TORM Regains Compliance With NASDAQ Listing Rules
12 Décembre 2012 - 3:56PM
TORM A/S (Nasdaq:TRMD) has received confirmation from NASDAQ
Listing Qualifications that the Company's American Depository
Receipts (ADRs) have closed (bid) at USD 1.00 per ADR or greater
for ten consecutive trading days. Accordingly, the Company has
regained compliance with the NASDAQ Stock Market listing rules.
Contact TORM
A/SJacob Meldgaard, CEO, tel.: +45 3917 9200 Roland M. Andersen,
CFO, tel.: +45 3917 9200 C. Soegaard-Christensen, IR, tel.: +45
3076 1288
Tuborg Havnevej 18 DK-2900 Hellerup, Denmark Tel.: +45 3917 9200
/ Fax: +45 3917 9393 www.torm.com
About TORM
TORM is one of the world's leading carriers of refined oil
products as well as a significant player in the dry bulk market.
The Company operates a fleet of approximately 110 modern vessels in
cooperation with other respected shipping companies sharing 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 NASDAQ OMX Copenhagen (ticker: TORM) and on
NASDAQ in New York (ticker: 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
and may be more detailed than regular practice. 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 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 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
conclusion of definitive waiver documents with our lenders, the
strength of the world economy 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 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 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 an
obligation to update and change the listed expectations to the
extent required by law.