NASDAQ notification of bid price non-compliance

News Release TORM A/S January 6, 2012

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TORM has received a letter from the listing qualifications
department staff of the NASDAQ Stock
Market LLC (“NASDAQ”), notifying the Company that for 30
consecutive business days the bid price
of the Company’s American Depository Shares (ADS) had closed below
USD 1.00 per share, the
minimum closing bid price required by the continued listing
requirements of NASDAQ set forth in
Listing Rule 5450(a)(1).
In accordance with Listing Rule 5810(c)(3)(A), the Company has 180
calendar days, or until 26 June
2012, to regain compliance. The notification advises that such
compliance can be achieved if, at any
time before 26 June 2012, the bid price of the Company’s ADS
closes at USD 1.00 or more per share
for a minimum of 10 consecutive business days.
If TORM does not regain compliance within this period, it may be
eligible for additional time to regain
compliance by filing a listing application to transfer its ADS to
the NASDAQ Capital Market and
satisfying certain other requirements.
The notification letter has no effect at this time on the listing
of the Company's ADS on NASDAQ. The
Company's ADS will continue to trade on NASDAQ under the symbol
"TRMD".
TORM will monitor the bid price for its ADS between now and 26
June 2012, and will consider the
available options to resolve the deficiency and regain compliance
with the NASDAQ minimum bid
price requirement.
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