Forward-looking statements are based on management's current evaluation, and TORM is only under an obligation to update and change the listed expectations to the extent required by law.
The TORM share
The price of a TORM share was DKK 46.1 at 30 June 2010, against DKK 57.0 at 31 March 2010, equivalent to a decrease of DKK 10.9 (19%).
This interim report for the second quarter of 2010 is presented in accordance with IAS 34 "Interim financial reporting" as adopted by the EU and additional Danish disclosure requirements for interim reports of listed companies. The interim report for the second quarter of 2010 is unaudited and is presented in accordance with the same accounting policies as the Annual Report 2009.
TORM will host a telephone conference for financial analysts and investors on 19 August 2010 at 3:00 pm Copenhagen time (CET), reviewing the interim report for the first six months of 2010. The conference call will be hosted by Jacob Meldgaard, CEO, Roland M. Andersen, CFO, and Sune S. Mikkelsen, VP IR, and will be conducted in English.
To participate, please call 10 minutes before the conference on tel.: +45 3271 4607 (from Europe) or +1 887 491 0064 (from the USA). The teleconference will also be webcast via TORM's website
. The presentation material can be downloaded from the website.
TORM's financial report for the first nine months of 2010 will be published on 18 November 2010.
Statement by the Board of Directors and Executive Management on the Interim Report
The Board of Directors and Executive Management have considered and approved the interim report for the period 1 January - 30 June 2010.
The interim report, which is unaudited, has been prepared in accordance with the general Danish financial reporting requirements governing listed companies, including the measurement and recognition provisions of IFRS which are expected to be applicable to the Annual Report 2010.