Torm Plc Stock Price, News & Analysis

TORM (TRMD) has acquired the remaining 25% stake in ME Production (MEP), a Danish industrial engineering company specializing in green maritime equipment, gaining full ownership after initially acquiring 75% in 2022. The companies have collaborated since 2018, with MEP installing over 70 exhaust gas cleaning systems on TORM vessels. MEP will maintain its independence and headquarters in Frederikshavn, Denmark. Through their partnership, TORM achieved a 40% reduction in CO₂ intensity compared to 2008, surpassing IMO's 2030 target by six years. MEP's key innovations include heat pump systems for reducing energy use in ships and industrial facilities. As sole owner, TORM will provide enhanced strategic support and investment to accelerate MEP's growth as an innovation center for clean maritime technologies.

TORM plc (TRMD) has announced the completion of two significant corporate actions following approval from the High Court of Justice in England and Wales. The company executed a USD 180 million capital reduction from its share premium account and cancelled 493,371 A-shares previously held as Treasury Shares. Following these actions, TORM's share capital now stands at USD 979,411.95, consisting of 97,941,193 A-shares, one B-share, and one C-share, all with a nominal value of USD 0.01 each. The capital reduction does not involve any distribution or payment of capital and does not change the nominal value of shares. These corporate actions were previously approved by shareholders at the Annual General Meeting held on April 16, 2025.

TORM plc (NASDAQ: TRMD) has announced a capital increase through the issuance of 151,581 A-shares at a nominal value of USD 1,515.81. This increase results from the exercise of Restricted Share Units as part of the company's incentive program. The new shares were subscribed for in cash at DKK 0.08 per A-share.

Following the capital increase, TORM's total share capital now stands at USD 984,345.66, consisting of 98,434,564 A-shares, one B-share, and one C-share, each with a nominal value of USD 0.01. The A-shares carry a total of 98,434,564 votes, while the B and C shares have specific voting rights. The new shares are expected to be listed on Nasdaq Copenhagen soon.

TORM plc (NASDAQ: TRMD) has reported an insider transaction involving CEO and Executive Director Jacob Balslev Meldgaard. The executive exercised 33,559 restricted share units at a price of DKK 0.08 per share, totaling DKK 2,684.72. The transaction was executed on May 19, 2025, outside a trading venue.

TORM is a leading carrier of refined oil products, operating a fleet of product tanker vessels with a focus on safety and environmental responsibility. The company, founded in 1889, has its shares listed on both Nasdaq Copenhagen and Nasdaq New York.

TORM plc (NASDAQ: TRMD) has announced a capital increase through the issuance of 18,769 A-shares, with a nominal value of USD 187.69, following the exercise of Restricted Share Units as part of its incentive program. The new shares were subscribed for in cash at DKK 0.08 per A-share.

The new ordinary shares will carry standard rights, including dividend eligibility from the issuance date, and are expected to be listed on Nasdaq Copenhagen. Following this capital increase, TORM's total share capital stands at USD 982,829.85, consisting of 98,282,983 A-shares, one B-share, and one C-share, each with a USD 0.01 par value. The A-shares carry 98,282,983 votes, while the B and C shares maintain specific voting rights.

TORM plc (TRMD) held its Annual General Meeting on April 16, 2025, where all proposed resolutions were successfully passed. The meeting saw strong shareholder participation with 62.04% of eligible votes cast for general resolutions and 91.71% for director appointments.

Key approvals included: the 2024 Annual Report (92.63% in favor), Directors' Remuneration Report (94.21% in favor), and reappointment of Ernst & Young LLP as auditor (99.05% in favor). Notable governance decisions included the reappointment of board members, with Executive Director Jacob Meldgaard receiving 99.88% approval.

Shareholders also approved two significant special resolutions: a reduction in share premium account by USD 180 million (98.95% in favor) and the cancellation of Treasury Shares (99.05% in favor).

TORM plc has announced adjustments to its Long Term Incentive Program and Retention Program. Following the exercise of 365,096 original RSUs, the Board of Directors has granted adjustment RSUs to certain employees to account for dividend payments since the initial grant date. A total of 148,027 RSUs will be issued as restricted stock options with a strike price of one U.S. cent.

Additionally, Executive Director Jacob Meldgaard will receive 33,559 adjustment RSUs following his exercise of 85,067 original RSUs granted in 2022. These adjustment RSUs are designed to reflect dividend payments and will maintain the same exercise window as the original grants.

TORM plc (NASDAQ: TRMD) has announced a capital increase through the issuance of 12,406 A-shares, corresponding to a nominal value of USD 124.06. The new shares were subscribed for in cash at DKK 0.08 per A-share as part of the company's incentive program through Restricted Share Units exercise.

Following this capital increase, TORM's total share capital now amounts to USD 982,642.16, consisting of 98,264,214 A-shares (USD 0.01 each), one B-share (USD 0.01), and one C-share (USD 0.01). The A-shares carry a total of 98,264,214 votes, while the B and C shares have specific voting rights. The new shares are expected to be listed on Nasdaq Copenhagen.

TORM plc disclosed a notification regarding transactions in company securities by directors, executive officers, and their closely associated persons. The announcement was made from Hellerup, Denmark on March 24, 2025. For inquiries, stakeholders can contact Mikael Bo Larsen, Head of Investor Relations.