ShippingWatch

Torm terminates ADR program and delists in the U.S.

The shipping company Torm terminates its ADR program and is thereby planning a delisting from the NASDAQ in the U.S., the company informs in a stock exchange announcement.

On a previous annual general meeting in April of this year, Torm decided to delist its securities from the U.S. National Association of Securities Dealers Automated Quotations (NASDAQ). Now this process has begun, it emerges from a stock exchange announcement in which Torm terminates its ADR program.

“The Board of Directors 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,” writes Torm in the announcement.

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