With reference to company announcement no. 14 dated 16 September 2014 regarding the ongoing restructuring process, TORM can inform that the Company has received a proposal on a specific transaction from a group of the current lenders, representing more than half of TORM’s ship financing, and Oaktree Capital Management.
TORM’s Board of Directors has initiated discussions with the relevant stakeholders to evaluate the proposed deal and its potential implementation.
At the current stage, it is not possible to predict the outcome of the evaluation or the time horizon for a potential deal.
Further announcements will be made at the appropriate time.
Contact TORM A/S Flemming Ipsen, Chairman, tel.: +45 3917 9200 Jacob Meldgaard, CEO, tel.: +45 3917 9200 C. Søgaard-Christensen, IR, tel.: +45 3076 1288 |
Tuborg Havnevej 18 DK-2900 Hellerup, Denmark Tel.: +45 3917 9200 / Fax: +45 3917 9393 www.torm.com |
||
About TORM TORM is one of the world’s leading carriers of refined oil products as well as a player in the dry bulk market. The Company operates a fleet of approximately 90 modern vessels with a strong commitment to safety, environmental responsibility and customer service. TORM was founded in 1889 and celebrated its 125 year anniversary earlier this year. The Company conducts business worldwide and is headquartered in Copenhagen, Denmark. TORM’s shares are listed on NASDAQ OMX Copenhagen (ticker: TORM). For further information, please visit www.torm.com. |
|||
Safe Harbor statements as to the future Matters discussed in this release may constitute forward-looking statements. 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’s examination of historical operating trends, data contained in our records and other data available from third parties. Although TORM believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, TORM cannot guarantee that it will achieve or accomplish these expectations, beliefs or projections.
|
|||