Torm Plc Stock Price, News & Analysis

TORM plc announced a capital increase of 54,905 A-shares, resulting from the exercise of Restricted Share Units. The new shares, priced at DKK 43.4 each, have a nominal value of USD 0.01 and will not offer pre-emption rights to existing shareholders. Following this issuance, TORM's share capital rises to USD 811,076.56, comprising 81,107,654 A-shares. The shares are expected to be listed on Nasdaq Copenhagen on August 27, 2021, and provide rights to dividends. TORM operates a fleet of about 80 vessels, focused on transporting refined oil products worldwide.

TORM plc has increased its share capital by 88,399 A-shares, equating to a nominal value of USD 883.99, due to the exercise of Restricted Share Units. New shares were issued at DKK 43.4 each without pre-emption rights for existing shareholders. TORM's total share capital now stands at USD 810,527.51, comprising 81,052,749 A-shares. The new shares are set to be listed on Nasdaq in Copenhagen on 20 August 2021. These shares carry rights to dividends and votes, with total voting rights attached to A-shares amounting to 81,052,749.

TORM reported a Q2 2021 EBITDA of USD 44.7m and a profit before tax of USD 2.4m, a decline from USD 119.0m and USD 71.4m respectively in the same period of 2020. TCE rates also decreased significantly from USD/day 25,274 to USD/day 14,591. Despite a USD 81m increase in vessel market values, the overall product tanker market remains weak due to ongoing impacts from COVID-19. TORM's cash flow from operating activities was USD 13.4m, down from USD 113.3m in Q2 2020. The company had an available liquidity of USD 267.4m as of June 30, 2021.

TORM plc (ticker: TRMD) is set to release its financial results for Q2 2021 and the first half of the year on August 10, 2021. The results will be discussed in a conference call scheduled for 09:00 am ET, where participants can dial in at least ten minutes early using the provided conference ID. A live webcast will also be available on TORM’s website, along with a replay option until August 24, 2021. TORM is recognized globally for its refined oil product transportation, operating a modern fleet of around 80 vessels.

TORM plc has announced a capital increase of 824,895 A-shares, totaling USD 8,248.95, following the delivery of the MR vessel Team Allegro. The shares were issued without pre-emption rights for existing shareholders due to the settlement of a USD 7.6 million loan note linked to the vessel’s acquisition. The new shares, priced at USD 9.2 each, are expected to be listed on Nasdaq Copenhagen by 27 July 2021 and will be subject to a 40-day lock-up period. Post-transaction, TORM's share capital stands at USD 809,643.52, comprising 80,964,350 A-shares.

TORM plc has increased its share capital by 730,057 A-shares, valued at USD 7,300.57, following the delivery of the MR vessel Team Leader. The capital increase, occurring without pre-emption rights for existing shareholders, is linked to a USD 6.7 million loan note. The new shares, priced at USD 9.2 each, will be locked for 40 days and offer full rights to dividends. Post-increase, TORM's share capital stands at USD 801,394.57 across 80,139,455 A-shares. These shares will be listed on Nasdaq Copenhagen on July 8, 2021.

TORM has executed a capital increase of 668,423 A-shares, raising USD 6,684.23, following the delivery of the MR vessel Team Voyager. This issuance of shares occurred without pre-emption rights for existing shareholders, linked to a settlement of a USD 6.2m loan note related to the vessel. Each new share has a nominal value of USD 0.01 and a subscription price of USD 9.2. The increased share capital will amount to USD 794,094 with 79,409,398 A-shares post-issuance, with new shares expected to trade on Nasdaq Copenhagen on June 16, 2021.

TORM plc has announced a capital increase of 695,768 A-shares, amounting to USD 6,957.68, following the delivery of the fifth vessel, Team Discoverer, from its recent acquisition. The shares were issued without pre-emption rights for existing shareholders at a subscription price of USD 9.2 per share. The total share capital now stands at USD 787,409.77 divided into 78,740,975 A-shares. The new shares will be listed on Nasdaq Copenhagen on 09 June 2021 and are subject to a 40-day lock-up period.

TORM has increased its share capital by issuing 12,405 A-shares due to the exercise of Restricted Share Units. The new shares were subscribed at DKK 43.4 each, totaling a nominal value of USD 124.05. These shares are ordinary, offer full rights including dividend entitlements, and will be listed on Nasdaq in Copenhagen on June 1, 2021. Following this capital increase, TORM's share capital stands at USD 780,452.07, divided into 78,045,207 A-shares, one B-share, and one C-share. Transfer restrictions may apply in certain jurisdictions.