- All proposed resolutions were successfully passed at TORM plc's (TRMD, Financial) Annual General Meeting on April 16, 2025.
- Key resolutions included a USD 180 million reduction in share premium account and the cancellation of Treasury Shares.
- Shareholder participation was strong, with a 91.71% turnout for director appointments.
TORM plc (TRMD) held its Annual General Meeting on April 16, 2025, marking a notable event in the company's governance with all proposed resolutions being approved by shareholders. The meeting demonstrated robust shareholder engagement, showcasing an impressive 62.04% participation rate for general resolutions and a striking 91.71% for director appointments.
Among the critical resolutions ratified was the adoption of the 2024 Annual Report, which received 92.63% approval. The Directors' Remuneration Report also gained substantial support at 94.21%, and the reappointment of Ernst & Young LLP as auditor was overwhelmingly favored with 99.05% votes in agreement. Executive Director Jacob Meldgaard was reappointed with an approval rate of 99.88%.
In terms of financial restructuring, shareholders agreed to two special resolutions. The reduction of the share premium account by USD 180 million was backed by 98.95% of the votes, and the cancellation of Treasury Shares was endorsed with 99.05% approval. These resolutions reflect the company's strategic financial adjustments, aimed at optimizing shareholder value.
TORM plc continues to position itself as a leader in the refined oil products shipping industry, maintaining a commitment to safety, environmental stewardship, and excellent customer service. Headquartered in London, TORM's shares are listed on Nasdaq under the ticker TRMD. For more details, visit their official website.
