As part of TORM’s previously announced share buyback program, TORM plc (“TORM”) has purchased 180,500 of its Class A shares of USD 0.01 each (“A-shares”) between 12 and 26 March 2020 at an average price of DKK 50.9 per A-share. The purchased shares will all be held as treasury shares.
| Date of purchase: | 12-26 March 2020 |
| Number of A-shares purchased: | 180,500 |
| Highest price paid per share: | DKK 57.1 |
| Lowest price paid per share: | DKK 47.9 |
| Volume weighted average price: | DKK 50.9 |
| Aggregate amount paid: | DKK 9,194,425 |
Following the share buyback, TORM holds 493,371 A-shares as treasury shares. The total number of A-shares issued (excluding shares held as treasury shares) is 74,267,282. For reporting under the FCA's Disclosure Guidance and Transparency Rules, shareholders should exclude any shares held in treasury and use the figure of 74,267,282 A-shares (the issued voting share capital) when determining if they are required to notify their interest or a change of their interest in the Company. TORM has completed its share buyback program and has no current intention to purchase any further A-shares.
| CONTACT | TORM plc |
| Christopher Everard, General Manager, tel.: +44 203 713 4561 | Birchin Court, 20 Birchin Lane |
| London, EC3V 9DU, United Kingdom | |
| Tel.: +44 203 713 4560 | |
| www.torm.com |
ABOUT TORM
TORM is one of the world’s leading carriers of refined oil products. The Company operates a fleet of approximately 80 modern vessels with a strong commitment to safety, environmental responsibility and customer service. TORM was founded in 1889. The Company conducts business worldwide. TORM’s shares are listed on NASDAQ Copenhagen and NASDAQ New York (tickers: TRMD A and TRMD). 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 words “believe,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions generally identify forward-looking statements.
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 the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond our control, the Company cannot guarantee 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 the world economy and currencies, changes in charter hire rates and vessel values, changes in demand for “ton 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 the regulation of shipping operations, 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, political events or acts by terrorists.
In light of these risks and uncertainties, you should not place undue reliance on forward-looking statements contained in this release because they are statements about events that are not certain to occur as described or at all. These forward-looking statements are not guarantees of our future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements.
Except to the extent required by applicable law or regulation, the Company undertakes no obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
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