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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($)
$ in Thousands
Common shares
Share premium
Treasury shares
Hedging reserves
Translation reserves
Retained profit
Total
Equity at Dec. 31, 2015 $ 638   $ (176) [1] $ 1,400 $ 160 $ 973,954 $ 975,976
Comprehensive income/loss for the year:              
Net profit/(loss) for the year           (142,491) (142,491)
Other comprehensive income/(loss) for the year       (1,010) (180) (60) (1,250) [2]
Total comprehensive income/(loss) for the year       (1,010) (180) (142,551) (143,741)
Corporate Reorganization TORM plc           (6,564) (6,564)
Acquisition of outstanding shares in TORM A/S, cost [3] (15)   176 [1]     (19,396) (19,235)
Acquisition of treasury shares, cost     (2,887)       (2,887)
Share-based compensation           2,029 2,029
Dividend paid           (25,000) (25,000)
Total changes in equity (15)   (2,711) [1] (1,010) (180) (191,482) (195,398)
Equity at Dec. 31, 2016 623   (2,887) [1] 390 (20) 782,472 780,578
Comprehensive income/loss for the year:              
Net profit/(loss) for the year           2,407 2,407
Other comprehensive income/(loss) for the year       6,919 240 120 7,279 [2]
Total comprehensive income/(loss) for the year       6,919 240 2,527 9,686
Corporate Reorganization TORM plc           146 146
Share-based compensation           1,880 1,880
Dividend paid           (1,240) (1,240)
Total changes in equity       6,919 240 3,313 10,472
Equity at Dec. 31, 2017 623   (2,887) [1] 7,309 220 784,907 791,050
Comprehensive income/loss for the year:              
Net profit/(loss) for the year           (34,779) (34,779)
Other comprehensive income/(loss) for the year [4]       (7,055) (316) (48) (7,419) [2]
Total comprehensive income/(loss) for the year       (7,055) (316) (34,827) (42,198)
Capital increase 119 $ 99,880         99,999
Transaction costs capital increase   (2,788)         (2,788)
Share-based compensation           2,026 2,026
Total changes in equity 119 97,092   (7,055) (316) (32,801) 57,039
Equity at Dec. 31, 2018 742 $ 97,092 (2,887) [1] 254 (96) 752,106 847,211
Changes in Stockholders' Equity [Roll Forward]              
Adjusted equity as of 1 January 2018 $ 623   $ (2,887) [1] $ 7,309 $ 220 785,785 791,050
Effect as of 1 January 2018 of new IFRS standards implemented [5]           $ (878) $ (878)
[1] Please refer to note 12 for further information on treasury shares.
[2] No income tax was incurred relating to other comprehensive income/(loss) items.
[3] Relates to the squeeze-out of remaining minority shareholders in TORM A/S.
[4] Please refer to "Consolidated Statement of Comprehensive Income".
[5] Please refer to note 1 for description of new IFRS standards implemented.