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TORM plc announces Capital Reduction and Cancellation of Treasury Shares

1. TORM plc confirms a capital reduction of USD 180 million. 2. Court approved cancellation of 493,371 treasury A-shares. 3. Share capital now stands at USD 979,411.95 with voting structure updated. 4. Capital reduction has no impact on nominal share value or capital distribution. 5. Shareholders approved changes at the recent AGM.

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Why Bullish?

The capital reduction may enhance shareholder value and confidence. Similar historical actions, like share buybacks or reductions, have generally improved stock performance.

How important is it?

The article outlines a significant restructuring move that can lead to perceived value increase. The capital reduction and share cancellation are critical indicators of financial strategy.

Why Short Term?

The immediate effects are seen through changes in share structure, impacting market perception. Historically, announcements of capital returns tend to spike interest in the short term.

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TRMD ARTMHIMI
, /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.  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. 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. ContactMikael Bo Larsen, Head of Investor RelationsTel.: +45 5143 8002 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. Safe Harbor Statement as to the FutureMatters discussed in this release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are statements other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. Words such as, but not limited to, "expects," "anticipates," "intends," "plans," "believes," "estimates," "targets," "projects," "forecasts," "potential," "continue," "possible," "likely," "may," "could," "should" and similar expressions or phrases may identify forward-looking statements. The forward-looking statements in this release are based upon various assumptions, many of which are, in turn, based upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond our control, the Company cannot guarantee that it will achieve or accomplish these expectations, beliefs, or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, our future operating or financial results; changes in governmental rules and regulations or actions taken by regulatory authorities; inflationary pressure and central bank policies intended to combat overall inflation and rising interest rates and foreign exchange rates; general domestic and international political conditions or events, including "trade wars" and the war between Russia and Ukraine, the developments in the Middle East, including the war in Israel and the Gaza Strip, and the conflict regarding the Houthis' attacks in the Red Sea; international sanctions against Russian oil and oil products; changes in economic and competitive conditions affecting our business, including market fluctuations in charter rates and charterers' abilities to perform under existing time charters; changes in the supply and demand for vessels comparable to ours and the number of newbuildings under construction; the highly cyclical nature of the industry that we operate in; the loss of a large customer or significant business relationship; changes in worldwide oil production and consumption and storage; risks associated with any future vessel construction; our expectations regarding the availability of vessel acquisitions and our ability to complete acquisition transactions planned; availability of skilled crew members other employees and the related labor costs; work stoppages or other labor disruptions by our employees or the employees of other companies in related industries;  effects of new products and new technology in our industry;  new environmental regulations and restrictions; the impact of an interruption in or failure of our information technology and communications systems, including the impact of cyber-attacks, upon our ability to operate; potential conflicts of interest involving members of our Board of Directors and Senior Management; the failure of counterparties to fully perform their contracts with us; changes in credit risk with respect to our counterparties on contracts; adequacy of insurance coverage; our ability to obtain indemnities from customers; changes in laws, treaties or regulations; our incorporation under the laws of England and Wales and the different rights to relief that may be available compared to other countries, including the United States; government requisition of our vessels during a period of war or emergency; the arrest of our vessels by maritime claimants; any further changes in U.S. trade policy that could trigger retaliatory actions by the affected countries; the impact of the U.S. presidential and congressional election results affecting the economy, future government laws and regulations and trade policy matters, such as the imposition of tariffs and other import restrictions; potential disruption of shipping routes due to accidents, climate-related incidents, adverse weather and natural disasters, environmental factors, political events, public health threats, acts by terrorists or acts of piracy on ocean-going vessels; damage to storage and receiving facilities; potential liability from future litigation and potential costs due to environmental damage and vessel collisions; and the length and number of off-hire periods and dependence on third-party managers. In the light of these risks and uncertainties, undue reliance should not be placed on forward-looking statements contained in this release because they are statements about events that are not certain to occur as described or at all. These forward-looking statements are not guarantees of our future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to release publicly any revisions or updates to these forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Please see TORM's filings with the U.S. Securities and Exchange Commission for a more complete discussion of certain of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and the Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. This information was brought to you by Cision http://news.cision.com https://news.cision.com/torm-plc/r/torm-plc-announces-capital-reduction-and-cancellation-of-treasury-shares,c4154373 The following files are available for download: SOURCE Torm PLC WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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