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Torm A/S to Terminate American Depositary Receipt Program and Delist American Depository Shares from Nasdaq Capital Market


Friday, 15 Mar 2013 11:46am EDT 

Torm A/S announced that its Board proposed to the Annual General Meeting the termination of the Company’s American Depositary Receipt (ADR) program and in this connection allow the Company to acquire own shares as well as delist the Company’s American Depository Shares (ADS) from Nasdaq Capital Market, the United States (US), and deregister the Company’s securities under the US Securities Exchange Act of 1934, as amended. The Board of Directors finds that it would be in the interest of the Company due to the limited size of the ADR program and the costs involved with a listing on Nasdaq and the reporting and filing obligations under the US Exchange Act. The ADR program represents approximately 0.5% of the Company’s total share capital, following the capital increase carried out in connection with the Company’s restructuring in November 2012. 

Company Quote

0.541
-0.0395 -6.80%
20 Aug 2014