Ardmore Shipping Corp

6-K 1 asc-20250505x6k.htm 6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Date of report: May 5, 2025

Commission File Number: 001-36028

ARDMORE SHIPPING CORPORATION

(Translation of registrant’s name into English)

Dorchester House

7 Church Street

Hamilton HM 11

Bermuda

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F☒ Form 40- F☐

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Attached as Exhibit I to this Report on Form 6-K is a copy of the Proxy Statement of Ardmore Shipping Corporation (the “Company”), dated May 5, 2025.

THIS REPORTON FORM 6-KIS HEREBY INCORPORATED BY REFERENCE INTO THE FOLLOWING REGISTRATION STATEMENTS OF THE COMPANY:

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

NOTICE OF

Annual Meeting and

Proxy Statement

LETTER FROM OUR CEO & OUR PRESIDENT

Dear Shareholders,

It is a pleasure to address you through this proxy statement. Following the retirement of our founder and CEO, Anthony Gurnee, in September 2024, we are privileged to take over as CEO and President and to lead Ardmore into the future. Our Board successfully steered the Company through the leadership transition, and we are honored to have since joined the Board and to be able to further contribute to Ardmore’s success through these appointments.

We remain dedicated to our guiding principles of performance and progress. As such, we are incredibly proud of the performance and progress which Ardmore made in 2024 reflected in our results. We reported adjusted earnings of $120 million, or $2.84 per share, +5% over the strong 2023 results. Our platform and exceptional commercial and operational teams allow us to thrive in a wide range of global economic scenarios.

We have been diligent in executing our capital allocation priorities, investing in our fleet, reducing leverage, and returning capital to shareholders. In 2024, we completed five drydockings with a total capital expenditure of $25 million, including $14 million spent on energy efficiency technologies. Additionally, we reduced our leverage by executing purchase options on our remaining two leased vessels and redeeming $10 million of preferred shares. We continue to pay a consistent dividend of one-third of adjusted earnings. In addition, we repurchased 4% of our shares during the fourth quarter.

One of our most prized features will always be our dedicated and talented team, with strong collaboration between seafarers and onshore staff driving our continued progress. We would like to especially recognize the crucial role our seafarers play in ensuring the smooth functioning of global supply chains. In an increasingly dangerous world, their safety remains a top priority for Ardmore.

Our Energy Transition Team continues to collaborate with customers, technology providers, and our broader organization to develop valuable projects and source enhancements for our fleet. Their focus is on reducing emissions while simultaneously enhancing performance. Aligned with our energy transition plan, we are leveraging a growing suite of AI and digitalization tools to enhance our commercial and operational performance.

In terms of our overall corporate governance, we are pleased to be recognized again as the number one ranked publicly traded tanker company on the Webber ESG scorecard, which recognizes companies in the industry that prioritize strong corporate governance and capital stewardship.

We appreciate your continued investment in Ardmore Shipping Corporation and ask for your support at the upcoming 2025 annual meeting of shareholders, to be held on June 17, 2025. Additional detail and information about the annual meeting, the proposals to be voted upon, and our company is provided in the following pages.

Sincerely,

2025 ANNUAL MEETING OF SHAREHOLDERS

NOTICE OF ANNUAL MEETING AND PROXY STATEMENT