TORM shareholders approve plan to delist from Nasdaq

theflyonthewall.com

At the General Meeting of TORM A/S, the Board of Directors was authorized to terminate the company's American Depositary Receipts program and in this connection to request a delisting of the company's American Depository Shares from Nasdaq Capital Market and deregistration of the company's securities under the U.S. Securities Exchange Act, the company disclosed. In this connection, the Board of Directors was authorized, in the period until the end of 2015, to permit the company to acquire an amount of its own shares, up to a total nominal amount of DKK 145.600, subject to a total holding limit of 3% of the share capital at a price equal to the share price quoted at the time of purchase, subject to a deviation of up to 10%.

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