TORM plc - TRMD STOCK NEWS

TORM plc has announced a capital increase of 7,089 A-shares, following the exercise of Restricted Share Units. The new shares, priced at DKK 43.4 each, are issued without pre-emption rights for existing shareholders. After the increase, TORM's total share capital stands at USD 748,630.20, with 74,863,018 A-shares. The new shares will be listed on Nasdaq Copenhagen on January 27, 2021, and provide dividend rights. TORM operates a large fleet of modern vessels, focusing on safety and environmental responsibility.

TORM plc has announced its financial calendar for 2021, outlining key dates for stakeholders. The Annual Report for 2020 will be released on March 1, 2021, followed by the deadline for shareholder submissions on March 3, 2021. The Annual General Meeting is scheduled for April 14, 2021. Additionally, the company will disclose its quarterly financial results on May 12, 2021, August 10, 2021, and November 3, 2021. TORM is one of the leading carriers of refined oil products, operating a fleet of approximately 80 vessels.

TORM plc has increased its share capital by issuing 3,333 A-shares due to the exercise of Restricted Share Units. The new shares, subscribed at DKK 43.4 each, will not offer pre-emption rights to existing shareholders. Following this capital increase, TORM's total share capital is now USD 748,559.31, distributed over 74,855,929 A-shares, one B-share, and one C-share. The new shares will be admitted for trading on Nasdaq in Copenhagen on December 22, 2020, and entitle holders to dividends and other shareholder rights.

TORM plc has increased its share capital by issuing 24,811 A-shares, resulting from the exercise of Restricted Share Units. The new shares, priced at DKK 43.4 each, will not have pre-emption rights for existing shareholders. Following this capital increase, TORM's total share capital is now USD 748,525.98, divided into 74,852,596 A-shares and additional B and C shares. The new shares are expected to be listed on Nasdaq Copenhagen on December 7, 2020, and carry rights to dividends. Transfer restrictions may apply outside of Denmark.

TORM reported a positive financial result for Q3 2020, marking its fourth consecutive quarter of profitability. The company achieved TCE rates of USD 16,762/day and an EBITDA of USD 43.4 million, impacted by an USD 8 million provision related to cargo claims. Net profit before tax was USD 1 million, with EPS at USD 0.01. Notably, cash flow from operations was strong at USD 52.5 million. TORM's liquidity stood at USD 288.7 million while net interest-bearing debt was USD 713.1 million. The firm continues to adapt amid the pandemic, maintaining operations and focusing on the well-being of its crew.

TORM plc (ticker: TRMD) will announce its Q3 2020 financial results on Wednesday, 11 November 2020. A conference call will be held at 9:00 am ET for investors, with dialing details provided for participation. The presentation is available for download on TORM's investor website, which will also host a live webcast of the event. A telephonic replay will be accessible until 25 November 2020. TORM, a leading carrier of refined oil products, operates approximately 80 vessels globally, committed to safety and environmental responsibility.

TORM plc disclosed a significant transaction involving major holdings on September 15, 2020. Oaktree Capital Group Holdings GP, LLC reported a crossing of the voting rights threshold, holding 71.17% of voting rights through its subsidiary, OCM Njord Holdings S.à.r.l., which manages 53,252,767 A-shares. This marks an increase from the previous position of 70.32%. The transaction is part of Oaktree's strategy to consolidate its influence in TORM plc, a non-UK issuer.

TORM plc has received notification of a significant change in major holdings, with Oaktree Capital Group Holdings GP, LLC and its associated entity, OCM Njord Holdings S.à.r.l., increasing their voting rights to 70.32%. This change was acknowledged on September 11, 2020, after the threshold was crossed on September 9, 2020. The total number of voting rights now stands at 52,567,981, compared to the previous holding of 69.16%. The acquisition highlights the influence Oaktree Capital now has over TORM's decision-making processes.

TORM plc announced a significant transaction involving its securities, as notified to the FCA. DW Partners, LP reported a change in holdings, crossing a threshold with a resulting ownership of 2.85% in voting rights attached to shares as of August 26, 2020. This new position reflects a decrease from the previous 3.92%. The total number of voting rights in circulation is 74,760,653, with the notification completed on August 27, 2020.