COPENHAGEN, Denmark, April 11, 2013 (GLOBE NEWSWIRE) -- The Annual General Meeting of TORM A/S was held on 11 April 2013 at 10:00 am at Radisson Blu Falconer Hotel. At the Annual General Meeting the following took place:
- The Annual Report 2012 was approved, cf. item 2 of the agenda.
- The proposal that the net result for the year of USD -481 million be carried forward was adopted, cf. item 3 of the agenda.
- The proposal to discharge the members of the Board of Directors and the Executive Management from liability was adopted, cf. item 4 of the agenda.
- No members of the Board of Directors were up for re-election at the AGM, and no further members were proposed elected to the Board of Directors, cf. item 5 of the agenda.
- Deloitte Statsautoriseret Revisions partnerselskab was re-appointed as the Company's auditor, cf. item 6 of the agenda.
- The remuneration level of the Board of Directors for the year 2013 was approved, cf. item 7.a of the agenda.
- 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, USA, and deregistration of the Company's securities under the U.S. Securities Exchange Act of 1934, as amended. 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%, cf. item 7.b of the agenda.
Safe Harbor statements as to the future
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 statements 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 guarantee that it will achieve or accomplish these expectations, beliefs or projections.
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