{"success":true,"data":{"pressRelease":{"id":"161652","rtpr_id":"nWkr68cqDT-20261006","ticker":"TRMDA","exchange":"Nasdaq Copenhagen","all_tickers":["TRMDA"],"title":"TORM plc announces pricing of secondary public offering of its class A common shares","author":"Cision","published_at":"2026-10-06T11:54:26.629Z","article_body":"Torm PLC\nTORM plc (the \"Company\" or \"TORM\") (Nasdaq: TRMD or TRMD A) today announces\nthe pricing of a secondary public offering of 6,329,874 (six million three\nhundred twenty-nine thousand eight hundred seventy-four) of the Company's\nClass A common shares by OCM Njord Holdings S.à r.l. (the \"Selling\nShareholder\"), a company indirectly owned by funds indirectly managed by\nOaktree Capital Management GP, LLC and its affiliates, for gross proceeds to\nthe Selling Shareholder of approximately U.S. $253,500,000 (two hundred\nfifty-three million five hundred thousand). The offering is expected to close\non October 7, 2026.\n\nThe Selling Shareholder beneficially owns approximately 6% of the Company's\nClass A common shares prior to this offering. The Company is not selling any\nClass A common shares and will not receive any proceeds from the sale of the\nCompany's Class A common shares by the Selling Shareholder. \n\nJ.P. Morgan Securities LLC is acting as sole underwriter for the offering. The\nunderwriter intends to offer the Company's Class A common shares to the public\nat a fixed price, which may be changed at any time without notice. The\noffering is being made only by means of a prospectus supplement and\naccompanying base prospectus related to the offering, copies of which may be\nobtained, when available, from J.P. Morgan Securities LLC, c/o Broadridge\nFinancial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Email:\nprospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com.\n\nThis company announcement does not constitute an offer to sell or a\nsolicitation of an offer to buy the securities described herein and there\nshall not be any sale of these securities in any state or other jurisdiction\nin which such an offer, solicitation or sale would be unlawful prior to\nregistration or qualification under the securities laws of any such\njurisdiction. A shelf registration statement relating to the offering of the\nClass A common stock was filed with the U.S. Securities and Exchange\nCommission and is effective.\n\nContact\n\nMikael Bo Larsen, Head of Investor Relations\n\nTel.: +45 5143 8002\n\nAbout TORM\n\nTORM is one of the world's leading carriers of refined oil products. TORM\noperates a fleet of product tanker vessels with a strong commitment to safety.\nenvironmental responsibility and customer service. TORM was founded in 1889\nand conducts business worldwide. TORM's shares are listed on Nasdaq in\nCopenhagen and on Nasdaq in New York (ticker: TRMD A and TRMD. ISIN:\nGB00BZ3CNK81).\n\nSafe Harbor Statement as to the Future\n\nMatters discussed in this release may constitute forward-looking statements.\nThe Private Securities Litigation Reform Act of 1995 provides safe harbor\nprotections for forward-looking statements in order to encourage companies to\nprovide prospective information about their business. Forward-looking\nstatements reflect our current views with respect to future events and\nfinancial performance and may include statements concerning plans, objectives,\ngoals, strategies, future events or performance, and underlying assumptions\nand other statements, which are statements other than statements of historical\nfacts. The Company desires to take advantage of the safe harbor provisions of\nthe Private Securities Litigation Reform Act of 1995 and is including this\ncautionary statement in connection with this safe harbor legislation. Words\nsuch as, but not limited to, \"expects,\" \"anticipates,\" \"intends,\" \"plans,\"\n\"believes,\" \"estimates,\" \"targets,\" \"projects,\" \"forecasts,\" \"potential,\"\n\"continue,\" \"possible,\" \"likely,\" \"may,\" \"could,\" \"should\" and similar\nexpressions or phrases may identify forward-looking statements.\n\nThe forward-looking statements in this release are based upon various\nassumptions, many of which are, in turn, based upon further assumptions,\nincluding without limitation, management's examination of historical operating\ntrends, data contained in our records and other data available from third\nparties. Although the Company believes that these assumptions were reasonable\nwhen made, because these assumptions are inherently subject to significant\nuncertainties and contingencies that are difficult or impossible to predict\nand are beyond our control, the Company cannot guarantee that it will achieve\nor accomplish these expectations, beliefs, or projections.\n\nImportant factors that, in our view, could cause actual results to differ\nmaterially from those discussed in the forward-looking statements include, but\nare not limited to, our future operating or financial results; changes in\ngovernmental rules and regulations or actions taken by regulatory authorities;\ninflationary pressure and central bank policies intended to combat overall\ninflation and rising interest rates and foreign exchange rates; general\ndomestic and international political conditions or events, including \"trade\nwars\" and the war between Russia and Ukraine, the developments in the Middle\nEast, including the war in Israel and the Gaza Strip, and the conflict\nregarding the Houthis' attacks in the Red Sea; international sanctions against\nRussian oil and oil products; changes in economic and competitive conditions\naffecting our business, including market fluctuations in charter rates and\ncharterers' abilities to perform under existing time charters; changes in the\nsupply and demand for vessels comparable to ours and the number of\nnewbuildings under construction; the highly cyclical nature of the industry\nthat we operate in; the loss of a large customer or significant business\nrelationship; changes in worldwide oil production and consumption and storage;\nrisks associated with any future vessel construction; our expectations\nregarding the availability of vessel acquisitions and our ability to complete\nacquisition transactions planned; availability of skilled crew members other\nemployees and the related labor costs; work stoppages or other labor\ndisruptions by our employees or the employees of other companies in related\nindustries;  effects of new products and new technology in our industry; \nnew environmental regulations and restrictions; the impact of an interruption\nin or failure of our information technology and communications systems,\nincluding the impact of cyber-attacks, upon our ability to operate; potential\nconflicts of interest involving members of our Board of Directors and Senior\nManagement; the failure of counterparties to fully perform their contracts\nwith us; changes in credit risk with respect to our counterparties on\ncontracts; adequacy of insurance coverage; our ability to obtain indemnities\nfrom customers; changes in laws, treaties or regulations; our incorporation\nunder the laws of England and Wales and the different rights to relief that\nmay be available compared to other countries, including the United States;\ngovernment requisition of our vessels during a period of war or emergency; the\narrest of our vessels by maritime claimants; any further changes in U.S. trade\npolicy that could trigger retaliatory actions by the affected countries; the\nimpact of the U.S. presidential and congressional election results affecting\nthe economy, future government laws and regulations and trade policy matters,\nsuch as the imposition of tariffs and other import restrictions; potential\ndisruption of shipping routes due to accidents, climate-related incidents,\nadverse weather and natural disasters, environmental factors, political\nevents, public health threats, acts by terrorists or acts of piracy on\nocean-going vessels; damage to storage and receiving facilities; potential\nliability from future litigation and potential costs due to environmental\ndamage and vessel collisions; and the length and number of off-hire periods\nand dependence on third-party managers.\n\nIn the light of these risks and uncertainties, undue reliance should not be\nplaced on forward-looking statements contained in this release because they\nare statements about events that are not certain to occur as described or at\nall. These forward-looking statements are not guarantees of our future\nperformance, and actual results and future developments may vary materially\nfrom those projected in the forward-looking statements.\n\nExcept to the extent required by applicable law or regulation, the Company\nundertakes no obligation to release publicly any revisions or updates to these\nforward-looking statements to reflect events or circumstances after the date\nof this release or to reflect the occurrence of unanticipated events. Please\nsee TORM's filings with the U.S. Securities and Exchange Commission for a more\ncomplete discussion of certain of these and other risks and uncertainties. The\ninformation set forth herein speaks only as of the date hereof, and the\nCompany disclaims any intention or obligation to update any forward-looking\nstatements as a result of developments occurring after the date of this\ncommunication.\n\nhttps://news.cision.com/torm-plc/r/torm-plc-announces-pricing-of-secondary-public-offering-of-its-class-a-common-shares%2Cc4405137\n\n32-2026 - TORM plc announces pricing of secondary public offering of its class\nA common shares (https://mb.cision.com/Main/21247/4405137/4304237.pdf)\n\n\n\n(c) Cision 2026","article_body_html":"","raw_payload":{"data":{"id":"nWkr68cqDT-20261006","title":"TORM plc announces pricing of secondary public offering of its class A common shares","author":"Cision","ticker":"TRMDA","created":"2026-10-06T11:54:26.629Z","tickers":["TRMDA"],"exchange":"Nasdaq Copenhagen","article_body":"Torm PLC\nTORM plc (the \"Company\" or \"TORM\") (Nasdaq: TRMD or TRMD A) today announces\nthe pricing of a secondary public offering of 6,329,874 (six million three\nhundred twenty-nine thousand eight hundred seventy-four) of the Company's\nClass A common shares by OCM Njord Holdings S.à r.l. (the \"Selling\nShareholder\"), a company indirectly owned by funds indirectly managed by\nOaktree Capital Management GP, LLC and its affiliates, for gross proceeds to\nthe Selling Shareholder of approximately U.S. $253,500,000 (two hundred\nfifty-three million five hundred thousand). The offering is expected to close\non October 7, 2026.\n\nThe Selling Shareholder beneficially owns approximately 6% of the Company's\nClass A common shares prior to this offering. The Company is not selling any\nClass A common shares and will not receive any proceeds from the sale of the\nCompany's Class A common shares by the Selling Shareholder. \n\nJ.P. Morgan Securities LLC is acting as sole underwriter for the offering. The\nunderwriter intends to offer the Company's Class A common shares to the public\nat a fixed price, which may be changed at any time without notice. The\noffering is being made only by means of a prospectus supplement and\naccompanying base prospectus related to the offering, copies of which may be\nobtained, when available, from J.P. Morgan Securities LLC, c/o Broadridge\nFinancial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Email:\nprospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com.\n\nThis company announcement does not constitute an offer to sell or a\nsolicitation of an offer to buy the securities described herein and there\nshall not be any sale of these securities in any state or other jurisdiction\nin which such an offer, solicitation or sale would be unlawful prior to\nregistration or qualification under the securities laws of any such\njurisdiction. A shelf registration statement relating to the offering of the\nClass A common stock was filed with the U.S. Securities and Exchange\nCommission and is effective.\n\nContact\n\nMikael Bo Larsen, Head of Investor Relations\n\nTel.: +45 5143 8002\n\nAbout TORM\n\nTORM is one of the world's leading carriers of refined oil products. TORM\noperates a fleet of product tanker vessels with a strong commitment to safety.\nenvironmental responsibility and customer service. TORM was founded in 1889\nand conducts business worldwide. TORM's shares are listed on Nasdaq in\nCopenhagen and on Nasdaq in New York (ticker: TRMD A and TRMD. ISIN:\nGB00BZ3CNK81).\n\nSafe Harbor Statement as to the Future\n\nMatters discussed in this release may constitute forward-looking statements.\nThe Private Securities Litigation Reform Act of 1995 provides safe harbor\nprotections for forward-looking statements in order to encourage companies to\nprovide prospective information about their business. Forward-looking\nstatements reflect our current views with respect to future events and\nfinancial performance and may include statements concerning plans, objectives,\ngoals, strategies, future events or performance, and underlying assumptions\nand other statements, which are statements other than statements of historical\nfacts. The Company desires to take advantage of the safe harbor provisions of\nthe Private Securities Litigation Reform Act of 1995 and is including this\ncautionary statement in connection with this safe harbor legislation. Words\nsuch as, but not limited to, \"expects,\" \"anticipates,\" \"intends,\" \"plans,\"\n\"believes,\" \"estimates,\" \"targets,\" \"projects,\" \"forecasts,\" \"potential,\"\n\"continue,\" \"possible,\" \"likely,\" \"may,\" \"could,\" \"should\" and similar\nexpressions or phrases may identify forward-looking statements.\n\nThe forward-looking statements in this release are based upon various\nassumptions, many of which are, in turn, based upon further assumptions,\nincluding without limitation, management's examination of historical operating\ntrends, data contained in our records and other data available from third\nparties. Although the Company believes that these assumptions were reasonable\nwhen made, because these assumptions are inherently subject to significant\nuncertainties and contingencies that are difficult or impossible to predict\nand are beyond our control, the Company cannot guarantee that it will achieve\nor accomplish these expectations, beliefs, or projections.\n\nImportant factors that, in our view, could cause actual results to differ\nmaterially from those discussed in the forward-looking statements include, but\nare not limited to, our future operating or financial results; changes in\ngovernmental rules and regulations or actions taken by regulatory authorities;\ninflationary pressure and central bank policies intended to combat overall\ninflation and rising interest rates and foreign exchange rates; general\ndomestic and international political conditions or events, including \"trade\nwars\" and the war between Russia and Ukraine, the developments in the Middle\nEast, including the war in Israel and the Gaza Strip, and the conflict\nregarding the Houthis' attacks in the Red Sea; international sanctions against\nRussian oil and oil products; changes in economic and competitive conditions\naffecting our business, including market fluctuations in charter rates and\ncharterers' abilities to perform under existing time charters; changes in the\nsupply and demand for vessels comparable to ours and the number of\nnewbuildings under construction; the highly cyclical nature of the industry\nthat we operate in; the loss of a large customer or significant business\nrelationship; changes in worldwide oil production and consumption and storage;\nrisks associated with any future vessel construction; our expectations\nregarding the availability of vessel acquisitions and our ability to complete\nacquisition transactions planned; availability of skilled crew members other\nemployees and the related labor costs; work stoppages or other labor\ndisruptions by our employees or the employees of other companies in related\nindustries;  effects of new products and new technology in our industry; \nnew environmental regulations and restrictions; the impact of an interruption\nin or failure of our information technology and communications systems,\nincluding the impact of cyber-attacks, upon our ability to operate; potential\nconflicts of interest involving members of our Board of Directors and Senior\nManagement; the failure of counterparties to fully perform their contracts\nwith us; changes in credit risk with respect to our counterparties on\ncontracts; adequacy of insurance coverage; our ability to obtain indemnities\nfrom customers; changes in laws, treaties or regulations; our incorporation\nunder the laws of England and Wales and the different rights to relief that\nmay be available compared to other countries, including the United States;\ngovernment requisition of our vessels during a period of war or emergency; the\narrest of our vessels by maritime claimants; any further changes in U.S. trade\npolicy that could trigger retaliatory actions by the affected countries; the\nimpact of the U.S. presidential and congressional election results affecting\nthe economy, future government laws and regulations and trade policy matters,\nsuch as the imposition of tariffs and other import restrictions; potential\ndisruption of shipping routes due to accidents, climate-related incidents,\nadverse weather and natural disasters, environmental factors, political\nevents, public health threats, acts by terrorists or acts of piracy on\nocean-going vessels; damage to storage and receiving facilities; potential\nliability from future litigation and potential costs due to environmental\ndamage and vessel collisions; and the length and number of off-hire periods\nand dependence on third-party managers.\n\nIn the light of these risks and uncertainties, undue reliance should not be\nplaced on forward-looking statements contained in this release because they\nare statements about events that are not certain to occur as described or at\nall. These forward-looking statements are not guarantees of our future\nperformance, and actual results and future developments may vary materially\nfrom those projected in the forward-looking statements.\n\nExcept to the extent required by applicable law or regulation, the Company\nundertakes no obligation to release publicly any revisions or updates to these\nforward-looking statements to reflect events or circumstances after the date\nof this release or to reflect the occurrence of unanticipated events. Please\nsee TORM's filings with the U.S. Securities and Exchange Commission for a more\ncomplete discussion of certain of these and other risks and uncertainties. The\ninformation set forth herein speaks only as of the date hereof, and the\nCompany disclaims any intention or obligation to update any forward-looking\nstatements as a result of developments occurring after the date of this\ncommunication.\n\nhttps://news.cision.com/torm-plc/r/torm-plc-announces-pricing-of-secondary-public-offering-of-its-class-a-common-shares%2Cc4405137\n\n32-2026 - TORM plc announces pricing of secondary public offering of its class\nA common shares (https://mb.cision.com/Main/21247/4405137/4304237.pdf)\n\n\n\n(c) Cision 2026"},"type":"article","timestamp":"2026-10-06T11:54:26.722816377Z","server_sent_at_ms":1791287666722},"received_at":"2026-10-06T11:54:26.772Z","source_url":"https://news.cision.com/torm-plc/r/torm-plc-announces-pricing-of-secondary-public-offering-of-its-class-a-common-shares%2Cc4405137"},"analysis":{"id":"150171","press_release_id":"161652","analysis_json":{"industry":{"label":"Oil, Gas & Consumable Fuels","sector":"Energy"},"redFlags":["Large insider/anchor holder (Oaktree-affiliated) reducing its stake"],"eventType":"offering","narrative":"TORM plc priced a secondary public offering of 6,329,874 Class A common shares sold by OCM Njord Holdings, an Oaktree-affiliated vehicle, for gross proceeds of roughly $253.5 million to the seller.\n\nThe company itself is not selling shares and receives no proceeds; the sale reduces Oaktree's stake from approximately 6% of Class A shares.\n\nJ.P. Morgan is sole underwriter and the offering is expected to close October 7, 2026.","sentiment":"neutral","agentHooks":{"shouldPost":true,"suggestedAngle":"Oaktree exits its remaining ~6% TORM stake via a $253.5M secondary block -- watch for supply pressure, though float increases."},"keyFigures":{"dealValueUsd":253500000,"sharesOffered":6329874,"customDimensions":{"proceeds_to_company":0,"seller_stake_before_offering":"approximately 6% of Class A common shares"}},"namedEntities":{"people":[{"name":"Mikael Bo Larsen","role":"Head of Investor Relations"}],"products":[],"companies":[{"name":"TORM plc","ticker":"TRMD","relationship":"issuer"},{"name":"OCM Njord Holdings S.à r.l.","relationship":"selling shareholder"},{"name":"Oaktree Capital Management GP, LLC","relationship":"owner of selling shareholder"},{"name":"J.P. Morgan Securities LLC","relationship":"underwriter"},{"name":"Broadridge Financial Solutions","relationship":"prospectus distribution"}],"dollarAmounts":[{"amount":"U.S. $253,500,000","context":"gross proceeds to the Selling Shareholder"}]},"materialImpact":{"score":3,"reasoning":"Secondary block sale by Oaktree-affiliated holder of ~6% stake (~$253.5M). No proceeds to company and no new share issuance, but a large insider exit can pressure the stock."},"tickerRelevance":{"others":[{"ticker":"TRMD","relevance":"primary Nasdaq New York ticker of the same issuer"}],"primary":"TRMDA"},"globalImportance":35,"audienceRelevance":30,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"mid-cap shipping","insiderExit":true,"eventGravity":"secondary block sale, no issuer proceeds"}},"event_type":"offering","event_type_secondary":null,"sentiment":"neutral","material_impact_score":3,"narrative":"TORM plc priced a secondary public offering of 6,329,874 Class A common shares sold by OCM Njord Holdings, an Oaktree-affiliated vehicle, for gross proceeds of roughly $253.5 million to the seller.\n\nThe company itself is not selling shares and receives no proceeds; the sale reduces Oaktree's stake from approximately 6% of Class A shares.\n\nJ.P. Morgan is sole underwriter and the offering is expected to close October 7, 2026.","key_figures":{"dealValueUsd":253500000,"sharesOffered":6329874,"customDimensions":{"proceeds_to_company":0,"seller_stake_before_offering":"approximately 6% of Class A common shares"}},"named_entities":{"people":[{"name":"Mikael Bo Larsen","role":"Head of Investor Relations"}],"products":[],"companies":[{"name":"TORM plc","ticker":"TRMD","relationship":"issuer"},{"name":"OCM Njord Holdings S.à r.l.","relationship":"selling shareholder"},{"name":"Oaktree Capital Management GP, LLC","relationship":"owner of selling shareholder"},{"name":"J.P. Morgan Securities LLC","relationship":"underwriter"},{"name":"Broadridge Financial Solutions","relationship":"prospectus distribution"}],"dollarAmounts":[{"amount":"U.S. $253,500,000","context":"gross proceeds to the Selling Shareholder"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-06T11:54:31.995Z","global_importance":35,"audience_relevance":30,"importance_components":{"tickerTier":"mid-cap shipping","insiderExit":true,"eventGravity":"secondary block sale, no issuer proceeds"}},"durationMs":5210,"modelName":"glm-5.3-flashx"}}