A/S
STEAMSHIP COMPANY TORM
(registrant)
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Dated:
March 10, 2009
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By:
/s/ Mikael Skov
Name:
Mikael Skov
Title: Interim
Chief Executive
Officer
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ANNOUNCEMENT
NO. 2 – 2009
10
March 2009
Disclosure
of the sale of the bulk vessel TORM Marlene - Decision by the Danish
Securities Council
On
25 April 2008, A/S Dampskibsselskabet TORM announced the sale of the bulk
vessel TORM Marlene. Since then, TORM has corresponded with the Danish
Financial Supervisory Authority about whether TORM has made a timely
disclose pursuant to Section 27 of the Danish Securities Trading
Act.
In
TORM’s opinion, the Company has not violated its disclosure obligations,
and TORM has followed its long-standing disclosure practice when
disclosing information on the sale of TORM Marlene and which is also
followed by leading Danish and international companies within the shipping
industry.
The
Danish Financial Supervisory Authority has referred the matter to the
Danish Securities Council. TORM has been informed by the Danish Financial
Supervisory Authority that the Securities Council has decided to refer the
matter of whether TORM has violated Section 27(1) of the Danish Securities
Trading Act to the public prosecutor for further
investigation.
TORM
has already given an account of its view on this particular matter to the
Danish Financial Supervisory. TORM is surprised to learn that the matter
has been referred to the public prosecutor, but intends to cooperate in
any investigation.
TORM does not intend to make any additional comments to the
press while the matter is pending.
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Contact:
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Mikael
Skov, CEO, tel.: +45 39 17 92 00
Roland
M. Andersen, CFO, tel.: +45 39 17 92 00
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About
TORM
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TORM
is one of the world's leading carriers of refined oil products as well as
being a significant participant in the dry bulk market. The Company
operates a combined fleet of more than 130 modern vessels, principally
through a pooling cooperation with other respected shipping companies who
share TORM's commitment to safety, environmental responsibility and
customer service.
TORM
was founded in 1889. The Company conducts business worldwide and is
headquartered in Copenhagen, Denmark. TORM’s shares are listed on the
Copenhagen Stock Exchange (ticker TORM) as well as on the NASDAQ (ticker
TRMD). For further information, please visit www.torm.com.
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Safe
Harbor
Forward
Looking
Statements
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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 other statements, which are
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 assure you that
it will achieve or accomplish these expectations, beliefs or
projections.
Important
factors that, in our view, could cause actual results to differ materially
from those discussed in the forward looking statements include the
strength of world economies and currencies, changes in charter hire rates
and vessel values, changes in demand for “tonne miles” of oil carried by
oil tankers, the effect of changes in OPEC’s petroleum production levels
and worldwide oil consumption and storage, changes in demand that may
affect attitudes of time charterers to scheduled and unscheduled
dry-docking, changes in TORM’s operating expenses, including bunker
prices, dry-docking and insurance costs, changes in governmental rules and
regulations including requirements for double hull tankers or actions
taken by regulatory authorities, potential liability from pending or
future litigation, domestic and international political conditions,
potential disruption of shipping routes due to accidents and political
events or acts by terrorists. Risks and uncertainties are further
described in reports filed by TORM with the US Securities and Exchange
Commission, including the TORM Annual Report on Form 20-F and its reports
on Form 6-K.
Forward
looking statements are based on management’s current evaluation, and TORM
is only under obligation to update and change the listed expectations to
the extent required by law.
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ANNOUNCEMENT NO. 2 – 2009 |
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10 MARCH
2009
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A/S
DAMPSKIBSSELSKABET TORM – DISCLOSURE OF SALE OF TORM MARLENE – DECISION BY
THE DANISH SECURITIES COUNCIL
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