Company: ASC
Filing Date: 2025-03-07
Form Type: 20-F
Source: 0001558370-25-002500
Chunk: 120

Company: Ardmore Shipping Corp
Filing Date: 2025-03-07
Form: 20-F
Item: Item 5
Chunk 120
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 of our owned vessels was $550.4 million. As such, management have concluded that there were no indicators of impairment on any of our vessels during 2024, and as such we have not recorded an impairment charge for the year ended December 31, 2024.

We believe that all 22 of our owned vessels’ basic market values exceeded their carrying values as of December 31, 2024 and December 31, 2023. We did not record an impairment of any vessels due to our impairment accounting policy for the years ended December 31, 2024 and 2023.

Recent Accounting Pronouncements

Please see Note 2.4 “ Recent accounting pronouncements” to our consolidated financial statements included in Item 18 of this Annual Report for a description of recently issued accounting pronouncements that may apply to us.

Safe Harbor

Forward-looking information discussed in this Item 5 includes assumptions, expectations, projections, intentions and beliefs about future events. These statements are intended as “forward-looking statements”.

Table of Contents

We caution that assumptions, expectations, projections, intentions and beliefs about future events may and often do vary from actual results and the differences can be material. Please see the section entitled “ Forward-Looking Statements” at the beginning of this Annual Report.

Item 6. Directors, Senior Management and Employees

A. Directors and Senior Management

Set forth below are the names, ages and positions of our directors and executive officers. Our board of directors currently consists of seven directors. Each director elected holds office for a three-year term or until his or her successor has been duly elected and qualified, except in the event of the director’s death, resignation, removal or the earlier termination of the director’s term of office. The term of office of each director is as follows: Class I directors serve for a term expiring at the 2026 annual meeting of shareholders, Class II directors serve for a term expiring at the 2027 annual meeting of shareholders, and Class III directors serve for a term expiring at the 2025 annual meeting of the shareholders. Officers are elected from time to time by vote of our board of directors and hold office until a successor is elected. The business address for each director and executive officer is Dorchester House, 7 Church Street, Hamilton, HM11, Bermuda.

  Name                           Age      Class      Position                                                                                                                                                    
  Mr. Mats Berglund               62      I          Director, Chair of the Talent and Compensation Committee and Member of the Nominating and Corporate