ANNOUNCEMENT
NO. 11 – 2008
20 May 2008
Report
of transactions in A/S Dampskibsselskabet TORM securities by managerial
staff and connected persons
A/S
Dampskibsselskabet TORM is obliged under section 28a of the Danish
Securities Trading Act to report transactions in A/S Dampskibsselskabet
TORM securities by its managerial staff and connected
persons:
A/S
Dampskibsselskabet TORM has been notified of the following
transaction:
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Name:
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Niels Peter Abildgaard Nielsen | |
Reason:
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Board
Member
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Securities
code (ISIN-kode):
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DK
0060082915
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Description:
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Shares
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Transaction:
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Sale
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Trading
date:
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19
May 2008
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Market:
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OMX
Nordic Exchange Copenhagen
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Number:
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4.800
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Market
value in DKK:
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825,600
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Contact
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A/S
Dampskibsselskabet TORM
Tuborg
Havnevej 18
DK-2900
Hellerup
Denmark
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Telephone: +45
39 17 92 00
Klaus
Kjærulff, CEO
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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 128 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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