Results from TORM's Extraordinary General Meeting on 9 January 2013

Results from TORM's Extraordinary General Meeting on 9 January 2013

COPENHAGEN, Denmark, Jan. 9, 2013 (GLOBE NEWSWIRE) -- At the Extraordinary
General Meeting the following took place:

  oThe Board of Directors' proposal to delete the authorizations in Section
    2.3 to 2.14 of the Articles of Association in their entirety as a
    consequence of the restructuring agreement was approved, cf. item 2.a of
    the agenda.
  oThe Board of Directors' proposal to amend Section 5.6 of the Articles of
    Association as a result of the name change of the Danish Business
    Authority was approved, cf. item 2.b of the agenda.
  oThe Board of Directors' proposal to amend Section 10.2 of the Articles of
    Association in order to establish certain minority protection rights in
    connection with an increase of the share capital was approved, cf. item
    2.c of the agenda. The additional proposal that only the same qualified
    majority vote can change the new items (i) and (ii) of the amended Section
    10.2 was also approved, cf. item 2.c of the agenda.
  oThe Board of Directors' proposal to amend Section 10.3 of the Articles of
    Association, on special quorum and voting requirements, as a consequence
    of proposal 2.c, was approved, cf. item 2.d of the agenda.
  oThe Board of Directors' proposal to amend Section 10.5 of the Articles of
    Association, for qualified approval requirements for decisions at a
    subsequent general meeting where a quorum requirement has not been met at
    the first general meeting at which the proposal was for treatment, as a
    consequence of proposal 2.c was approved, cf. item 2.e of the agenda.
  oThe Board of Directors' proposal to amend Section 12.2 of the Articles of
    Association to change the election period for members of the Board of
    Directors was approved, cf. item 2.f of the agenda.
  oMr. Olivier Dubois, Mr. Alexander Green, Mr. Flemming Ipsen, and Mr. Jon
    Syvertsen were elected as new members of the Board of Directors in
    accordance with Section 12.1 and 12.2 of the Articles of Association, cf.
    item 3 of the agenda. For information about the above mentioned persons'
    managerial positions see Appendix 2, cf. Section 120, paragraph 3 of the
    Companies Act. Mr. N.E. Nielsen, Mr. Christian Frigast, and Mr. Jesper
    Jarlbaek had prior to the Extraordinary General Meeting informed the
    Company that they offered their mandates as members of the Board of
    Directors, cf. item 3 of the agenda.

At a Board meeting held immediately after the Extraordinary General Meeting,
the Board of Directors appointed Mr. Fleming Ipsen Chairman and Mr. Olivier
Dubois Deputy Chairman. Accordingly, the Board of Directors is composed as
follows:

  oFleming Ipsen (Chairman)
  oOlivier Dubois (Deputy Chairman)
  oAlexander Green
  oJon Syvertsen
  oKari Millum Gardarnar (elected by the employees)
  oRasmus Johannes Hoffmann (elected by the employees)

Contact TORM A/S
Jacob Meldgaard, CEO, tel.: +45 3917 9200
Roland M. Andersen, CFO, tel.: +45 3917 9200
C. Soegaard-Christensen, IR, tel.: +45 3076 1288

Tuborg Havnevej 18
DK-2900 Hellerup, Denmark
Tel.: +45 3917 9200 / Fax: +45 3917 9393
www.torm.com

About TORM

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 runs a fleet of
approximately 110 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

About TORM

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 runs a fleet of
approximately 110 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
conclusion of definitive waiver documents with our lenders, 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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