Capital increase in TORM in connection with delivery of vessel

capital increase in torm in connection with delivery of vessel

Sumary of Capital increase in TORM in connection with delivery of vessel:

  • 03 dated 01 March 2021 regarding the acquisition of eight 2007-2012 built MR product tanker vessels from TEAM Tankers Deep Sea Ltd, TORM plc (“TORM”) has increased its share capital by 877,128 A-shares (corresponding to USD 8,771.28) as a result of the delivery of the first vessel of the transaction, the MR vessel TEAM Corrido..
  • The new shares have been subscribed for due to the settlement of a USD 8.1m allocated loan note issued in connection with the vessel delivery and correspond to USD 9.2 per A-share with a nominal value of USD 0.01 each..
  • The Company operates a fleet of approximately 80 modern vessels with a strong commitment to safety, environmental responsibility and customer service..
  • 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 examination of historical operating trends, data contained in our records and other data available from third parties..
  • Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of the world economy and currencies, general market conditions, including fluctuations in charter hire rates and vessel values, the duration and severity of the COVID-19, including its impact on the demand for petroleum products and the seaborne transportation thereof, the operations of our customers and our business in general, changes in demand for “ton-miles”.
  • of oil carried by oil tankers and changes in demand for tanker vessel capacity, the effect of changes in OPEC 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 operating expenses, including bunker prices, dry-docking and insurance costs, changes in the regulation of shipping operations, including 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, political events including “trade wars,”…

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