Pharos Energy PLC has announced the purchase and cancellation of a number of its ordinary shares as part of its share buyback programme. On 29 January 2024, the company purchased 33,109 ordinary shares through Peel Hunt LLP. The highest and lowest price paid per share was 21.5360 pence, with a volume-weighted average price paid per share also at 21.5360 pence. Following the purchase and cancellation, the company will have 431,599,081 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 20,746,346 ordinary shares for cancellation at a cost of £4,899,279.98, 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. This update provides shareholders with the necessary information for calculating their interest in the company under the FCA's Disclosure Guidance and Transparency Rules.
This announcement from Pharos Energy PLC provides transparency and insight into the company's recent share buyback activities, offering shareholders and the public a clear understanding of the transactions and the resulting impact on the company's share structure.