A/S Dampskibsselskabet TORM - Decision to Distribute Interim Dividend
31 Août 2007 - 10:24AM
PR Newswire (US)
COPENHAGEN, August 31 /PRNewswire-FirstCall/ -- The Board of
directors of A/S Dampskibsselskabet TORM has decided to exercise
the authorisation under article 3.8 of the Articles of Association
adopted pursuant to section 109a of the Danish Public Companies Act
at the extraordinary general meeting of shareholders held on 14
August 2007. The decision of the Board of directors involves the
distribution of a total of DKK 2,002 million in cash corresponding
to DKK 27.50 per share in TORM of a nominal value of DKK 5. The
dividend settlement will be effected by the Danish VP Securities
Services (VP) on Wednesday, 5 September 2007 on the basis of the
shareholdings registered on VP accounts following an update at the
end of the trading day. Share purchases which are settled no later
than Wednesday, 5 September 2007 will thus entitle the purchaser to
dividends, whereas share sales which are settled no later than 5
September 2007 will not entitle the seller to dividends. This means
that trades taking place up until and including today will be
settled inclusive of dividends, whereas trades effected as from
Monday, 3 September 2007 will be settled exclusive of dividends
(subject to the conventional three settlement days). As regards
TORM's ADRs trades up until and including today will be settled
inclusive of dividends, whereas trades effected after today will be
settled exclusive of dividends. Dividends will be available to the
shareholders on Thursday, 6 September 2007, whereas it is expected
that dividends in relation to ADRs will be available on Thursday,
13 September 2007. About TORM TORM is one of the world's leading
carriers of refined oil products as well as being a significant
participant in the dry bulk market. The Company operates a combined
fleet of more than 100 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 Copenhagen Stock Exchange (ticker
TORM) as well as on the NASDAQ (ticker TRMD). For further
information, please visit http://www.torm.com/. SAFE HARBOUR
STATEMENT - 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
crude 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. Vedhaeftede filer: no. 21 2007 -
distribution of interim dividend - 31.08.07.pdf Vedhaeftede filer:
1. no. 21 2007 - distribution of interim dividend - 31.08.07.pdf
(https://cns.omxgroup.com/cds/DisclosureAttachmentServlet?message
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DATASOURCE: A/S Dampskibsselskabet TORM CONTACT: Contact: Klaus
Kjaerulff, CEO, tel.: +45-39-17-92-00; OMX AB: +46-8-405-60-00
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