TORM: Capital increase in connection with delivery of 2016-built MR vessel

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With reference to Company Announcement no. 23 dated 09 November 2023 regarding TORM plc Q3 2023 results where TORM announced the acquisition of four 2015-2016 built MR product tanker vessels, TORM plc (“TORM”) has increased its share capital by 660,714 A-shares (corresponding to USD 6,607.14) as a result of the delivery of the second of the four aforementioned vessels.

The capital increase is carried out without any pre-emption rights for existing shareholders or others. The new shares relate to the settlement of a USD 18.5m allocated loan note issued in connection with each vessel delivery and correspond to USD 28.00 per A-share with a nominal value of USD 0.01 each. All of the issued shares will be subject to a lock-up for a period of 40 days commencing on the date such shares are issued (the “Lock-up Period”); provided that during the Lock-up Period, the newly issued shares may be resold outside of the United States in transactions pursuant to and in compliance with Regulation S of the Securities Act of 1933, including on Nasdaq Copenhagen, but may not be resold in the United States.

The new shares (i) are ordinary shares without any special rights and are negotiable instruments, (ii) give right to dividends and other rights in relation to TORM as of the date of issuance and (iii) are expected to be admitted to trading and official listing on Nasdaq Copenhagen on 21 December 2023.

After the capital increase, TORM’s share capital amounts to USD 862,256.86 divided into 86,225,684 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 86,225,684 votes are attached to the A-shares. The B-share and the C-share have specific voting rights.

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