Torm increases share capital with new vessel and RSU exercises

Torm plc has increased its share capital by 2,395,426 shares, totaling $23,954.26, through two main actions. First, 748,569 shares were issued to settle a $17m allocated loan note for the delivery of a 2010-built LR2 vessel. These new shares are subject to a 40-day lock-up period, restricting resale in the United States but allowing transactions outside the US, including on Nasdaq Copenhagen.

Second, the company issued 1,646,857 A-shares from the exercise of Restricted Share Units (RSUs), with subscriptions at DKK 0.07 and DKK 140.2 per A-share. Following these increases, Torm's share capital now stands at $1,003,478.57, comprising 100,347,855 A-shares, one B-share, and one C-share, each with a nominal value of $0.01.

Additionally, the board of directors granted adjustment RSUs in the form of restricted stock options to employees and executive director Jacob Meldgaard, reflecting dividends paid since the original grant date under the 2023 Retention Program. These options have a strike price of one US cent and are not subject to further dividend adjustments.