ANNOUNCEMENT NO. 21 - 2007
31 August 2007
The Board of directors of A/S Dampskibsselskabet TORM has decided to exercise the authorisation under article 3.8 of the Articles of Association adopted pursuant to section 109a of the Danish Public Companies Act at the extraordinary general meeting of shareholders held on 14 August 2007.
The decision of the Board of directors involves the distribution of a total of DKK 2,002 million in cash corresponding to DKK 27.50 per share in TORM of a nominal value of DKK 5.
The dividend settlement will be effected by the Danish VP Securities Services (VP) on Wednesday, 5 September 2007 on the basis of the shareholdings registered on VP accounts following an update at the end of the trading day.
Share purchases which are settled no later than Wednesday, 5 September 2007 will thus entitle the purchaser to dividends, whereas share sales which are settled no later than 5 September 2007 will not entitle the seller to dividends. This means that trades taking place up until and including today will be settled inclusive of divi-dends, whereas trades effected as from Monday, 3 September 2007 will be settled exclusive of dividends (subject to the conventional three settlement days).
As regards TORM’s ADRs trades up until and including today will be settled inclu-sive of dividends, whereas trades effected after today will be settled exclusive of dividends.
Dividends will be available to the shareholders on Thursday, 6 September 2007, whereas it is expected that dividends in relation to ADRs will be available on Thursday, 13 September 2007.
Contact Klaus Kjærulff, CEO, tel.: +45 39 17 92 00.