EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2025

Earnings per share (Note 10):

EARNINGS PER SHARE

10. EARNINGS PER SHARE

The following tables provide a reconciliation of the data used in the calculation of basic and diluted ordinary shares outstanding for the three-month period ended June 30, 2025, the three-month period ended June 30, 2024, the six-month period ended June 30, 2025, and the six-month period ended June 30, 2024, respectively.

Date		Transaction Detail		Change in Shares				Three-month period ended June 30, 2025, Weighted Average Ordinary Shares Outstanding
April 1, 2025		Beginning Balance							96,352,966
April 22, 2025		Settlement of liability-classified share-based compensation			100,001				75,825
June 30, 2025		Ending Balance							96,428,791

Date		Transaction Detail		Change in Shares				Three-month period ended June 30, 2024, Weighted Average Ordinary Shares Outstanding
April 1, 2024		Beginning Balance							95,487,677
April 1, 2024		Restricted Stock Issuance			1,774				1,774
April 23, 2024		Restricted Stock Issuance			1,333				996
May 2, 2024		Return of shares from W.D. Van Gonten Engineering			(82,331	)			(53,379	)
June 30, 2024		Ending Balance							95,437,068

Date		Transaction Detail		Change in Shares				Six-month period ended June 30, 2025, Weighted Average Ordinary Shares Outstanding
January 1, 2025		Beginning Balance							96,045,856
January 6, 2025		Settlement of liability-classified share-based compensation			61,353				59,319
February 17, 2025		Equity-classified Restricted Stock Issuance			666				489
February 27, 2025		Equity-classified Restricted Stock Issuance			1,000				680
March 17, 2025		Equity-classified Restricted Stock Issuance			12,430				7,211
March 18, 2025		Equity-classified Restricted Stock Issuance			231,661				133,109
April 22, 2025		Settlement of liability-classified share-based compensation			100,001				38,122
June 30, 2025		Ending Balance							96,284,786

Date		Transaction Detail		Change in Shares				Six-month period ended June 30, 2024, Weighted Average Ordinary Shares Outstanding
January 1, 2024		Beginning Balance							94,996,397
January 9, 2024		Restricted Stock Issuance			333				317
March 17, 2024		Restricted Stock Issuance			12,751				7,356
March 18, 2024		Restricted Stock Issuance			242,455				138,546
March 19, 2024		Restricted Stock Issuance			235,741				133,414
April 1, 2024		Restricted Stock Issuance			1,774				906
April 23, 2024		Restricted Stock Issuance			1,333				498
May 2, 2024		Return of shares from W.D. Van Gonten Engineering			(82,331	)			(26,690	)
June 30, 2024		Ending Balance							95,250,744

The following tables provide the computation of basic and diluted earnings per share (“EPS”), for the three-month period ended June 30, 2025, the three-month period ended June 30, 2024, the six-month period ended June 30, 2025, and the six-month period ended June 30, 2024, respectively.

		For the three-month period ended
		June 30, 2025												June 30, 2024
		Net income to Ordinary Shareholders				Weighted-average ordinary shares outstanding				EPS				Net income to Ordinary Shareholders				Weighted-average ordinary shares outstanding				EPS

Basic EPS - ordinary shares		$	15,201				96,428,791			$	0.16			$	18,873				95,437,068			$	0.20
Restricted stock units							-												88,611
Antidilution sequencing - subtotal			15,201				96,428,791				0.16				18,873				95,525,679				0.20
35,540,380 warrants @ $5.75 per half share							-												-
May 30, 2025, tender offer to exchange 35,540,380 warrants at a maximum of 0.10 ordinary shares per warrant							1,210,716												-
Diluted EPS - ordinary shares		$	15,201				97,639,507			$	0.16			$	18,873				95,525,679			$	0.20

		For the six-month period ended
		June 30, 2025												June 30, 2024

		Net income to Ordinary Shareholders				Weighted-average ordinary shares outstanding				EPS				Net loss to Ordinary Shareholders				Weighted-average ordinary shares outstanding				EPS

Basic EPS - ordinary shares		$	25,592				96,284,786			$	0.27			$	28,855				95,250,744			$	0.30
Restricted stock units							258,726												233,276
Antidilution sequencing - subtotal			25,592				96,543,512				0.27				28,855				95,484,020				0.30
35,540,380 warrants @ $5.75 per half share							-												-
May 30, 2025, tender offer to exchange 35,540,380 warrants at a maximum of 0.10 ordinary shares per warrant							608,703												-
Diluted EPS - ordinary shares		$	25,592				97,152,215			$	0.26			$	28,855				95,484,020			$	0.30

Prior to the announcement of the exchange offer on May 30, 2025, potentially dilutive warrants had no impact on the determination of dilutive earnings per share as these potential ordinary shares were antidilutive for the three-month period ended June 30, 2025 , the three-month period ended June 30, 2024, the six-month period ended June 30, 2025 , and the six-month period ended June 30, 2024, respectively,.

In addition to the warrants, the Company also had 2,364,667 restricted stock units excluded from dilutive ordinary shares for the three-month period ended June 30, 2025, as they were assumed repurchased through the impact of unrecognized share-based compensation cost.