Pharos Energy PLC has announced the purchase and cancellation of 70,920 ordinary shares as part of its share buyback programme. The shares were acquired through Peel Hunt LLP, with the highest and lowest price paid per share being 21.2000 pence. Following the purchase and cancellation, the company will have 431,664,385 ordinary shares in issue, with 9,122,268 held in treasury. The figure of 422,542,117 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, Pharos Energy PLC has purchased a total of 20,681,042 ordinary shares for cancellation at a cost of £4,885,678.43, 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 contact details for Pharos Energy PLC and Camarco, the company's communications advisor, are also provided for inquiries. This update provides transparency and insight into the company's recent share buyback activities, demonstrating its commitment to enhancing shareholder value and managing its capital structure effectively.