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2016-10-14

TORM plc: Existing Long-Term Incentive Program re-established at TORM plc level and reporting of transactions

During the corporate reorganization of the TORM Group, the TORM A/S shares
were replaced by TORM plc shares (cf. company announcement no. 13 dated 19
April 2016). Therefore TORM plc ("TORM") has adopted a Long-Term Incentive
Program ("LTIP") which will replace the Long-Term Incentive Program
established by TORM A/S (the "Original LTIP") on 18 January 2016. The LTIP
will continue the Original LTIP on materially similar terms. The restricted
share units ("RSUs") under the Original LTIP will therefore be replaced with
RSUs under the new LTIP to the extent the participants under the Original
LTIP are still employed with the TORM Group.

Summary of the Original LTIP (cf. company announcement no. 2 dated 18 January
2016)

Participants under the Original LTIP have been granted a total of 2,127,392
RSUs of which 1,276,725 RSUs have been granted to the Executive Director of
TORM. Subject to vesting, each RSU entitles the holder to acquire one TORM
A-share. The RSUs will vest over a three-year period from the grant date
under the Original LTIP, with one third of the grant amount vesting at each
anniversary during the three-year period. For the Executive Director of TORM,
the RSUs will vest over a five-year period from the grant date under the
Original LTIP, with one fifth of the grant amount vesting at each anniversary
during the five-year period. For RSUs granted in 2016, the exercise price for
each TORM A-share is DKK 96.3. Vested RSUs may be exercised for a period of
six months from the vesting date, and 12 months for the Executive Director.

As the new LTIP is a continuation of the Original LTIP, no updated theoretical
market value has been prepared, and reference is made to the company
announcement no. 2 dated 18 January 2016 referred to above.
Report of transactions in TORM plc securities by directors, managerial staff
and related persons

TORM plc has been notified of the following transaction in TORM plc
securities:

--------------------------------------------------------------------------------------------------------------------------------
| 1. Information of the person discharging managerial responsibilities/person |
| closely associated |
| a) Name Jacob Meldgaard |
| 2. Reason for the notification |
| a) Position/status Executive director |
| b) Initial notification/amendment Initial notification |
| 3. Information of the issuer |
| a) Name TORM Plc |
| b) LEI N/A |
| 4. Details of the transaction(s): section to be repeated for (i) each type of |
| instrument; (ii) each type of transaction; (iii) each date; and (iv) each |
| place where transactions have been conducted |
| a) Description of the financial instrument, type of instrument Restricted Share Unit |
| |
| |
| |
| |
| Identification code |
| b) The nature of the transaction Grant of RSUs under TORM Plc' Long Term Incentive Programme |
| c) Price(s) and volume(s) Price(s) Volume(s) |
| Zero 1,276,725 |
| d) Aggregated information N/A |
| |
| |
| - Aggregated volume |
| - Price |
| e) Date of the transaction 14 October 2016 |
| f) Place of the transaction Outside a trading venue |
--------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------
| CONTACT TORM plc |
| Christian Mens, IR, tel.: +45 3917 9231 27 Old Gloucester Street |
| London WC1N 3AX, United Kingdom |
| Tel.: +45 3917 9200 / Fax: +45 3917 9393 |
| www.torm.com |
-------------------------------------------------------------------------------------

ABOUT TORM

TORM is one of the world's leading carriers of refined oil products. The
Company operates a fleet of approximately 80 modern vessels with a strong
commitment to safety, environmental responsibility and customer service. TORM
was founded in 1889. The Company conducts business worldwide. TORM's shares
are listed on Nasdaq Copenhagen (ticker: TRMD A). For further information,
please visit www.torm.com.

SAFE HARBOR STATEMENTS AS TO THE FUTURE

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 statements other than statements of historical facts. The
words "believe," "anticipate," "intend," "estimate," "forecast," "project,"
"plan," "potential," "may," "should," "expect," "pending" and similar
expressions generally identify forward-looking statements.

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 the Company believes that these assumptions were
reasonable when made, because these assumptions are inherently subject to
significant uncertainties and contingencies that are difficult or impossible
to predict and are beyond our control, the Company cannot guarantee 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 the world economy and currencies, changes in charter hire rates
and vessel values, changes in demand for "ton 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 the regulation of shipping operations,
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, political events or acts by terrorists.

In light of these risks and uncertainties, you should not place undue reliance
on forward-looking statements contained in this release because they are
statements about events that are not certain to occur as described or at all.
These forward-looking statements are not guarantees of our future
performance, and actual results and future developments may vary materially
from those projected in the forward-looking statements.

Except to the extent required by applicable law or regulation, the Company
undertakes no obligation to release publicly any revisions to these
forward-looking statements to reflect events or circumstances after the date
of this release or to reflect the occurrence of unanticipated events.

18-2016 - TORM plc-Existing LTIP and reporting of transactions - UK
http://hugin.info/172019/R/2049121/766267.pdf

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: TORM plc via Globenewswire

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