Item 2. Unregistered Sales of Equity Securities
ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES, USE OF PROCEEDS, AND ISSUER PURCHASES OF EQUITY SECURITIES.
Purchases
of Equity Securities by the Issuer and Affiliated Purchasers
The
Company approved a share repurchase program on April 18, 2023 authorizing to purchase up to 1,000,000 ordinary shares at a maximum price
of $10 per share from the open market, for a term of one year, expiry in April 2024. The Company did not repurchase ordinary shares or
entered into 10b5-1 plan during the three months period ended September 30, 2023. The Company adopted its share repurchase plan with
the goal of returning excess capital to shareholders in accordance with our capital allocation policy. The share repurchase plan permits
the exercise of the plan through open-market repurchases, private transactions and other similar transactions.
Company
Rule 10b5-1 Trading Arrangements
The
Company did not repurchase ordinary shares or entered into 10b5-1 plan during the three months period ended September 30, 2023.
Other
Information
During
the quarter ended September 30, 2023, none of the Company’s directors or officers who are subject to the filing requirements of
Section 16 of the Securities Exchange Act adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1
trading arrangement,” as those terms are defined in Regulation S-K, Item 408.
18
ITEM 3.
DEFAULTS UPON SENIOR SECURITIES.
None.
ITEM
4. MINE SAFETY DISCLOSURES.
Not
applicable.
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