TORM Expands Capital with New Share Issuance

Torm (TRMD) has released an update.

TORM plc has announced a capital increase with the issuance of 364,874 new shares following the delivery of one MR vessel and the exercise of Restricted Share Units from their incentive program. This move comes as part of their previously declared acquisition of eight second-hand MR vessels and is intended to facilitate the settlement of an allocated loan note. The newly issued shares are expected to be listed on Nasdaq Copenhagen and will be subject to a 40-day lock-up period, although they may be traded outside the United States in compliance with Regulation S.

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