-------------------------------------------------------------------------------- | | 28. april 2010 ANNOUNCEMENT NO. 5 - 2010 | | | | | | Annual General Meeting in TORM A/S on 28 April 2010 | | | At the Annual General Meeting the following took place: | | | The Annual Report 2009 was approved, cf. the item 2 of the | | | agenda. | | | The proposal that the result for the year be carried forward | | | was approved, cf. item 3 of the agenda. | | | Nicos Zouvelos was re-elected as board member for a 4-year | | | period, cf. item 4 of the agenda. | | | Deloitte Statsautoriseret Revisionsaktieselskab was | | | re-appointed as the Company's auditor, cf. item 5 of the | | | agenda. | | | The Board of Directors' proposal to amend the Articles of | | | Association, primarily as a consequence of the new Danish | | | Companies Act, was approved, cf. items 6a - 6b and items 6d - | | | 6o of the agenda. | | | The Board of Directors' proposal that it be authorised to | | | issue convertible debt instruments for a total amount of up | | | to DKK 700,000,000 and to effect the capital increase | | | relating thereto by up to a total nominal amount of DKK | | | 50,000,000 new shares by the inclusion of a new Article 2.6 | | | in the Articles of Association was approved, cf. item 6c of | | | the agenda. | | | The Board of Directors' proposal to renew its authorisation | | | to let the company acquire own shares in the period until the | | | next ordinary general meeting within 10 per cent of the | | | issued share capital was approved, cf. item 6p of the agenda. | | | The Board of Directors' proposal that it be authorised to | | | apply for registration with the Danish Commerce and Companies | | | Agency, the Danish Financial Supervisory Authority, NASDAQ | | | OMX Copenhagen A/S or any other public authority was | | | approved, cf. item 6q of the agenda. | | | At a Board meeting held immediately after the Annual General | | | Meeting, the Board of Directors appointed Mr N. E. Nielsen | | | Chairman and Mr Christian Frigast Deputy Chairman. | | | Accordingly, the Board of Directors is composed as follows: | | | N. E. Nielsen (Chairman) | | | Christian Frigast (Deputy Chairman) | | | Bo Jagd | | | Jesper Jarlbæk | | | Stefanos-Niko Zouvelos (Nicos Zouvelos) | | | Gavriil Panayotides (Gabriel Panayotides) | | | Angelos Papoulias | | | Niels Peter Abildgaard Nielsen (elected by the employees) | | | Lennart Arnold Johan Arrias (elected by the employees) | | | Margrethe Bligaard (elected by the employees) | | Contact: | N. E. Nielsen, Chairman of the Board, +45 72 27 00 00 | -------------------------------------------------------------------------------- | About | TORM is one of the world's leading carriers of refined oil | | TORM | products as well as a significant participant in the dry bulk | | | market. The Company runs a fleet of approximately 140 modern | | | vessels, principally through a pooling cooperation with other | | | respected shipping companies who share TORM's commitment to | | | safety, environmental responsibility and customer service. | | | TORM was founded in 1889. The Company conducts business worldwide | | | and is headquartered in Copenhagen, Denmark. TORM's shares are | | | listed on the NASDAQ OMX Copenhagen (ticker: TORM) and on NASDAQ | | | in New York (ticker: TRMD). For further information, please visit | | | www.torm.com. | -------------------------------------------------------------------------------- | Safe | Matters discussed in this release may constitute forward-looking | | Harbor | statements. Forward-looking statements reflect our current views | | Forward | with respect to future events and financial performance and may | | Looking | include statements concerning plans, objectives, goals, | | Statemen | strategies, future events or performance, and underlying | | ts | assumptions and other statements, which are 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 assure you that it will achieve or | | | accomplish these expectations, beliefs or projections. | | | 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 world economies and | | | currencies, changes in charter hire rates and vessel values, | | | changes in demand for “tonne miles” of oil carried by oil | | | tankers, the effect of changes in OPEC's 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's operating | | | expenses, including bunker prices, dry-docking and insurance | | | costs, changes in governmental rules and regulations including | | | requirements for double hull tankers or 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 and political events or acts by terrorists. Risks and | | | uncertainties are further described in reports filed by TORM with | | | the US Securities and Exchange Commission, including the TORM | | | Annual Report on Form 20-F and its reports on Form 6-K. | | | Forward looking statements are based on management's current | | | evaluation, and TORM is only under obligation to update and | | | change the listed expectations to the extent required by law. | --------------------------------------------------------------------------------