Toro an international energy transportation services company, announced that, in relation to the previously announced spin-off of its wholly owned subsidiary, Robin Energy, the record date has been set to April 7, 2025, and the Company expects to complete the distribution of Robin common shares on or about April 14, 2025. In the spin-off, Toro shareholders will receive one common share of Robin for every eight Toro common shares held at the close of business on the Record Date.
Additional information regarding Robin and the proposed spin-off transaction may be found in Robin’s amended registration statement on Form 20-F filed with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934. The proposed distribution and spin-off remain subject to, among other things, the registration statement on Form 20-F being declared effective and the approval of the listing of Robin’s common shares on the Nasdaq Capital Market. There can be no assurance that the distribution or the spinoff will occur or, if they do occur, of their terms or timing.