Pharos Energy PLC has announced the purchase and cancellation of a number of its ordinary shares as part of its share buyback programme. On 10 May 2024, the company bought 39,701 ordinary shares at a volume weighted average price of 22.6600 pence per share through Peel Hunt LLP. Following the purchase and cancellation, the company will have 429,226,002 ordinary shares in issue, with 9,122,268 ordinary shares held in treasury.
Since the initiation of the earlier phase of the share buyback programme in July 2022, Pharos Energy PLC has purchased a total of 23,119,425 ordinary shares for cancellation at a cost of £5,398,281.17, excluding stamp duty and dealing expenses. The company has provided detailed information on the individual trades made by Peel Hunt as part of the programme, in accordance with the Market Abuse Regulation.
The company has also provided contact information for further inquiries. Jann Brown, Chief Executive Officer, and Sue Rivett, Chief Financial Officer, can be reached at Pharos Energy PLC, while Camarco can be contacted for media inquiries. The company has also included notes to editors for additional context.
This update provides insight into Pharos Energy PLC's recent activity in its share buyback programme, offering transparency and clarity to shareholders and the public.