TORM Resets Governance Structure as Oaktree Stake Falls Below One-Third

The latest update is out from Torm ( (TRMD) ).

On 6 January 2026, TORM plc announced that its Board had determined the so‑called threshold date—defined in the articles of association as the first time Oaktree Capital Management and its affiliates cease to beneficially own at least one-third of TORM’s issued shares—had occurred, following Oaktree’s reduction in ownership after Hafnia Limited’s recent share acquisition. As a result of Oaktree’s stake falling below one-third, the position and authority of the B-Director have been extinguished, leading to the departure of Deputy Chairman and Senior Independent Director David Weinstein from the Board as of that date, though he will continue to serve the company as a Special Advisor. The lapse of Article 137 limitations means certain restrictions on TORM’s corporate actions have fallen away, while the company is in the process of redeeming and cancelling its B- and C-shares, with the special C-share voting right terminated from the threshold date and only one B-share retaining a single vote until redemption, after which TORM’s share capital will consist solely of 101,332,707 A-shares of USD 0.01 each.

The most recent analyst rating on (TRMD) stock is a Sell with a DKK89.00 price target. To see the full list of analyst forecasts on Torm stock, see the TRMD Stock Forecast page.

More about Torm

TORM plc is one of the world’s leading carriers of refined oil products, operating a global fleet of product tankers with a focus on safety, environmental responsibility and customer service. Founded in 1889, the company conducts business worldwide and its shares are listed on Nasdaq Copenhagen and Nasdaq New York under the tickers TRMD A and TRMD.

Average Trading Volume: 202,394

Current Market Cap: DKK12.99B

See more data about TRMD stock on TipRanks’ Stock Analysis page.