Pacific Basin re-designs director, continues share buyback program

Pacific Basin Shipping Limited announced the re-designation of Mr. Mats Henrik Berglund from a non-executive director to an independent non-executive director, effective November 21, 2025. Mr. Berglund will continue serving on the nomination and sustainability committees and will receive an annual fee of HK$800,000 for his INED role. The re-designation aligns with Stock Exchange Listing Rules despite his prior tenure.

Concurrently, the company continued its share repurchase program. On November 21, 2025, Pacific Basin repurchased 8,000,000 ordinary shares on the Exchange at prices ranging from HK$2.6 to HK$2.63, with an aggregate cost of HK$20,939,200.

These repurchases contribute to a total of 74,905,000 shares bought back under a mandate issued on April 25, 2025, which authorized repurchases up to 513,699,014 shares. The repurchased shares will be cancelled. The latest repurchase represents 0.154% of the shares outstanding as of the closing balance date.