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SHARE CAPITAL | 3 Months Ended
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Mar. 31, 2025
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 for the three months ended March 31, 2025 and 2024:
| 2025 |  | 2024
Balance – beginning of period | 34,831,324 |  |  | 35,336,732 |
Issue of shares for vested RSUs (see Note 11) | 100,793 |  |  | 74,357 |
Forfeiture of restricted shares (see Note 11) | (374,668) |  |  | (89,945) |
Balance – end of period | 34,557,449 |  |  | 35,321,144 |
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 $25.0 million of 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, 2025 and 2024, there was no repurchase of ordinary shares. 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, 2025, the Company has no issued and outstanding preferred shares.

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