasury Shares (99.05% in favor).
TORM plc has announced adjustments to its Long Term Incentive Program and Retention Program. Following the exercise of 365,096 original RSUs, the Board of Directors has granted adjustment RSUs to certain employees to account for dividend payments since the initial grant date. A total of 148,027 RSUs will be issued as restricted stock options with a strike price of one U.S. cent.
Additionally, Executive Director Jacob Meldgaard will receive 33,559 adjustment RSUs following his exercise of 85,067 original RSUs granted in 2022. These adjustment RSUs are designed to reflect dividend payments and will maintain the same exercise window as the original grants.
TORM plc (NASDAQ: TRMD) has announced a capital increase through the issuance of 12,406 A-shares, corresponding to a nominal value of USD 124.06. The new shares were subscribed for in cash at DKK 0.08 per A-share as part of the company's incentive program through Restricted Share Units exercise.
Following this capital increase, TORM's total share capital now amounts to USD 982,642.16, consisting of 98,264,214 A-shares (USD 0.01 each), one B-share (USD 0.01), and one C-share (USD 0.01). The A-shares carry a total of 98,264,214 votes, while the B and C shares have specific voting rights. The new shares are expected to be listed on Nasdaq Copenhagen.
TORM plc disclosed a notification regarding transactions in company securities by directors, executive officers, and their closely associated persons. The announcement was made from Hellerup, Denmark on March 24, 2025. For inquiries, stakeholders can contact Mikael Bo Larsen, Head of Investor Relations.
TORM plc (NASDAQ: TRMD) has announced a capital increase through the issuance of 262,294 A-shares, with a nominal value of USD 2,622.94, following the exercise of Restricted Share Units as part of its incentive program. The new shares were subscribed for in cash at DKK 0.08 per A-share.
The new ordinary shares will carry standard rights, including dividend eligibility from the issuance date, and are expected to be listed on Nasdaq Copenhagen. Following this capital increase, TORM's total share capital stands at USD 982,518.10, comprising 98,251,808 A-shares, one B-share, and one C-share, all with a USD 0.01 par value. The A-shares carry 98,251,808 votes, while the B and C shares maintain specific voting rights.
TORM plc has announced its upcoming Annual General Meeting (AGM) scheduled for Wednesday, 16 April 2025 at noon London time. The company has released the formal notice and complete proposals to be discussed at the meeting.
TORM plc has announced a new long-term incentive program, granting 1,326,087 Restricted Share Units (RSUs) to certain employees and an additional 255,200 RSUs to Executive Director Jacob Meldgaard. The RSUs are structured as restricted stock options, vesting over three years with one-third vesting annually starting January 1, 2025.
The exercise price is set at DKK 162.38 per TORM A-share, calculated as the 90-day average preceding the 2024 Annual Report plus a 15% premium. Vested RSUs can be exercised within 360 days of each vesting date. The theoretical market value of the RSU allocation is USD 4.1 million, calculated using the Black-Scholes model with a current share price of DKK 120.40 and estimated volatility of 42.5%.
TORM plc has announced an increase in its share capital by issuing 19,494 A-shares, raising a nominal value of USD 194.94. This capital increase was executed without pre-emption rights for existing shareholders, with shares subscribed in cash at DKK 47.4 each. The total share capital after this increase is now USD 812,332.71, divided into 81,233,269 A-shares and one B-share and C-share, each of USD 0.01. The new shares will be listed on Nasdaq in Copenhagen on December 21, 2021, and will confer standard rights to dividends.
TORM plc has raised its share capital by issuing 106,121 A-shares following the exercise of Restricted Share Units. Of these, 81,310 shares were subscribed at DKK 47.4 each, while 24,811 shares were subscribed at DKK 43.4 each. The new ordinary shares, with a nominal value of USD 0.01, will be eligible for dividends and other rights from the issuance date and are expected to be listed on Nasdaq Copenhagen on November 23, 2021. Following this increase, TORM’s total share capital is USD 812,137.77.
The third quarter of 2021 presented significant challenges for TORM due to restricted crude supply leading to historically low product tanker freight rates. TORM reported an EBITDA of USD 30.4m, a drop from USD 43.4m in Q3 2020, and a loss before tax of USD -14.1m compared to a profit of USD 1.0m in the previous year. TCE rates also declined, averaging USD/day 12,854 versus USD/day 16,762 in 2020. Despite these challenges, TORM maintained operational efficiency and liquidity, reporting cash flow from operations of USD 12.0m and available liquidity of USD 185.5m as of September 30, 2021.