Pharos Energy PLC has announced the purchase and cancellation of a specific number of its ordinary shares through Peel Hunt LLP as part of its share buyback programme. On 5 August 2024, the company acquired 90,493 ordinary shares at a volume-weighted average price of 25.4000 pence per share. Following the purchase and cancellation, the company will have 426,149,058 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 26,196,369 ordinary shares for cancellation at a cost of £6,156,758.48, 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's CEO, Katherine Roe, and CFO, Sue Rivett, are available for further information. The announcement provides shareholders with the necessary information for calculating whether they are required to notify their interest in, or a change to their interest in, the company under the FCA's Disclosure Guidance and Transparency Rules.
This update from Pharos Energy PLC highlights the company's ongoing commitment to its share buyback programme and provides transparency regarding the individual transactions made as part of the programme.