5.Treasury shares | | | | | | | | | | | Number of shares | | Cost of shares | | | 30 June | | 30 June | | 30 June | | 30 June | | | 2026 | | 2025 | | 2026 | | 2025 | | | ‘000 | | ‘000 | | US$’000 | | US$’000 | At beginning of the financial period | | 7,939 | | 7,743 | | 50,372 | | 48,387 | Purchases of treasury shares | | — | | 317 | | — | | 2,739 | Share options exercised | | (472) | | (121) | | (2,995) | | (754) | At end of the financial period | | 7,467 | | 7,939 | | 47,377 | | 50,372 |
Pursuant to the Company’s long-term management share option plans, announced on 1 March 2022 (“LTIP 2022”): | (a) | participants of the LTIP 2022 exercised vested options granted under LTIP 2022 during Q1 2025; 120,647 shares were transferred at an average strike price of US$4.54 (NOK 46.6) per share. |
| (b) | participants of the LTIP 2022 exercised vested options granted under LTIP 2022 during Q1 2026; 471,951 shares were transferred at an average strike price of US$4.57 (NOK 43.6) per share. |
On 8 April 2025, the Board of Directors of the Company approved a share buyback program under which the Company may purchase up to 3 million ordinary shares for a maximum amount of US$20.0 million. The program commenced on 8 April and finalised on 17 April 2025. During this period, the Company acquired a total of 316,437 ordinary shares at an average price of US$8.63 per share for a total consideration of US$2,732,109.
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