Core Viewpoint - TORM plc has been informed that Hafnia Limited will acquire approximately 14.1 million A shares from Oaktree Capital Management, representing about 14.45% of TORM's issued share capital at a price of USD 22 per share, totaling approximately USD 311.43 million [1][2]. Group 1: Share Purchase Details - The share purchase is contingent upon entering a definitive agreement and fulfilling customary conditions, including regulatory approvals and the appointment of a new independent board chairman for TORM [2]. - TORM is not involved in the transaction and has no additional information regarding the share purchase [2]. Group 2: Company Overview - TORM is recognized as one of the leading carriers of refined oil products globally, operating a fleet of product tanker vessels with a strong focus on safety, environmental responsibility, and customer service [3]. - Founded in 1889, TORM conducts business worldwide and is listed on Nasdaq in Copenhagen and New York under the tickers TRMD A and TRMD [3].

Core Viewpoint - TORM reported strong second-quarter results despite global uncertainties, leading to an increase in full-year guidance for 2025 [1][11]. Financial Results - In Q2 2025, TORM generated time charter equivalent earnings (TCE) of USD 208.2 million, down from USD 325.9 million in Q2 2024, reflecting a decline of USD 117.7 million [5]. - Adjusted EBITDA for the same period was USD 129.0 million, compared to USD 251.1 million in Q2 2024, a decrease of USD 122.1 million [5]. - Net profit for Q2 2025 was USD 58.7 million, down from USD 194.2 million in Q2 2024, a decline of USD 135.5 million [5]. - Average TCE rates were USD 26,672 per day in Q2 2025, significantly lower than USD 42,057 per day in Q2 2024, a drop of USD 15,385 [3][5]. - Basic earnings per share (EPS) were USD 0.60, down from USD 2.08 in the same period last year [4][5]. Market Conditions - The tanker market faced complexities due to geopolitical developments and expanded sanctions, affecting trade volumes, particularly in routes impacted by the Red Sea disruption [2]. - Despite a rebound in product tanker ton-miles starting March 2025, trade volumes remained subdued, neutralizing earlier gains [2]. Vessel Transactions - TORM sold the 2008-built LR2 vessel TORM Mathilde and two 2008-built MR vessels, TORM Voyager and TORM Discoverer, with the latter delivered in July 2025 [6]. Financing - TORM secured financing commitments of up to USD 857 million to refinance existing loans and lease agreements for 22 vessels, enhancing capital flexibility [7]. Dividend Distribution - An interim dividend of USD 0.40 per share was approved for Q2 2025, totaling an expected payment of USD 39.2 million, representing 67% of net profit [9]. Financial Outlook - TORM increased its full-year 2025 guidance, expecting TCE earnings between USD 800 million and USD 950 million, up from the previous range of USD 700 million to USD 900 million [11]. - As of August 4, 2025, TORM had covered 56% of Q3 2025 earning days at an average rate of USD 30,617 per day [10].

HELLERUP, Denmark, May 19, 2025 /PRNewswire/ -- TORM plc (NASDAQ: TRMD) (NASDAQ: TRMD A) has been notified of the following transaction in TORM plc securities: Mikael Bo Larsen, Head of Investor Relations Tel.: +45 5143 8002 About TORM TORM is one of the world's leading carriers of refined oil products. TORM operates a fleet of product tanker vessels with a strong commitment to safety. environmental responsibility and customer service. TORM was founded in 1889 and conducts business worldwide. TORM's shares ...