TORM Expands Capital with New Vessel Delivery

Torm (TRMD) has released an update.

TORM plc has announced a share capital increase following the delivery of a third MR vessel, part of an eight-vessel acquisition. The increase includes 352,152 new shares linked to a USD 12.6 million loan note, with shares locked-up for 40 days but tradable outside the US under specific conditions. Following the capital boost, TORM’s total share capital now stands at USD 956,268.54, with new shares expected to list on Nasdaq Copenhagen imminently.

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