Pharos Energy PLC has announced the purchase and cancellation of 52,386 ordinary shares as part of its share buyback programme. The highest and lowest price paid per share was 24.5000 pence, with a volume-weighted average price of 24.5000 pence per share. Following the purchase and cancellation, the company will have 428,508,899 ordinary shares in issue, with 9,122,268 ordinary shares held in treasury. The figure of 419,386,631 may be used by shareholders as the denominator for calculating their interest in the company.
Since the initiation of the earlier phase of the share buyback programme in July 2022, Pharos Energy PLC has purchased a total of 23,836,528 ordinary shares for cancellation at a cost of £5,568,638.55, excluding stamp duty and dealing expenses. The detailed information of the individual trades made by Peel Hunt as part of the Programme is provided in accordance with the Market Abuse Regulation.
The company's Chief Executive Officer, Jann Brown, and Chief Financial Officer, Sue Rivett, are available for further information. The announcement provides shareholders with an update on the company's share buyback programme and the total number of shares purchased for cancellation, in compliance with regulatory requirements.