TORM plc has raised its share capital by 696,429 A-shares (equivalent to USD 6,964.29) following the delivery of the first of four MR product tanker vessels acquired in Q3 2023. The capital increase, totaling USD 28.00 per A-share, is a result of the settlement of a USD 19.5 million allocated loan note associated with each vessel's delivery. The newly issued shares, without pre-emption rights, are subject to a 40-day lock-up period, during which they may be resold outside the United States. The shares are expected to be admitted to trading on Nasdaq Copenhagen on December 5, 2023. After the increase, TORM's share capital stands at USD 855,564.72, divided into 85,564,970 A-shares, one B-share, and one C-share.

SOURCE:GOOGLE