The Panayotides family is under increasing pressure to make a firm offer for Denmark's Torm as its combined shareholding has now passed the 40% mark.

Gabriel Panayotides
While Gabriel Panayotides through his lawyer claims to own only six shares, his son Alex and sister-in-law Eirini Nomikou between them own or control more than two-thirds of the company, at which point under Danish regulations a public offer for the outstanding shares has to be made.

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