v3.23.2
SHARE CAPITAL
 6 Months Ended
Jun. 30, 2023
Equity [Abstract]  
SHARE CAPITAL SHARE CAPITAL
The following table is a summary of the Company’s ordinary shares issued and outstanding:
Six months ended June 30Six months ended June 30
 20232022
Class AClass BClass AClass B
Balance – beginning of period28,569,346 6,254,715 27,589,731 6,254,715 
Issue of ordinary shares, net of forfeitures447,952 — 876,785 — 
Repurchase of ordinary shares— — — — 
Balance – end of period29,017,298 6,254,715 28,466,516 6,254,715 

Under the $25.0 million share repurchase plan approved by the Board of Directors, expired on June 30, 2023, the Company repurchased no Class A ordinary shares during the six months ended June 30, 2023 and 2022. On May 2, 2023, the Board of Directors re-approved the share repurchase plan effective from July 1, 2023 until June 30, 2024, authorizing the Company to repurchase up to $25.0 million of Class A ordinary shares or securities convertible into Class A ordinary shares in the open market, through privately negotiated transactions or Rule 10b5-1 stock trading plans. Any shares repurchased are canceled immediately upon repurchase.
Under the Company’s stock incentive plan (see Note 9), the number of Class A ordinary shares authorized for issuance is 8.0 million shares. At June 30, 2023, 1,362,165 (December 31, 2022: 2,011,426) Class A ordinary shares remained available for future issuance under the Company’s stock incentive plan. The Compensation Committee of the Board of Directors administers the stock incentive plan.