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 (ticker: TRMD) will release its financial results for Q1 2021 on May 12, 2021. A conference call is scheduled for 9:00 am ET, where results will be discussed. Participants can dial in using +45 3272 0417 or +1 (646) 741 3167. A live webcast will also be available on TORM’s website. The call can be replayed until May 26, 2021. TORM operates a fleet of about 80 vessels, focusing on safety and environmental responsibility. The company warns that forward-looking statements may differ from actual results due to various market uncertainties.
TORM has announced a capital increase of USD 8,248.64 through the issuance of 824,864 A-shares following the delivery of the MR vessel Team Amorina. The new shares, priced at USD 9.2 each, were funded by a USD 7.6 million loan note. Existing shareholders have no pre-emption rights, and a majority of the new shares will be under a 40-day lock-up. After this increase, TORM's total share capital rises to USD 766,860.26 across 76,686,024 A-shares. The new shares are set to be listed on Nasdaq Copenhagen on April 22, 2021.
TORM plc has announced an increase in share capital by issuing 14,178 A-shares due to the exercise of Restricted Share Units. This capital increase occurred without pre-emption rights for current shareholders. Out of the new shares, 7,089 were subscribed for in cash at prices of DKK 43.4 and DKK 47.4 per A-share. The new shares will be listed on Nasdaq in Copenhagen on 20 April 2021, allowing holders to receive dividends and other rights. Following this increase, TORM's share capital totals USD 758,611.62.
TORM plc announced the successful passing of all resolutions at its Annual General Meeting held on April 14, 2021. Key highlights include eligible votes totaling 75,353,612 and a voting participation rate of 68.58%. The Company reported a solid EBITDA of USD 272m for 2020, with a shareholder distribution of USD 71m, primarily through dividends. Additionally, TORM committed to a 40% CO2 emission reduction by 2030 and took steps to renew its fleet, improving operational efficiency and financial performance.
TORM plc has announced a capital increase of 877,128 A-shares, amounting to USD 8,771.28, following the delivery of the MR vessel TEAM Corrido from its acquisition of eight tankers. The shares are issued without pre-emption rights for existing shareholders, priced at USD 9.2 per share. These ordinary shares will be listed on Nasdaq Copenhagen on April 14, 2021, providing holders with dividend rights. Following this issuance, TORM's total share capital is USD 758,469.84.
TORM plc has increased its share capital by 17,511 A-shares, resulting from the exercise of Restricted Share Units. The new A-shares were subscribed at DKK 43.4 per share, totaling a nominal value of USD 175.11. No pre-emption rights were granted to existing shareholders. Following this capital increase, TORM's share capital is now USD 749,698.56, comprising 74,969,854 A-shares. The new shares will be traded on Nasdaq Copenhagen starting April 7, 2021, and will carry rights to dividends and voting.
TORM plc has increased its share capital by issuing 58,271 A-shares following the exercise of Restricted Share Units, resulting in a capital increase of USD 582.71. The shares were subscribed at DKK 43.4 each, without pre-emption rights for existing shareholders. The new shares, effective for dividends and other rights, will trade on Nasdaq Copenhagen starting March 23, 2021. Post-issuance, TORM's capital totals USD 749,523.45 across 74,952,343 A-shares and additional shares with unique voting rights.
TORM plc announced a grant of 1,099,919 Restricted Share Units (RSUs) to certain employees as part of its long-term incentive program aimed at improving company performance and share price. Each RSU will vest over three years starting January 1, 2022, with an exercise price set at DKK 53.5, representing a 15% premium on the average share price. Executive Director Jacob Meldgaard is set to receive 255,200 RSUs. The theoretical market value of this RSU allocation is estimated at USD 3.0 million. The allocation will impact TORM's P&L with USD 1.7 million in 2021, USD 0.9 million in 2022, and USD 0.4 million in 2023.
TORM plc has increased its share capital by 31,054 A-shares, resulting from the exercise of Restricted Share Units. This capital increase was executed without pre-emption rights for existing shareholders, with 20,632 shares subscribed at DKK 43.4 and 10,422 shares at DKK 47.4 per A-share. Following this, the total share capital of TORM amounts to USD 748,940.74 divided into 74,894,072 A-shares. The new shares will be listed on Nasdaq in Copenhagen on 16 March 2021 and grant rights to dividends from the issuance date.
TORM plc has announced the complete proposals for its Annual General Meeting (AGM) scheduled for 14 April 2021. The company is a leading carrier of refined oil products, operating roughly 80 modern vessels worldwide. TORM's shares are traded on NASDAQ Copenhagen and NASDAQ New York under the ticker symbols TRMD A and TRMD. The press release includes forward-looking statements about potential risks affecting the business, such as market fluctuations, COVID-19 impacts, and operational costs.