TORM plc capital increase in connection with delivery of one LR2 vessel and exercise of Restricted Share Units as part of TORM's incentive program

Core Points - TORM plc has increased its share capital by a total of 2,395,426 shares, amounting to USD 23,954.26, due to the delivery of one LR2 vessel and the exercise of Restricted Share Units (RSUs) as part of its incentive program [1][4] - The share capital increase includes 748,569 shares related to the delivery of a 2010-built LR2 vessel, corresponding to USD 7,485.69, and a USD 17.0 million allocated loan note [2][4] - A total of 1,646,857 A-shares were issued as a result of RSU exercises, with 1,558,790 shares subscribed at DKK 0.07 and 88,067 shares at DKK 140.2 [4][6] - The newly issued shares will be subject to a 40-day lock-up period, during which they can only be resold outside the United States [3][4] - After the capital increase, TORM's total share capital is USD 1,003,478.57, divided into 100,347,855 A-shares, one B-share, and one C-share [6] - The Board of Directors has granted adjustment RSUs to certain employees, totaling 840,874 RSUs, to reflect dividend payments since the original grant date [7][8] Company Overview - TORM is a leading carrier of refined oil products, operating a fleet of product tanker vessels with a commitment to safety and environmental responsibility [9] - The company was founded in 1889 and is listed on Nasdaq in Copenhagen and New York [9]