TORM
A/S
(registrant)
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Dated:
May 20, 2010
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By:
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/s/ Jacob Meldgaard
Name:
Jacob Meldgaard
Title: Chief
Executive Officer
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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:
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Name:
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Jacob
Balslev Meldgaard
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Reason:
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CEO
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Securities
code (ISIN-kode):
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DK
0060082915
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Description:
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Shares
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Transaction:
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Purchase
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Trading
date:
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20
May 2010
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Market:
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NASDAQ
OMX Copenhagen A/S
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Number:
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100,000
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Market
value in DKK:
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4,660,000
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Contact:
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Jacob
Meldgaard, CEO, tel.: +45 39 17 92 00
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About
TORM
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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 (ticker: TORM) and on NASDAQ in New York (ticker:
TRMD). For further information, please visit www.torm.com.
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Safe
Harbor Forward Looking Statements
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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.
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