Company: ASC
Filing Date: 2025-03-07
Form Type: 20-F
Source: 0001558370-25-002500
Chunk: 167

Company: Ardmore Shipping Corp
Filing Date: 2025-03-07
Form: 20-F
Item: Item 19
Chunk 167
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  Cash paid during the period for interest in respect of debt                                                                                  4,547       7,957       5,739  
  Cash paid during the period for interest in respect of finance leases                                                                        1,500       3,718      11,559  
  Cash paid during the period for operating lease liabilities (offices)                                                                          689         881         719  
  Cash paid during the period for operating lease liabilities (time charter-in contracts)                                                     14,859      13,744       5,982  
  Cash paid during the period for income taxes                                                                                                   112         537          51  
  Non-cash financing activity. Non cash conversion from term loan to revolving facility                                                       44,200           —           —  
  Non-cash operating activity: ROU / lease liability increase in respect of time-charter extensions                                            7,327           —           —  
  Non-cash financing activity: Accrued preferred dividends                                                                                       433         578         578  
  Non-cash investing activity. Movement in accruals during the period in respect of ballast water treatment systems and scrubber systems         194         765      ( 887)  

The accompanying notes are an integral part of these consolidated financial statements.

F-10

Table of Contents

Ardmore Shipping Corporation

Notes to the Consolidated Financial Statements

1. Overview

1.1. Background

Ardmore Shipping Corporation (NYSE: ASC) (“ Ardmore”), together with its subsidiaries (collectively the “ Company”), provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies, with its modern, fuel-efficient fleet of mid-size product and chemical tankers and the Company operates its business inoneoperating segment, the transportation of refined petroleum products and chemicals. As of December 31, 2024, the Company had22owned vessels andfourchartered-in vessels in operation. The average age of the Company’s owned fleet as of December 31, 2024 was10.3years.

1.2. Management and organizational structure

Ardmore was incorporated in the Republic of the Marshall Islands on May 14, 2013. Ardmore commenced business operations through its predecessor company, Ardmore Shipping LLC, on April 15, 2010.

As of December 31, 2024, Ardmore had (a)79wholly owned subsidiaries