Benzinga | Sep 29, 2020 08:37AM EDT

Ardmore Shipping Announces $30M Buyback

HAMILTON, Bermuda, Sept. 29, 2020 /PRNewswire/ --Ardmore Shipping Corporation (NYSE:ASC) ("Ardmore" or the "Company") today announced that the Company's Board of Directors has authorized a new Share Repurchase Plan (the "New Plan"), expanding and replacing the Company's earlier plan.

Pursuant to the New Plan, Ardmore may purchase up to $30 million of the Company's common shares through to September 30, 2023, at times and prices that are considered to be appropriate by the Company. Ardmore expects to 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 Ardmore may suspend, delay or discontinue the plan.