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News Breaks | | | | December 12, 2012 | | 10:01 EDT |  | TRMD | TORM A/S regains compliance with Nasdaq listing rules
TORM A/S has received confirmation from NASDAQ Listing Qualifications that the company's ADRs have closed at USD 1.00 per ADR or greater for ten consecutive trading days. Accordingly, the company has regained compliance with the NASDAQ Stock Market listing rules. | |
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| June 19, 2013 | | 05:47 EDT | | TRMD | TORM A/S terminates ADR program, plans to delist from NASDAQ
TORM A/S announced that it has commenced the process to terminate its American Depository Receipt, or ADR, program, which is governed by the Deposit Agreement between the company and Deutsche Bank Trust Company Americas dated as of May 8, as amended, and delist its American Depositary Shares, or ADSs, evidenced by ADRs, from the NASDAQ Capital Market, which was authorized by the company's shareholders at the company's 2013 Annual General Meeting that was held on April 11. The board has determined that termination of the company's ADR program, delisting its securities from NASDAQ, USA and deregistering its securities under the Securities Exchange Act is 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 U.S. Securities Exchange Act. Pursuant to the terms and conditions of the Deposit Agreement, the company mailed the 30-day notice of termination of the Deposit Agreement to the registered holders of the company's ADRs. The termination of the Deposit Agreement is expected to be effective on or about July 19. | |
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