TORM plc has closed its secondary public offering of 9,000,000 Class A common shares, with selling shareholder OCM Njord Holdings S.à r.l. receiving approximately U.S. $290,250,000. The transaction concluded on September 16, 2026, as previously scheduled.

J.P. Morgan Securities LLC acted as the sole underwriter for the offering. The company itself did not issue new shares and received no proceeds from the sale.

Offering Details

OCM Njord Holdings S.à r.l., an affiliate of Oaktree Capital Management, L.P., was the sole seller. Following the closing, the shareholder’s beneficial ownership in TORM’s Class A common shares decreased to approximately 11.06%, down from roughly 20% prior to the offering.

The underwriter held a 30-day option to purchase up to an additional 1,350,000 shares.

Regulatory Context

The offering was conducted via a prospectus supplement and accompanying base prospectus. A shelf registration statement relating to the offering was filed with the U.S. Securities and Exchange Commission and is effective.

TORM plc (NASDAQ: TRMD) has increased its share capital by 31,483 Class A shares following the exercise of Restricted Share Units. The issuance was completed without pre-emption rights for existing shareholders.

The capital increase reflects the settlement of employee incentive awards. All new shares were subscribed for in cash at DKK 179.80 per share. This transaction resulted in a nominal increase of USD 314.83 to the company’s total share capital.

Capital Structure Update

Following the issuance, TORM’s total share capital stands at USD 1,024,212.67. The capital is divided into 102,421,267 Class A shares, each with a nominal value of USD 0.01. Each share carries one vote and grants rights to dividends effective from the date of issuance.

Listing and Transfer Details

The new shares are ordinary negotiable instruments without special rights. They are expected to be admitted to trading and official listing on Nasdaq Copenhagen as soon as possible. Transfer restrictions may apply in certain jurisdictions outside Denmark, including under applicable US securities laws.

TORM operates as one of the world’s leading carriers of refined oil products, managing a fleet of product tanker vessels globally.