In January 1592, a new charter was granted and by 1595 its character as a regulated company had become clear. In the early days of the company there were threats not just from Barbary pirates but during the war with Spain in 1586, 1590 and 1591 they successfully repelled Spanish galleys in attempts to capture their cargo. The Company as a result though had heavily armed ships, some of which were surrendered to the Royal Navy and were used during the Spanish Armada campaign.