v3.26.1
SHARE CAPITAL
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
SHARE CAPITAL SHARE CAPITAL
Ordinary Shares

The Company’s authorized share capital is 125,000,000 ordinary shares, par value of $0.10 per share.

The following table is a summary of changes in ordinary shares issued and outstanding:

Three months ended March 31
 20262025
Balance – beginning of period
33,897,709 34,831,324 
Issue of shares for vested RSUs (see Note 12)142,828 100,793 
Forfeiture of restricted shares (see Note 12)(56,934)(374,668)
Repurchase of ordinary shares(298,701)— 
Balance – end of period
33,684,902 34,557,449 

Share Repurchase Plan

On May 2, 2025, the Board of Directors re-approved the share repurchase plan, until June 30, 2026, authorizing the Company to repurchase up to $25 million of ordinary shares or securities convertible into ordinary shares in the open market, through privately negotiated transactions or Rule 10b5-1 stock trading plans. Any shares repurchased are canceled immediately upon repurchase. For the three months ended March 31, 2026, the Company repurchased 298,701 ordinary shares for $5.0 million (2025: none).
Preferred Shares

The Company’s authorized share capital also consists of 50,000,000 preference shares with a par value of $0.10 each. At March 31, 2026, the Company has no issued and outstanding preferred shares.