TORM plc (NASDAQ: TRMD) increased its share capital by 43,697 A-shares with a nominal value of $436.97 following the exercise of Restricted Share Units under the company's incentive program, according to a company statement.

The Danish shipping company issued 10,634 new shares at DKK 131.80 per A-share and 33,063 new shares at DKK 148.70 per share, both subscribed for in cash. The capital increase was conducted without pre-emption rights for existing shareholders.

Following the share issuance, TORM's total share capital amounts to $1,021,233.39, divided into 102,123,339 A-shares with a nominal value of $0.01 each. Each A-share carries one vote.

The new shares are ordinary shares without special rights and provide dividend rights and other shareholder rights from the date of issuance. The company expects the shares to be admitted to trading and official listing on Nasdaq Copenhagen.

TORM operates a fleet of product tanker vessels for transporting refined oil products. The company's shares are listed on Nasdaq Copenhagen and Nasdaq New York under the ticker symbols TRMD A and TRMD.