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SHARE CAPITAL
 9 Months Ended
Sep. 30, 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 nine months ended September 30, 2025 and 2024:
 20252024
Balance – beginning of period34,831,324 35,336,732 
Issue of shares for vested RSUs (see Note 11)
100,793 74,357 
Issue of restricted shares to directors56,322 58,751 
Forfeiture of restricted shares (see Note 11)
(376,686)(89,945)
Repurchase of ordinary shares
(512,527)(547,402)
Balance – end of period34,099,226 34,832,493 
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 nine months ended September 30, 2025, the Company repurchased 512,527 ordinary shares for $7.0 million (2024: 547,402 ordinary shares for $7.5 million).

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 September 30, 2025, the Company has no issued and outstanding preferred shares.