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Note 9 - Share Capital
3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
9.
Share capital
 
During the
three
-month period ended
March 31, 2020
,
the Company issued
16,564
ordinary shares upon the exercise of options and
40,109
ordinary shares were issued upon the vesting of restricted share units, or RSUs. During the year ended
December 31, 2019
, the Company issued
394,078
ordinary shares upon the exercise of options and
65,405
ordinary shares were issued upon the vesting of RSUs.
 
In
2019,
the Company’s Board of Directors authorized the repurchase of up to
$100
million of its ordinary shares in the aggregate, subject to the approval of its shareholders by an ordinary resolution at its
2019
Annual General Meeting, or the share repurchase program. The share repurchase program was approved by the Company’s shareholders at its Annual General Meeting held on
June 18, 2019.
The Company began repurchasing shares in
September 2019.
For the
four
month period ended
December 31, 2019,
the Company purchased a total of
478,856
shares for a total cost of
$7.0
million. During the
three
-month period ended
March 31, 2020
, the Company repurchas
ed
530,890
 ordinary s
hares at a total cost o
f
$7.7
mill
ion. The share repurchase program allows for a maximum repurchase of
$100
million of the Company’s ordinary shares, including commissions. At 
March 31, 2020
, $
85.3
m
illion of ordinary shares remain eligible for repurchase. In an effort to conserve cash, as a result of the COVID-
19
pandemic, the Company has currently paused its share repurchase program. The repurchase program
may
be resumed by the Company at any time prior to its expiration or earlier termination. The share repurchase program 
may
be suspended, modified or terminated at any time. The Company has
no
obligation to repurchase any amount of its ordinary shares under the program. Unless terminated by the Company's Board of Directors,
the share repurchase program will be valid for up to
five
years.