Change in Share Capital and Voting Rights of TORM A/S
COPENHAGEN, Denmark, Nov. 30, 2012 (GLOBE NEWSWIRE) -- As stated in
announcement no. 32 and 33 dated 5 November 2012 the Company's share capital
was decreased on 5 November 2012 by transfer to a special reserve fund.
Subsequently, the Company increased the share capital by issuance of new
shares. Both transactions were carried out as part of the completion of the
restructuring pursuant to the restructuring agreement entered into on 2
October 2012 (see announcement no. 31 dated 2 October 2012).
Pursuant to section 6 of Executive Order no. 657 of 22 June 2012 on Issuer's
Disclosure Obligations, it is hereby announced that the total nominal value of
the Company's share capital as at today amounts to DKK 7,280,000 divided into
shares of DKK 0.01 each, corresponding to a total of 728,000,000 shares and
Contact TORM A/S Tuborg Havnevej 18
Jacob Meldgaard, CEO, tel.: +45 3917 9200 DK-2900 Hellerup, Denmark
Roland M. Andersen, CFO, tel.: +45 3917 9200 Tel.: +45 3917 9200 / Fax: +45
C. Soegaard-Christensen, IR, tel.: +45 3076 www.torm.com
TORM is one of the world's leading carriers of refined oil products as well as
a significant player in the dry bulk market. The Company operates a fleet of
approximately 120 modern vessels in cooperation with other respected shipping
companies sharing TORM's commitment to safety, environmental responsibility
and customer service.
TORM was founded in 1889. The Company conducts business worldwide and is
headquartered in Copenhagen, Denmark. TORM's shares are listed on NASDAQ OMX
Copenhagen (ticker: TORM) and on NASDAQ in New York (ticker: TRMD). For
further information, please visit www.torm.com.
Safe Harbor statements as to the future
Matters discussed in this release may constitute forward-looking statements.
Forward-looking statements reflect our current views with respect to future
events and financial performance and may include statements concerning plans,
objectives, goals, strategies, future events or performance, and underlying
assumptions and statements other than statements of historical facts. The
forward-looking statements in this release are based upon various assumptions,
many of which are based, in turn, upon further assumptions, including without
limitation, management's examination of historical operating trends, data
contained in our records and other data available from third parties. Although
TORM believes that these assumptions were reasonable when made, because these
assumptions are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are beyond our
control, TORM cannot guarantee that it will achieve or accomplish these
expectations, beliefs or projections.
Important factors that, in our view, could cause actual results to differ
materially from those discussed in the forward-looking statements include the
strength of the world economy and currencies, changes in charter hire rates
and vessel values, changes in demand for "tonne miles" of oil carried by oil
tankers, the effect of changes in OPEC's petroleum production levels and
worldwide oil consumption and storage, changes in demand that may affect
attitudes of time charterers to scheduled and unscheduled dry-docking, changes
in TORM's operating expenses, including bunker prices, dry-docking and
insurance costs, changes in the regulation of shipping operations, including
requirements for double hull tankers or actions taken by regulatory
authorities, potential liability from pending or future litigation, domestic
and international political conditions, potential disruption of shipping
routes due to accidents and political events or acts by terrorists.
Risks and uncertainties are further described in reports filed by TORM with
the US Securities and Exchange Commission, including the TORM Annual Report on
Form 20-F and its reports on Form 6-K.
Forward-looking statements are based on management's current evaluation, and
TORM is only under an obligation to update and change the listed expectations
to the extent required by law.
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