TORM announces secondary public offering of its class A common shares by a selling shareholder


TORM announced the commencement of a secondary public offering of 6,896,552 of the Company’s Class A common shares by OCM Njord Holdings S.à r.l., a company indirectly owned by funds managed by Oaktree Capital Management, L.P. and its affiliates. The Selling Shareholder expects to grant the underwriter a 30-day option to purchase up to an additional 1,034,482 Class A common shares offered in this offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.

The Selling Shareholder beneficially owns approximately 54% of the Company’s Class A common shares prior to this offering. The Company is not selling any Class A common shares and will not receive any proceeds from the sale of the Company’s Class A common shares by the Selling Shareholder.

Citigroup Global Markets Inc. is acting as sole underwriter for the offering. The underwriter intends to offer the Company’s Class A common shares from time to time for sale in one or more transactions on Nasdaq or Nasdaq Copenhagen A/S, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. The offering will be made only by means of a prospectus supplement and accompanying base prospectus related to the offering, copies of which may be obtained, when available, from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717.

This company announcement does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein and there shall not be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A shelf registration statement relating to the offering of the Class A common stock was filed with the U.S. Securities and Exchange Commission and is effective.