Business
TORM plc announces Capital Reduction and Cancellation of Treasury Shares
TORM plc (Nasdaq: TRMD) (Nasdaq: TRMD A) (the Company) is pleased to announce that pursuant to an order issued by the High Court of Justice in England and Wales (the Court) dated 13 May 2025 confirming the reduction of the share premium account of TORM plc in the sum of USD180m (the Capital Reduction) (the Order), the Order and a statement of capital approved by the Court were duly registered by the Registrar of Companies on 15 May 2025. As part of the Order, the Court also approved the cancella
About this update from Torm Plc Class A
[{"type":"text","content":"HELLERUP, Denmark, May 22, 2025 /PRNewswire/ -- TORM plc (Nasdaq: TRMD) (Nasdaq: TRMD A) (the Company) is pleased to announce that pursuant to an order issued by the High Court of Justice in England and Wales (the Court) dated 13 May 2025 confirming the reduction of the share premium account of TORM plc in the sum of USD180m (the Capital Reduction) (the Order), the Order and a statement of capital approved by the Court were duly registered by the Registrar of Companies on 15 May 2025. As part of the Order, the Court also approved the cancellation of 493,371 A-shares previously held as Treasury Shares (the Cancellation). Accordingly, following the registration of the Order at the Registrar of Companies, the Capital Reduction and the Cancellation have now become effective.","length":781,"tagName":"p"},{"type":"text","content":"Details of the Capital Reduction and the Cancellation were set out in the circular containing notice of the Company's Annual General Meeting held on 16 April 2025 (the AGM) and the Capital Reduction and the Cancellation were approved by shareholders of the Company at the AGM. The Capital Reduction does not involve any distribution or payment of capital by the Company or any change in the nominal value of the Company's shares.","length":437,"tagName":"p"},{"type":"text","content":"As a result of the Cancellation, TORM's share capital now amounts to USD 979,411.95 divided into 97,941,193 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 97,941,193 votes are attached to the A-shares. The B-share and the C-share have specific voting rights.","length":306,"tagName":"p"},{"type":"text","content":"ContactMikael Bo Larsen, Head of Investor RelationsTel.: +45 5143 8002","length":72,"tagName":"p"},{"type":"text","content":"About TORMTORM is one of the world's leading carriers of refined oil products. TORM operates a fleet of product tanker vessels with a strong commitment to safety. environmental responsibility and customer service. TORM was founded in 1889 and conducts business worldwide. TORM's shares are listed on Nasdaq in Copenhagen and on Nasdaq in New York (ticker: TRMD A and TRMD. ISIN: GB00BZ3CNK81). For further information, please visit www.torm.com.","length":454,"tagName":"p"},{"type":"text","content":"Safe Harbor Statement as to the FutureMatter...