TORM plc - TRMD STOCK NEWS

TORM plc has raised its share capital by issuing 106,121 A-shares following the exercise of Restricted Share Units. Of these, 81,310 shares were subscribed at DKK 47.4 each, while 24,811 shares were subscribed at DKK 43.4 each. The new ordinary shares, with a nominal value of USD 0.01, will be eligible for dividends and other rights from the issuance date and are expected to be listed on Nasdaq Copenhagen on November 23, 2021. Following this increase, TORM’s total share capital is USD 812,137.77.

The third quarter of 2021 presented significant challenges for TORM due to restricted crude supply leading to historically low product tanker freight rates. TORM reported an EBITDA of USD 30.4m, a drop from USD 43.4m in Q3 2020, and a loss before tax of USD -14.1m compared to a profit of USD 1.0m in the previous year. TCE rates also declined, averaging USD/day 12,854 versus USD/day 16,762 in 2020. Despite these challenges, TORM maintained operational efficiency and liquidity, reporting cash flow from operations of USD 12.0m and available liquidity of USD 185.5m as of September 30, 2021.

TORM plc (ticker: TRMD) will release its Q3 2021 financial results on November 10, 2021, with a live webcast presentation starting at 09:00 AM Eastern Time. Interested participants can join the conference call by dialing +45 3271 4988 or +1 (760) 294 1674 for US connections. A replay of the conference call will be accessible on TORM's website until March 1, 2022. TORM, a leading carrier of refined oil products, operates a fleet of approximately 80 vessels, emphasizing safety and environmental responsibility.

TORM plc announces that OCM Njord Holdings S.à.r.l. holds 53,812,989 shares, equating to 66.35% of TORM's total share capital and 93.67% of voting rights. This includes 53,812,988 A-shares and one C-share with special voting rights. TORM, a leading carrier of refined oil products, operates a fleet of approximately 80 modern vessels and is listed on Nasdaq in Copenhagen and New York (ticker: TRMD).

TORM plc announced a capital increase of 54,905 A-shares, resulting from the exercise of Restricted Share Units. The new shares, priced at DKK 43.4 each, have a nominal value of USD 0.01 and will not offer pre-emption rights to existing shareholders. Following this issuance, TORM's share capital rises to USD 811,076.56, comprising 81,107,654 A-shares. The shares are expected to be listed on Nasdaq Copenhagen on August 27, 2021, and provide rights to dividends. TORM operates a fleet of about 80 vessels, focused on transporting refined oil products worldwide.

TORM plc has increased its share capital by 88,399 A-shares, equating to a nominal value of USD 883.99, due to the exercise of Restricted Share Units. New shares were issued at DKK 43.4 each without pre-emption rights for existing shareholders. TORM's total share capital now stands at USD 810,527.51, comprising 81,052,749 A-shares. The new shares are set to be listed on Nasdaq in Copenhagen on 20 August 2021. These shares carry rights to dividends and votes, with total voting rights attached to A-shares amounting to 81,052,749.

TORM reported a Q2 2021 EBITDA of USD 44.7m and a profit before tax of USD 2.4m, a decline from USD 119.0m and USD 71.4m respectively in the same period of 2020. TCE rates also decreased significantly from USD/day 25,274 to USD/day 14,591. Despite a USD 81m increase in vessel market values, the overall product tanker market remains weak due to ongoing impacts from COVID-19. TORM's cash flow from operating activities was USD 13.4m, down from USD 113.3m in Q2 2020. The company had an available liquidity of USD 267.4m as of June 30, 2021.

TORM plc (ticker: TRMD) is set to release its financial results for Q2 2021 and the first half of the year on August 10, 2021. The results will be discussed in a conference call scheduled for 09:00 am ET, where participants can dial in at least ten minutes early using the provided conference ID. A live webcast will also be available on TORM’s website, along with a replay option until August 24, 2021. TORM is recognized globally for its refined oil product transportation, operating a modern fleet of around 80 vessels.

TORM plc has announced a capital increase of 824,895 A-shares, totaling USD 8,248.95, following the delivery of the MR vessel Team Allegro. The shares were issued without pre-emption rights for existing shareholders due to the settlement of a USD 7.6 million loan note linked to the vessel’s acquisition. The new shares, priced at USD 9.2 each, are expected to be listed on Nasdaq Copenhagen by 27 July 2021 and will be subject to a 40-day lock-up period. Post-transaction, TORM's share capital stands at USD 809,643.52, comprising 80,964,350 A-shares.