FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of April 2005
A/S STEAMSHIP COMPANY TORM
(Translation of registrant's name into English)
Tuborg Havnevej 18
DK-2900 Hellerup
Denmark
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [_]
Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes [_] No [X]
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Set forth herein as Exhibit 1 is a copy of Announcement No. 5 - 2005
issued by A/S STEAMSHIP COMPANY TORM to The Copenhagen Stock Exchange on April
19, 2005.
Exhibit 1
ANNOUNCEMENT NO. 5 - 2005
19 April 2005
Annual General Meeting in A/S Dampskibsselskabet TORM 19 April 2005
At the Annual General Meeting the following took place:
o Annual Report 2004 was approved.
o A dividend of DKK 15 per DKK 10 share (150%) as recommended by the Board of
Directors was approved.
o State authorized public accountants Ernst & Young and Deloitte were
re-elected.
o The proposal to change the Articles of Association to the effect that in
future the general meeting may elect only one auditor was approved.
o The proposal to change the registered office of the Company from the City
of Copenhagen to the Municipality of Gentofte was approved.
o Authorisation to increase the share capital with up to DKK 182,000,000
corresponding to 50% was renewed until 1 April 2010.
o Authorisation until 1 April 2010 to increase the share capital in one or
more transactions by up to DKK 10,000,000 as employee shares by cash
payment of not less than DKK 10.50 per share was approved.
o Authorisation to purchase the Company's own shares was renewed.
The Chairman, Mr. N. E. Nielsen, stated in his report that the Company's share
price has risen 157% during 2004 including payment of the dividend of DKK 6 per
share approved at the Annual General Meeting in April 2004.
The expectations for the 2005 result of USD 165-175 million (DKK 890-945
million) before value adjustment, any dividends received and gains or losses
from sales of vessels were maintained.
TORM has in 2005 sold 4 vessels. The gain from these sales of USD 49 million is
not included in the result expectations.
At the Board of Directors meeting immediately following the Annual General
Meeting, the Board of Directors then elected Mr. N. E. Nielsen as Chairman and
Mr. Christian Frigast as Deputy Chairman.
Accordingly, the Board of Directors going forward is made up of the following
persons:
N. E. Nielsen (Chairman)
Christian Frigast (Deputy Chairman)
Ditlev Engel
Rex Harrington
Gabriel Panayotides
Peder Mouridsen (elected by the employees)
Lennart Arnold Johan Arrias (elected by the employees).
A/S Dampskibsselskabet TORM
Contact persons: Klaus Kjaerulff, CEO (tel.: +45 39 17 92 00)
Klaus Nyborg, CFO (tel.: +45 39 17 92 00)
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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.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
A/S STEAMSHIP COMPANY TORM
(registrant)
Dated: April 20, 2005
By: /s/ Klaus Nyborg
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Klaus Nyborg
Chief Financial Officer
03810.0001 #564612