A/S Dampskibsselskabet TORM
Articles of Association of TORM A/S

A/S Dampskibsselskabet TORM / 

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
----------------------------------------------------------------------

--------------------------------------------------------------------------------
|                           ARTICLES OF ASSOCIATION                            |
|                                      of                                      |
|                                   TORM A/S                                   |
--------------------------------------------------------------------------------
| Article 1                                                                    |
--------------------------------------------------------------------------------
| 1.1.	The Company's name is TORM A/S.                                         |
--------------------------------------------------------------------------------
| 1.2.	The Company also carries out business under the secondary names         |
| Aktieselskabet af 3. November 1986 (TORM A/S), BWT 3 ApS (TORM A/S) and      |
| Aktieselskabet Dampskibsselskabet TORM (TORM A/S).                           |
--------------------------------------------------------------------------------
| 1.3.	The Company's registered office is situated in the Municipality of      |
| Gentofte.                                                                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 1.4.	The objects for which the Company has been established are to carry out |
| business within shipping, chartering and other transport services, to make   |
| investments, including in real property, and to carry on such other business |
| as the Board of Directors may deem incidental to the attainment of the said  |
| objects. The objects may be attained by ownership in whole or in part,       |
| including as shareholder, partner or otherwise of any other business which   |
| has one or more of the objects set out above.                                |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Article 2                                                                    |
--------------------------------------------------------------------------------
| 2.1.	The Company's share capital is DKK 364,000,000.00 divided into shares   |
| of DKK 5.00 each or any multiple thereof.                                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 2.2.	The share capital has been fully paid up.                               |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 2.3.	In the period until 1 April 2013, the Company's share capital may at    |
| the discretion of the Board of Directors be increased in one or more issues  |
| of new shares by up to DKK 182m. The increase may be made by cash            |
| contribution or as consideration for the acquisition of all or part of an    |
| existing business or specific assets, including shares.                      |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 2.4.	By virtue of Article 2(3), the Board of Directors may offer the shares  |
| for subscription at market price without the existing shareholders having    |
| any preferential subscription rights.                                        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 2.5.	The new shares, which shall be negotiable instruments, shall be issued  |
| to bearer.                                                                   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 2.6	Until 1 April 2010 the Board of Directors shall be authorised to         |
| increase the share capital in one or more transactions by up nominally DKK   |
| 10,000,000 in total, corresponding to 2,000,000 shares, by cash payment of   |
| not less than DKK 5.25 per share of DKK 5 by subscription among the          |
| employees of the Company and/or of its subsidiaries, without the             |
| shareholders of the Company having any pre-emption rights. The other terms   |
| and conditions for the subscription will be determined by the Board of       |
| Directors. The new shares shall carry the same rights as the existing shares |
| as set out in the Articles of Association of the Company, including that     |
| they shall be negotiable instruments, that they shall be issued to the       |
| holder but may be recorded in the Company's register of shareholders in the  |
| name of the holder, that they shall not be subject to redemption, that there |
| shall be no restrictions to the transferability of the new shares, and that  |
| the new shares shall not confer any special rights on their holders. The     |
| shares shall be subject to the applicable rules on taxation of employee      |
| shares.                                                                      |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Article 3                                                                    |
--------------------------------------------------------------------------------
| 3.1.	The Company's shares shall be negotiable instruments, and the           |
| transferability of the shares shall not be subject to any restrictions.      |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 3.2.	The shares shall be issued through VP SECURITIES A/S and/or under an    |
| American Depositary Receipt Program (ADR Program).                           |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 3.3.	The shares shall be issued to bearer, but may be entered in the         |
| Company's register of shareholders in the name of the holder. The Company    |
| has appointed VP Investor Services A/S (VP Services A/S), Weidekampsgade 14, |
| DK-2300 København S, keeper of the Company's Register of Shareholders for    |
| all shares issued by the Company.                                            |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 3.4.	No share shall confer special rights upon its holder.                   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 3.5.	No shareholder shall be obliged to have his shares redeemed.            |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 3.6.	When the audited annual report has been adopted by the Company in       |
| general meeting, the declared dividend shall be distributed by transfer to   |
| the accounts designated by the shareholders in accordance with the rules on  |
| VP SECURITIES A/S in force from time to time.                                |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 3.7.	Any dividend payable to a shareholder which remains unclaimed for five  |
| years after the due date shall accrue to the Company.                        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 3.8.	The Board of Directors has been authorised by the general meeting to    |
| resolve to distribute interim dividend                                       |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Article 4                                                                    |
--------------------------------------------------------------------------------
| 4.1.	If previously issued shares have been lost and no application for       |
| registration of the shares has been filed with VP SECURITIES A/S, such       |
| shares and appurtenant coupon sheets, talons and interim certificates may on |
| the Company's initiative and at the expense of the applicant be cancelled    |
| without judgment in accordance with the statutory rules on this in force     |
| from time to time.                                                           |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Article 5                                                                    |
--------------------------------------------------------------------------------
| 5.1.	The general meetings of the Company shall be held in Region Greater     |
| Copenhagen.                                                                  |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 5.2.	Annual general meetings shall be held every year before the end of      |
| April.                                                                       |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 5.3.	Proposals made by shareholders shall be submitted in writing to the     |
| Board of Directors not later than 15 February in order to be considered at   |
| the annual general meeting.                                                  |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 5.4.	Extraordinary general meetings shall be held when the Board of          |
| Directors or the auditors think fit. Extraordinary general meetings shall be |
| convened within 14 days if requisitioned in writing by shareholders holding  |
| one-tenth of the share capital for the purpose of considering specific       |
| business.                                                                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 5.5.	General meetings shall be convened four weeks before the general        |
| meeting at the earliest. Annual general meetings shall be convened not later |
| than 14 days before the meeting and extraordinary general meetings shall be  |
| convened not later than eight days before the meeting.                       |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 5.6.	General meetings shall be convened by a notice inserted in the national |
| Danish newspapers Berlingske Tidende and Børsen and in such manner and in    |
| such form as may at any time be required by the stock exchanges on which the |
| Company's shares or ADR receipts (American Depositary Receipts) are listed.  |
| Written notice of the meeting shall, however, be given to all shareholders   |
| entered in the Company's register of shareholders and/or to all ADR holders  |
| who have registered their holdings with the Company on request.              |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 5.7.	The notice convening the general meeting shall specify the business to  |
| be transacted at the meeting. If proposals for amendments to the Articles of |
| Association are to be considered, the essential aspects of the proposal      |
| shall be stated in the notice.                                               |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Article 6                                                                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 6.1. 	On 22 April 2009, the Annual General Meeting resolved to authorise the |
| Board of Directors to i) fix the date for introduction of communication by   |
| electronic means pursuant to Articles 6(3) - 6(6) below and at the same time |
| to ii) make all necessary amendments to the Articles of Association.         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 6.2. 	The Board of Directors shall notify the Company's shareholders about   |
| the date of introduction of communication by electronic means.               |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 6.3. 	The Company shall be entitled to give any notices to the Company's     |
| shareholders under the Danish Public Companies Act or these Articles of      |
| Association by electronic mail, and documents may be made available or       |
| forwarded in electronic form. The annual report and any other notices        |
| required to be given to the shareholders by law must, however, always be     |
| available in paper version and forwarded to any shareholders having so       |
| requested.                                                                   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 6.4. 	The Management Board will ask all shareholders recorded in the         |
| Company's register of shareholders to provide their current email addresses  |
| to which notices etc., cf. Article 6(1) above, may be given. It is the       |
| responsibility of the shareholder to provide the Company with a correct and  |
| current email address.                                                       |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 6.5. 	At the discretion of the Board of Directors, the above form of         |
| communication may also be used for communication between the Company and the |
| members of the Board of Directors.                                           |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 6.6.	Information on system requirements and the use of electronic            |
| communication shall be provided directly to the shareholders by the          |
| Company's Management Board or be published on the Company's website.         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Article 7                                                                    |
--------------------------------------------------------------------------------
| 7.1.	The agenda for the annual general meeting shall be as follows:          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 	1.	Director's report on the activities of the Company in the past year.     |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 	2.	Presentation for adoption of the annual report.                          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 	3.	The Board of Director's proposal for the appropriation of profits or     |
| provision for losses in accordance with the adopted annual report.           |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 	4.	Election of members to the Board of Directors.                           |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 	5.	Appointment of auditor/auditors.                                         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 	6.	Any other business and notices.                                          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Article 8                                                                    |
--------------------------------------------------------------------------------
| 8.1	Any shareholder and any ADR holder shall be entitled to attend the       |
| general meeting provided he has, no later than four days before the meeting, |
| obtained an admission card for the meeting from the office of the Company on |
| presentation of due evidence of authority or by referring to registration of |
| shares or ADR's.                                                             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 8.2.	The issue of an admission card requires documentation for the title to  |
| shares or ADR's not registered in the name of a holder in the form of a      |
| deposit receipt issued within the last ten business days by VP SECURITIES    |
| A/S or the depositary bank and a written declaration showing that the shares |
| or ADR's have not or will not be transferred until, at the earliest, the day |
| after the general meeting for which the admission card is required.          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 8.3.	Each share of DKK 5.00 shall give its holder the right to one vote.     |
| Shares acquired by transfer shall not carry any voting rights unless the     |
| shareholder has registered his shares or has given notice of or provided     |
| documentation for his acquisition at the latest on the day before the        |
| general meeting is advertised in the Danish national newspapers, Berlingske  |
| Tidende and Børsen.                                                          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 8.4.	The shareholder and the ADR holder shall be entitled to attend the      |
| general meeting by proxy.                                                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 8.5.	The proxy shall produce a written and dated instrument appointing him   |
| as proxy which cannot be given for a period exceeding one year.              |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Article 9                                                                    |
--------------------------------------------------------------------------------
| 9.1.	The Board of Directors shall appoint a chairman to preside the general  |
| meeting and decide all matters relating to the transaction of business and   |
| the voting, always provided that any voting shareholder may demand that the  |
| resolutions put to the vote of the meeting should be decided by poll.        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Article 10                                                                   |
--------------------------------------------------------------------------------
| 10.1.	General meetings can only form a quorum provided that at least 1/3 of  |
| the share capital is represented.                                            |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 10.2.	At general meetings, all resolutions shall be passed with simple       |
| majority.                                                                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 10.3.	Any adoption of resolutions for amendment of the Articles of           |
| Association, the dissolution or merger of the Company with another company   |
| or firm, the use of the Company's foundation, rejection of the annual report |
| and/or the Directors' proposal for appropriation of profits, appointment of  |
| member(s) of the Company's Board of Directors requires that at least 3/5 of  |
| the share capital is represented at the general meeting and that the         |
| resolution is adopted by at least 2/3 of all votes cast unless any such      |
| resolution is proposed by the Company's Board of Directors. Any resolution   |
| for the amendment of the Company's Articles of Association is further        |
| subject to the conditions set out in Sections 78-79 of the Danish Companies  |
| Act.                                                                         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 10.4.	In the event that shareholders have at the annual general meeting      |
| decided by simple majority not to adopt the Company's annual report, the     |
| general meeting may, notwithstanding the above, decide by simple majority to |
| submit the annual report for a new audit.                                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 10.5.	In the event that a general meeting has been convened for the purpose  |
| of adopting a resolution requiring qualified majority and if an insufficient |
| number of shares are represented at such meeting, the Board of Directors     |
| shall as soon as possible convene a new general meeting at which the         |
| proposal, irrespective of the number of shares represented, may be adopted   |
| by 5/6 of all votes unless 1/3 of the votes represented is against the       |
| proposal at the first general meeting. Instruments appointing a proxy for    |
| the first general meeting shall, unless expressly revoked, be valid also for |
| the second general meeting.                                                  |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 10.6.	If a resolution is passed by simple majority in accordance with the    |
| second paragraph of this Article, the following shall apply:                 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 	In case of equality of votes in connection with the election of members to  |
| the Board of Directors, auditor/auditors or liquidators, the matter shall be |
| decided by lot between the relevant persons. A proposal shall otherwise be   |
| deemed rejected if an equal number of votes has been cast for and against    |
| the proposal.                                                                |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Article 11                                                                   |
--------------------------------------------------------------------------------
| 11.1.	The proceedings of the general meeting shall be briefly recorded in a  |
| minute book authorized by the Board of Directors for this purpose, and the   |
| minutes shall be signed by the chairman of the meeting and the members of    |
| the Board of Directors present at the meeting.                               |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Article 12                                                                   |
--------------------------------------------------------------------------------
| 12.1.	The Company shall be managed by a Board of Directors made up of a      |
| minimum of three and a maximum of eight members elected from among the       |
| shareholders by the Company in general meeting. If employee directors have   |
| been elected in accordance with the provisions of the Danish Companies Act,  |
| such employee directors shall join the Board of Directors in accordance with |
| the rules in force from time to time.                                        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 12.2.	The members of the Board of Directors elected by the Company in        |
| general meeting shall hold office for a term of four years so that they      |
| resign at the fourth annual general meeting after the general meeting at     |
| which they were elected. Any employee directors shall retire in accordance   |
| with the provisions of the Danish Companies Act.                             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 12.3.	Retiring members of the Board of Directors shall be eligible for       |
| re-election.                                                                 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 12.4.	If, at a general meeting, a shareholder wants to propose a person      |
| other than a retiring member of the Board of Directors or if a new member    |
| has been proposed by the Board of Directors, notice stating the name of the  |
| candidate shall be submitted to the Board of Directors not later than eight  |
| days before the general meeting in question.                                 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Article 13                                                                   |
--------------------------------------------------------------------------------
| 13.1.	The Board of Directors shall appoint a managing director to be in      |
| charge of the day-to-day management of the Company, and possibly one or more |
| managers.                                                                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 13.2.	The Board of Directors shall be entitled to buy, sell and mortgage     |
| real property and ships.                                                     |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 13.3.	The Board of Directors shall appoint from among its members a chairman |
| and a deputy chairman to substitute the chairman in his absence.             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 13.4.	The Board of Directors may grant individual or joint power of          |
| procuration.                                                                 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 13.5.	The Board of Directors shall lay down rules of procedure for the       |
| performance of its duties. The Board of Directors shall make its decisions   |
| by a simple majority of votes. In case of equality of votes, the chairman    |
| shall have the casting vote.                                                 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 13.6.	The members of the Board of Directors shall receive a fixed emolument. |
| The total proposed emolument shall be included in a special note in the      |
| annual report and be presented for adoption together with the annual report. |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 13.7.	At the Company's Annual General Meeting held on 22 April 2009, the     |
| shareholders adopted the overall guidelines for the Company's incentive plan |
| to members of the Management Board and the Board of Directors, cf. s. 69b of |
| the Danish Companies Act. The guidelines are available at the Company's      |
| website www.torm.com.                                                        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Article 14                                                                   |
--------------------------------------------------------------------------------
| 14.1.	The Company shall be bound by the joint signatures of three members of |
| the Board of Directors, one of whom shall be the chairman or the deputy      |
| chairman, or by the joint signatures of two members of the Board of          |
| Directors, one of whom shall be the chairman or the deputy chairman, and the |
| Managing Director.                                                           |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Article 15                                                                   |
--------------------------------------------------------------------------------
| 15.1.	The annual reports of the Company shall be audited by one or two       |
| auditors, at least one of whom shall be a state-authorised public            |
| accountant. The auditor/auditors shall be appointed by the Company in        |
| general meeting for a term of one year.                                      |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Article 16                                                                   |
--------------------------------------------------------------------------------
| 16.1.	The Company's accounting year shall be the calendar year.              |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| As adopted at the Annual General Meeting held on 22 April 2009.              |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

				                                                                            
Note: 	These Articles of Association are prepared in both a Danish and an       
English version. In the event of a conflict between them, the Danish version    
shall prevail.Jan Erlund, Chairman of Meeting

News Source: NASDAQ OMX

24.04.2009  Financial News transmitted by DGAP
----------------------------------------------------------------------
 
Language:     English
Issuer:       A/S Dampskibsselskabet TORM
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0010281468
WKN:          
 
End of News                                     DGAP News-Service
 
---------------------------------------------------------------------------