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Consolidated Statement of Changes in Equity

For the years ended December 31, 2023, 2022 and 2021

(Expressed in thousands of U.S. Dollars)

Issued Share CapitalShare Premium(Accumulated Deficit)Total Equity
As at January 1, 202112195,102(153,020)42,094
Income for the year——14,95014,950
Other comprehensive income————
Total comprehensive income——14,95014,950
Share-based payments—40—40
Issuance of new common shares (Note 9)6089,520—89,580
Issuance of new common shares due to exercise of Warrants (Note 9)1015—25
Issuance of Class B preferred shares (Note 4)—130—130
Transaction costs on issue of new common shares (Note 9)—(401)—(401)
As at December 31, 202182284,406(138,070)146,418
Income for the year——24,28024,280
Other comprehensive income————
Total comprehensive income——24,28024,280
As at December 31, 202282284,406(113,790)170,698
Income for the year——5,2725,272
Other comprehensive income————
Total comprehensive income——5,2725,272
As at December 31, 202382284,406(108,518)175,970
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