Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☐No☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes☐No☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filingrequirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule 12b 2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any newor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internalcontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm thatprepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in thefiling reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensationreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ The aggregate market value of the common shares held by non-affiliates of the registrant based on the closing price of the registrant’s common sharesas reported on The Nasdaq Stock Market LLC on June 28, 2024, was approximately $29.0 million. For purposes of this disclosure, common shares heldby each executive officer, director and shareholder known by the registrant to be affiliated with such individuals based on public filings and otherinformation known to the registrant have been excluded since such persons may be deemed affiliates. This determination of executive officer or affiliatestatus is not necessarily a conclusive determination for other purposes. The number of the registrant’s Common Shares outstanding as of March 21, 2025 was 26,305,295. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive proxy statement to be filed pursuant to Regulation 14A under the Securities Exchange Act of 1934, for its 2025Annual General Meeting of Shareholders are incorporated by reference in Part III of this Annual Report on Form 10-K. Table of Contents PagePART I4Item 1.Business4Item 1A.Risk Factors36Item 1B.Unresolved Staff Comments98Item 1C.Cybersecurity98Item 2.Properties99Item 3.Legal Proceedings99Item 4.Mine Safety Disclosures99PART II100Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities100Item 6.Reserved101Item 7.Management’s Discussion and Analysis of Financial Condition and Results ofOperations101Item 7A.Quantitative and Qualitative Disclosures About Market Risk111Item 8.Financial Statements and Supplementary Data111Item 9.Changes in and Disagreements With Accountants on Accounting and FinancialDisclosure111Item 9A.Controls and Procedures111Item 9B.Other Information113Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections114PART III115Item 10.Directors, Executive Officers and Corporate Governance115Item 11.Executive Compensation115Item 12.Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters115Item 13.Certain Relationships and Related Transactions, and Director Independence115Item 14.Principal Accountant Fees and Services115PART IV116Item 15.Exhibit and Financial Statement Schedules116Item 16.Form 10-K Summary118 Special Note Regarding Forward-Looking Statements This annual report contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this annual repo