Report of Transactions in TORM A/S Securities by Managerial Staff and Connected Persons
May 20 2010 - 11:02AM
ANNOUNCEMENT NO 7 - 2010
20 May 2010
Report of transactions in TORM A/S securities by managerial
staff and connected persons
TORM A/S is obliged under section 28a of the Danish Securities
Trading Act to report transactions in TORM A/S securities by its
managerial staff and connected persons:
TORM A/S has been notified of the following
transaction:
Name: |
|
|
Jacob Balslev Meldgaard |
Reason: |
|
|
CEO |
Securities code (ISIN-kode): |
|
|
DK 0060082915 |
Description: |
|
|
Shares |
Transaction: |
|
|
Purchase |
Trading date: |
|
|
20 May 2010 |
Market: |
|
|
NASDAQ OMX Copenhagen A/S |
Number: |
|
|
100,000 |
Market value in DKK: |
|
|
4,660,000 |
About TORM
TORM is one of the world's leading carriers of refined oil
products as well as a significant participant in the dry bulk
market. The Company runs a fleet of approximately 140 modern
vessels, through a 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 (Copenhagen:TORM)
and on NASDAQ in New York (Nasdaq:TRMD). For further information,
please visit www.torm.com.
Safe Harbor Forward Looking Statements
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 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.
CONTACT: TORM A/S
Jacob Meldgaard, CEO
+45 39 17 92 00