Company: ASC
Filing Date: 2025-03-07
Form Type: 20-F
Source: 0001558370-25-002500
Chunk: 199

Company: Ardmore Shipping Corp
Filing Date: 2025-03-07
Form: 20-F
Item: Item 19
Chunk 199
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 2023, the Company's Board of Directors authorized a new share repurchase plan, expanding and replacing the Company's earlier plan. Pursuant to the 2023 share repurchase plan, the Company may purchase up to $50million of its common shares at times and at prices that are considered to be appropriate by the Company. The Company may repurchase these shares in the open market or in privately negotiated transactions, but is not obligated under the terms of the plan to repurchase any shares, and at any time, the Company may suspend, delay or discontinue the plan. During the year ended December 31, 2024, the Company repurchased1,556,203common shares at a weighted-average per share price of $11.49(including fees and commission of $0.03per share) for a total cost of $17.9million. The shares were repurchased on the open market and were therefore at market price.

During the years ended December 31, 2023 and 2022, the Company effectednocommon share repurchases.

17. Commitments and Contingencies

From time to time, the Company may be subject to legal proceedings and claims in the ordinary course of its business. Such claims, even if lacking merit, could result in the expenditure of significant financial and managerial resources. The Company is not aware of any such legal proceedings or claims that it believes will have, individually or in the aggregate, a material effect on the Company, its financial condition, results of operations or cash flows.

18. Subsequent Events

OnFebruary 13, 2025, Ardmore announced that its Board of Directors declared a cash dividend of $0.08per common share for the quarter ended December 31, 2024. The cash dividend of approximately $3.2million will be paid onMarch 14, 2025, to all common shareholders of record onFebruary 28, 2025.

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